One of the major roadblocks during business expansion is finding the right source of funding. If you are an SME who is planning to avail a business loan, the loan options available in the market could put you in a dilemma. Whether funds are required to meet the working capital needs or buying assets, an unsecured business loan is an ideal option for SMEs. An unsecured loan is a funding facility that can be availed without any collateral. Have doubts about unsecured business loans? Read the article to know more and possibly put some of your doubts and questions to rest.
- How long does it take for the loan disbursal?
Different financial organizations have different time periods allotted to the various kinds of loans that they offer. Most organizations that offer unsecured business loans, claim to disburse the small business financing option of a business loan in roughly five to seven working days. This comparatively faster access to funds is helping close the lending gap that SMEs in India mostly go through.
SME Corner – an online lender of unsecured business loans offers loans within three business days, if all the paperwork and necessary processes are in place.
- What are the benefits of availing an unsecured business loan?
SMEs can deploy the funds availed through an unsecured business loan to enter new geographies, boost business productivity, enhance technology, and thereby increase the profitability of the organization.
SME Corner offers collateral-free business loans. This means that SMEs are not required to put their assets on the line to qualify for a business loan. With minimal paperwork, the process of loan approval is faster and easier for businesses. What’s more, an SME can avail a loan up to 30 lakh. The easy repayment option makes SME Corner an ideal choice as a partner for SMEs in India.
- Is it mandatory to upload financial documents while making an online application?
Each financial organization, big or small alike will have their own set of documents that will need to be uploaded or submitted during the application stage of a loan. While some organizations require you to submit an extensive list of documents, some have a short list that enlists all the necessary paperwork.
SME Corner requires applicants to submit minimal paperwork. Providing the supporting financial documents that we require, helps us evaluate your creditworthiness better and faster, but in case the client is unable to provide soft copies, we facilitate the collection of the required documents, in person.
- Will I be sanctioned the same loan amount as estimated during online application?
At SME Corner, we do a thorough analysis of your financial statements and records, and consider your CIBIL score. Depending on your creditworthiness, we decide an amount that you are eligible for.
- How do I check the status of my loan application?
Applicants have the convenience of checking the status of their unsecured business loan application by simply logging into the account on SME Corner’s website through a registered phone number or their social media profile.
To avail quick and easy unsecured business loans in India, visit www.smecorner.com