What is a Business Loan? Types, Benefits & Eligibility Explained
Running or expanding a business often requires timely financial support. Whether you are starting a new venture, managing working capital, or planning expansion, a business loan can provide the funds you need without disturbing your cash flow. In this blog, we explain what a business loan is, its types, benefits, and eligibility criteria to help you make an informed decision. What is a Business Loan? A business loan is a financial product offered by banks and NBFCs to help businesses meet their operational and growth-related expenses. The loan amount can be used for purposes such as purchasing equipment, hiring staff, expanding operations, managing cash flow, or investing in new opportunities. Today, many lenders allow Business Loan Apply Online , making the process quick and hassle-free. Types of Business Loans Understanding the different types of business loans can help you choose the right option: 1. Term Loan A lump-sum loan repaid over a fixed tenure with EMIs. Ideal for long-term...