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Tata Capital > Blog > Loan for Business > Benefits of applying for an SME loan by Tata Capital

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Benefits of applying for an SME loan by Tata Capital

Benefits of applying for an SME loan by Tata Capital

The small and medium enterprises (SMEs) account for about 30%¹ of India’s GDP, driving a large share of the country’s economy. However, such small enterprises often operate on restricted working capital. Therefore, for scaling up operations and increasing revenue, these businesses may need financial support. Tata Capital offers a specialized borrowing instrument called an SME loan to such businesses. If you own a small enterprise and are looking for finance, consider the following benefits of this loan by Tata Capital:

Collateral-free finance

You can avail of a business loan for an amount as high as Rs 75 lakh without any security or guarantor. You retain full control of your company even in the event of loan default. Your other assets also remain untouched. You can hence fall back on those resources if the need arises.   

Additional Read – Best Ways to Get SME Business Loan

Competitive and fixed interest rates

The business loan interest rates offered by Tata Capital start from 19%. However, the company determines the best interest rate for you according to your business profile and credit score. Moreover, the rates remain fixed throughout the loan tenure, protecting you from sudden hikes.

Zero hidden charges

You can view all associated fees on the official website and do not have to face any rude shocks later.

Repayment options as per business income flow

As your profits increase, you may want to repay your loan sooner to become debt-free quicker. Offers of multiple repayment options according to your financial condition can help you in such a situation.

  1. With the step-up Flexi EMI plan, you can start with lower equated monthly instalments (EMIs) when you have lesser earnings. Later, you can increase your EMIs to match the rise in your revenues.
  2. With step-down Flexi EMI plans, you can pay higher EMIs at the beginning of your loan tenure if you have disposable resources. This can reduce the interest cost to a significant extent. You can decrease your monthly obligation to protect your cash flow later.

Flexibility of end-use

The SME business loan imposes no restrictions on the end usage of the proceeds. You can utilize the funds to procure new equipment, upgrade existing infrastructure, hire new staff, and meet other operational requirements as per your requirements.

Easy accessibility to funds

Sometimes, the need for infusing funds into the business can be urgent for micro, small, and medium enterprises. You can fast track your MSME loan approval with an online application that requires minimal documentation. Online document uploading speeds up the verification process, and the disbursal happens faster.

Additional Read – Detailed Guide for a First-Time SME Loan Applicants

Existing customers can get exclusive pre-approved loan offers

If you are already a part of Tata Capital’s extensive customer base, you may be eligible for pre-approved credit plans. Such options can provide a quick boost to your SME working capital when you are facing a financial crunch.

Conclusion

If you need additional cash-in-hand to grow your business, check your SME loan eligibility on the Tata Capital website. You can also find out the amount that you have to repay every month using the loan calculator. Apply for a loan accordingly and improve your profitability as well as your company’s credit rating, opening the path to future financing options.

Apply Now

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