+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
Sunday, December 10, 2023
International Magazine
Business Connect Magazine
Upcoming Event
  • News
    • All
    • Blog
    Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X

    Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X

    Day Trading Guide for Stock Market Today: Top Four Stocks to Buy or Sell on Friday, December 8

    Day Trading Guide for Stock Market Today: Top Four Stocks to Buy or Sell on Friday, December 8

    TV18 Broadcast and Moneycontrol to Merge with Parent Network18 in a Strategic Move by Reliance Group

    TV18 Broadcast and Moneycontrol to Merge with Parent Network18 in a Strategic Move by Reliance Group

    Day Trading Insights: Top Six Stocks to Buy or Sell on Thursday — December 7

    Day Trading Insights: Top Six Stocks to Buy or Sell on Thursday — December 7

    Four Indian Women, Including Nirmala Sitharaman, Shine in Forbes' Most Powerful Women List

    Four Indian Women, Including Nirmala Sitharaman, Shine in Forbes’ Most Powerful Women List

    Strategic Moves: Top Six Stocks to Watch and Trade on December 6th

    Strategic Moves: Top Six Stocks to Watch and Trade on December 6th

    Rockstar Games Surprises Fans with Early GTA VI Trailer Release

    Rockstar Games Surprises Fans with Early GTA VI Trailer Release

    Market Soars to New Heights Following BJP's Sweeping Victory; Vaishali Parekh Recommends Top Stocks to Buy Today — December 5

    Market Soars to New Heights Following BJP’s Sweeping Victory; Vaishali Parekh Recommends Top Stocks to Buy Today — December 5

    "Massive Red Flag": Former Google Recruiter Unveils Crucial Interview Mistake

    “Massive Red Flag”: Former Google Recruiter Unveils Crucial Interview Mistake

  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Guest Posts
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
  • News
    • All
    • Blog
    Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X

    Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X

    Day Trading Guide for Stock Market Today: Top Four Stocks to Buy or Sell on Friday, December 8

    Day Trading Guide for Stock Market Today: Top Four Stocks to Buy or Sell on Friday, December 8

    TV18 Broadcast and Moneycontrol to Merge with Parent Network18 in a Strategic Move by Reliance Group

    TV18 Broadcast and Moneycontrol to Merge with Parent Network18 in a Strategic Move by Reliance Group

    Day Trading Insights: Top Six Stocks to Buy or Sell on Thursday — December 7

    Day Trading Insights: Top Six Stocks to Buy or Sell on Thursday — December 7

    Four Indian Women, Including Nirmala Sitharaman, Shine in Forbes' Most Powerful Women List

    Four Indian Women, Including Nirmala Sitharaman, Shine in Forbes’ Most Powerful Women List

    Strategic Moves: Top Six Stocks to Watch and Trade on December 6th

    Strategic Moves: Top Six Stocks to Watch and Trade on December 6th

    Rockstar Games Surprises Fans with Early GTA VI Trailer Release

    Rockstar Games Surprises Fans with Early GTA VI Trailer Release

    Market Soars to New Heights Following BJP's Sweeping Victory; Vaishali Parekh Recommends Top Stocks to Buy Today — December 5

    Market Soars to New Heights Following BJP’s Sweeping Victory; Vaishali Parekh Recommends Top Stocks to Buy Today — December 5

    "Massive Red Flag": Former Google Recruiter Unveils Crucial Interview Mistake

    “Massive Red Flag”: Former Google Recruiter Unveils Crucial Interview Mistake

  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Guest Posts
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
Business Connect Magazine
No Result
View All Result

3 Myths about Business Loan

June 15, 2022
in Blog, Guest Posts
3 Myths about Business Loan
Share on FacebookShare on Twitter

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

 

 

 

Leave a Reply Cancel reply

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

Popular Stories

The Impact of Data Breaches on Companies: How to Safeguard Your Business?
Blog

The Impact of Data Breaches on Companies: How to Safeguard Your Business?

The Impact of Data Breaches on Companies: How to Safeguard Your Business? An alarming rise in data breaches has been...

Read more
How to Boost Your Immunity – 7 Steps to Power Up Your Immune System

How to Boost Your Immunity – 7 Steps to Power Up Your Immune System

Will India Become an Economic Superpower?

Will India Become an Economic Superpower?

What Are the Best 10 Payment Methods Available in India? Top List

What Are the Best 10 Payment Methods Available in India? Top List

Binance CEO Changpeng Zhao Resigns and Pleads Guilty in $4.3 Billion Settlement

Binance CEO Changpeng Zhao Resigns and Pleads Guilty in $4.3 Billion Settlement

Recent News

Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X

Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X

Elevate Your Brand: The Power of Events in Marketing Your Business

Elevate Your Brand: The Power of Events in Marketing Your Business

Deli Aroma LLC

Deli Aroma LLC

Payomatix Cashier: The Future of Payment Solutions

Payomatix Cashier: The Future of Payment Solutions

Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X

Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X

Elevate Your Brand: The Power of Events in Marketing Your Business

Elevate Your Brand: The Power of Events in Marketing Your Business

Deli Aroma LLC

Deli Aroma LLC

Payomatix Cashier: The Future of Payment Solutions

Payomatix Cashier: The Future of Payment Solutions

Day Trading Guide for Stock Market Today: Top Four Stocks to Buy or Sell on Friday, December 8

Day Trading Guide for Stock Market Today: Top Four Stocks to Buy or Sell on Friday, December 8

SME Loans: A Safe Way to Empower Business Growth

SME Loans: A Safe Way to Empower Business Growth

Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X
News

Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X

Elevate Your Brand: The Power of Events in Marketing Your Business
Blog

Elevate Your Brand: The Power of Events in Marketing Your Business

Deli Aroma LLC
Brand of The year 2023

Deli Aroma LLC

Payomatix Cashier: The Future of Payment Solutions
Press Release

Payomatix Cashier: The Future of Payment Solutions

Day Trading Guide for Stock Market Today: Top Four Stocks to Buy or Sell on Friday, December 8
News

Day Trading Guide for Stock Market Today: Top Four Stocks to Buy or Sell on Friday, December 8

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

Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X

Elon Musk calls for the termination of Disney CEO Bob Iger amidst an advertiser boycott on X

Elevate Your Brand: The Power of Events in Marketing Your Business

Elevate Your Brand: The Power of Events in Marketing Your Business

Contact Information

Address: 701, Vishwa Sadan Building, Janakpuri West, New Delhi-110058

Phone Number: +91-11-41065208, 42636209

Contact to Get Feature as

Mail:  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
  • Guest Posts
  • 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