+91 70111 97831
  • About us
    • Data Analyst Team
    • Magazines Sections
    • Editorial Team
  • Advertise with us!
  • Business review
  • Guest writers
    • Guest Contribution
  • Subscription
  • Career
  • Testimonials
  • Contact Us
Saturday, June 10, 2023
International Magazine
Business Connect  | Best Business magazine In India
Upcoming Event
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
Business Connect  | Best Business magazine In India
No Result
View All Result
  • About us
  • Guest writers
  • Business review
  • Advertise with us!
  • Subscription
  • Privacy
  • Why us
Home Blog

3 Myths about Business Loan

admin by admin
May 30, 2023
in Blog, Guest Posts
3 Myths about Business Loan
Share on FacebookShare on Twitter

RelatedPosts

Beyond the Limits: Unveiling the Top 10 Fastest Cars of 2023

Overview of Strifor broker: what opportunities are there for clients of the service

Speed Kings: The Top 10 Fastest Bikes in India for 2023

Top 10 richest actors in the world 2023, highest-paid actors list

Maximus Group: Charting a Path Towards INR 250 Crore Revenue by 2025

3 Myths about Business Loan

A business loan can be extremely helpful for small, medium and large businesses. It is a kind of unsecured credit that is offered by banks and Non-Banking Financial Companies (NBFCs), to help meet the different needs of a business like everyday expenses, capital purchase costs, raw material costs, marketing expenses and more.

The interest rate of a business loan depends on many factors like the size of the business, its revenue, its profitability and other such aspects. However, there are many myths about business loans that have created quite a bit of misconception among aspiring entrepreneurs who want to kick start their own businesses. So, if you are one such entrepreneur keen on taking your business to the next level, you can apply for a small business loan online. But before you do that, let’s clear up some myths about business loans for you.

Myth 1: You Need a Business Loan Only for Big Expenses

Your business may have many big-ticket expenses like the purchase of new machinery and equipment. Simultaneously, there may also be many small cash requirements, such as payments of salary to the staff, meeting the everyday expenses of your business and purchase of raw materials. You can apply for a small business loan online to meet any of these needs, be they big or small. It is not necessary to have big expenses to avail a loan.

Myth 2: You Must Offer Collateral to Avail a Business Loan

Sure, offering collateral may help bring down the interest rate of a business loan. But having to offer collateral for a business loan can be quite intimidating for small-time borrowers. This is because the asset offered as collateral will be tied up till the loan is repaid The good news is that there are many kinds of business loans that do not need any collateral – particularly for small business owners who are borrowing funds. So, if you want to apply for a small business loan online, you may be able to do so without the added burden of providing collateral.

Myth 3: There is Only One Kind Of Business Loan

The truth is, there are several different kinds of business loans, each with its own benefits and purposes. Term loans are the most common, and they need to be repaid over a longer tenure. Working capital loans help small businesses and large entities meet the shortages in day-to-day cash flows. Then, you have equipment financing specifically for the purchase of machinery and equipment and overdraft facilities that are provided against securities or collaterals like fixed deposits. The interest rate of a business loan and the other particulars of the borrowing vary from one loan to another.

Conclusion

This clears up some of the most common myths about business loans. Now that you have more clarity, you can apply for a small business loan online if you need to. Remember to compare the different factors like the repayment tenure and the interest rates of a business loan before borrowing the funds. That way, you can get the best offer available in the market.

Must Read:- 

  • Top 10 Young Entrepreneurs in India 2022
  • Upcoming Indian Web Series for 2022-23
  • Top 10 Hospitals in India 2022
  • Top 10 richest player of the world 2021
  • Top 10 highest-paid Indian Athletes 2021
  • Top 10 highest paid CEO in the World
  • Top 10 richest person of India
  • Top 10 Highest Paid CEOs of India
  • List Of Most Followed Facebook Pages in 2022
  • The Success Story of Jeff Bezos
  • Success Story Of Elon Musk
  • Top 10 Business Magazine In India
  • Top 10 Business Newspaper In India
  • Top 10 richest billionaires in the world 2021
  • Upcoming English Web Series in 2021
  • Top 10 Tourist Places in India, places to visit after lockdown

 

 

 

Previous Post

What is the DASH Diet and Why Doctors Call It the Best Diet?

