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There are 75 million small businesses and SMEs across the country. It is estimated that this number will cross 105 million by 2024. With progress taking place at this fast pace, business owners increasingly require reliable short-term financing.
This need is being met efficiently for business owners through short-term business loans. Without the hassles and long-term commitments of conventional business loans, these instant short-term loans provide finance quickly and conveniently.
Kickstarting and running a business comes with its own exhaustive list of functions and objectives. But some business requirements are more urgent or short-term than others. Conventional business loans often require a long application and disbursal time, making them unsuited to meet such immediate goals.
This is where a short-term business loan comes in. By definition, short-term business loans are customised to meet short-term business plans. They achieve this by offering pre-defined short terms, easy access to funds, and fast processing of loan applications.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
FAQs on Short-Term Business Loans
What are the eligibility criteria and documents requirement for getting a short-term loan for a business?
To be eligible for short-term loans for business, you need to be an Indian citizen between the age of 25 and 65 years. You must be self-employed with a minimum business vintage of 3 years. Also, you must have a Credit score of 685 or above.
You also need to submit some necessary documents, including your KYC documents, documents to prove your business ownership and some financial documents.
Can I apply for short-term business loans online?
Yes, you can easily apply for short-term loans online by visiting the official Bajaj Markets platform.
What are the interest rates for short-term business loans on Bajaj Markets?
Short-term business loan rates start at 12% per annum on Bajaj Markets.
What is the repayment period for a short-term business loan on Bajaj Markets?
On Bajaj Markets, the short-term loan period for repayment ranges between 9 months and 72 months.
