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Tata Capital > Blog > Started smartly but now need funds to grow further? Think Tata Capital Business Loan platform

Loan for Business

Started smartly but now need funds to grow further? Think Tata Capital Business Loan platform

Started smartly but now need funds to grow further? Think Tata Capital Business Loan platform

Why do some businesses take off on a high note and tend to slow down over a period of 2-3 years? Much needed financial funding is a prominent reason for businesses not taking off beyond a particular point. What do you need in such a situation? Financial assistance in the form of an easy business loan.

Something similar was happening to the catering and restaurant set-up of Razak, which had jumpstarted extremely well almost 2 years back in Pune. Razak’s place used to be packed with customers who had grown fond of his biryani and kebabs. In spite of being qualified, his passion for food and serving people did not die, and Razak started off his own venture with the money he had earned in the banking sector. Over a span of 2 years, he had started getting orders for small parties and gatherings.

While everything seemed just amazing and overwhelming, Razak felt the need to refurbish the infrastructure of his kitchen and bring in more automation. Being innovative and automating the most mundane tasks of the day seemed the most obvious way out for him. He called in the architect and sketched the plan with the estimated costs.

However, the final costing after discounts from vendors didn’t seem to match his requirements. Even the rising costs of raw material was impacting the margins of his business. Razak had no plan to invest all his savings into the renovation, as he had to keep a substantial amount, for backup as well. Eventually, he decided to take up a business loan from the bank and began the research. He visited his bank and even other financial institutions in the city; which turned out to be a big dismay. It wasted time, effort, and Razak was losing his patience and focus from the business that he loved.

During a discussion with one of his very frequent customers, he got introduced to Tata Capital business loans and its user-friendly online portal. That very night he went online and checked out the platform. He was absolutely impressed by the way he could calculate the EMI on the EMI Calculator and decide on the loan amount. He just keyed in the details and uploaded the documents, and guess what, it was done! The next day he just called up the helpline and clarified some final details. The amount was transferred to his bank account just in a matter of 4-5 working day.

The era when physical presence of the borrower was necessary for getting a loan, has vanished. Today, budding entrepreneurs need digital empowerment to grow and support their business needs. Digital platforms provide this kind of independence and facilitate an easy gateway to success. Moreover, it helps save the precious time that could be invested in channeling better ideas for growth. Financial dependency or inadequacy can cripple even the best ideas and sometimes an entire business venture. Financial institutions such as Tata Capital not only facilitate finance, but with a digital platform, they offer the ease to check eligibility, calculate your capability to pay the EMI, and ultimately apply for the loan.