Next Post

Importance & Benefits of Career Counseling

admin

admin

Admin is a Digital Marketing Executive at Business Connect Magazine. With his expertise in digital marketing strategies, leverages his knowledge to optimize online presence, enhance brand visibility, and engage with the target audience effectively.

Next Post
Importance & Benefits of Career Counseling

Importance & Benefits of Career Counseling

BCCI plans to launch Women’s IPL in 2023: Reports

BCCI plans to launch Women’s IPL in 2023: Reports

UPI & RuPay card to accept in France soon; NPCI signs MoU with Lycra Network

UPI & RuPay card to accept in France soon; NPCI signs MoU with Lycra Network

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Upcomming event 2023

Business Connect magazine events

Recent News

After 27 Years, Miss World 2023 Set to Take Place in India

After 27 Years, Miss World 2023 Set to Take Place in India

June 9, 2023
India and New Zealand Collaborate to Enhance UPI Facilitation & Resolve Trade Challenges

India and New Zealand Collaborate to Enhance UPI Facilitation & Resolve Trade Challenges

June 9, 2023
Beyond the Limits: Unveiling the Top 10 Fastest Cars of 2023

Beyond the Limits: Unveiling the Top 10 Fastest Cars of 2023

June 9, 2023
Overview of Strifor broker: what opportunities are there for clients of the service

Overview of Strifor broker: what opportunities are there for clients of the service

June 8, 2023
https://www.youtube.com/watch?v=5gPvV9iUPII
Business Connect magazine events | Business magazine

Recommended

Buying Solar Panels? Here Are 5 Things to Keep in Mind Apart from Solar Panel Price

Buying Solar Panels? Here Are 5 Things to Keep in Mind Apart from Solar Panel Price

April 21, 2023
Sudhir Unstoppable: The man who fought polio now won 6th gold for India at CWG 2022

Sudhir Unstoppable: The man who fought polio now won 6th gold for India at CWG 2022

June 9, 2023

Most Popular

After 27 Years, Miss World 2023 Set to Take Place in India
News

After 27 Years, Miss World 2023 Set to Take Place in India

June 9, 2023
India and New Zealand Collaborate to Enhance UPI Facilitation & Resolve Trade Challenges
News

India and New Zealand Collaborate to Enhance UPI Facilitation & Resolve Trade Challenges

June 9, 2023
Beyond the Limits: Unveiling the Top 10 Fastest Cars of 2023
Blog

Beyond the Limits: Unveiling the Top 10 Fastest Cars of 2023

June 9, 2023

Business Connect is a business magazine whose name is derived from Business Community which connects entrepreneurs, executive officers and VCs. With a mission to have one of the highest readership figures of senior-level executives and investors in India, Business Connect brings its edition on monthly basis.

Follow Us

Recent News

After 27 Years, Miss World 2023 Set to Take Place in India

After 27 Years, Miss World 2023 Set to Take Place in India

June 9, 2023
India and New Zealand Collaborate to Enhance UPI Facilitation & Resolve Trade Challenges

India and New Zealand Collaborate to Enhance UPI Facilitation & Resolve Trade Challenges

June 9, 2023

Contact Information

Address: 807, DDA 2, District Centre, Janakpuri West, New Delhi-110058

Phone Number: +91-11-41065208, 42636209

Mail: abhishek@businessconnectindia.in / events@businessconnectindia.in

Contact to Get Feature as Guest Post : info@businessconnectindia.in

  • About us
  • Why us
  • Healthcare
  • Guest writers
  • Career

© 2020 All Rights Reserved by Business Connect India

No Result
View All Result
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials

© 2020 All Rights Reserved by Business Connect India

Need Help? Chat with us
Start a Conversation
Hi! Click one of our member below to chat on Whatsapp
The team typically replies in a few minutes.
Ashish Kumar
Sales & Support