Benefits of obtaining a business loan with AGIL

1
BENEFITS OF OBTAINING A BUSINESS LOAN
By AGIL
2
Introduction
Cash flow in business is as essential as blood
flow in our bodies. Working capital is one of
the significant reasons behind the smooth
functioning and longevity of the business.
Business requires money at various phases for
numerous reasons such as To launch or expand
business To purchase new equipment/machinery/inven
tory To solve the cash flow crisis To overcome
emergency expenses, etc.
3
However, the owner's capital can't always fulfill
all these requirements. Business needs to get
external financial support. Obtaining a business
loan is the best way to meet the financial need
of the business unit. You can take a business
loan from any bank, NBFC, or financial
institution. There are many advantages to
obtaining a business loan, and we have mentioned
some of them in this blog.
4
Top-notch benefits of getting a business loan
Flexibility in its usage Convenient and easy to
access The reasonable interest rate that anyone
can afford A collateral-free loan You don't have
to share the profit Tax benefits
5
1. Flexibility in its usage
A business loan comes in different types, like
long-term, short-term, and working capital
loans. It also brings flexibility in its usage.
Unlike equity investors, here, banks or NBFCs
don't interfere with how you should utilize your
loan amount. They are only concerned with timely
installment payments. So, you will have complete
control over the capital of your business unit.
6
2. Convenient and easy to access
Nowadays, a business loan is very convenient and
easy to access. You can easily access the
business loan if you meet all the eligibility
criteria and have all the necessary documents.
Banks and NBFCs also provide various repayment
options for a business loan, making it more
convenient to obtain finance.
7
3. The reasonable interest rate that anyone can
afford
The interest rate on a business loan depends on
its tenor, collateral, and borrower's
creditworthiness. Due to cutthroat competition
among lending institutions, most banks or NBFCs
provide business loans at a reasonable interest
rate. Get a quick business loan with an
affordable interest rate from the best loan
agency in ahmedabad.
8
4. A collateral-free loan
One of the significant advantages of obtaining a
business loan is, it doesn't require any
collateral against it. Collateral is not
mandatory to get a business loan from NBFCs and
private lending agencies. This benefit allows
small business owners to avail funds and develop
their businesses.
9
5. You don't have to share the profit

• It is a universal truth that nobody likes to
  share their hard-earned profit with other
  people. However, if you obtain funds from
  investors, you have to share your profit with
  them. It won't happen when you take a business
  loan. Here, you don't have to share your profit
  instead, you will pay fixed monthly installments
  to your lender.

10
6. Tax benefits
Another significant advantage of taking a
business loan is that it provides you the tax
benefits. According to the Income Tax Act of
1961, a business owner can claim a deduction on
the interest he/she paid on his/her business
loan. It will significantly reduce your tax
burden. However, to take the benefit of tax
deduction, you have to maintain your business
loan records properly.
11
Through this blog, we have shared the most
significant benefits of taking a business loan.
We genuinely hope that it will help you make the
wise decision to obtain funds for your business.
Always remember, before you go forward with a
business loan, never forget to analyze the final
print of your loan agreement carefully. It will
save you from paying the unnecessary charges
levied by your lender. If you are interested in
obtaining a business loan, then get it from AGIL
Finance. We offer the Best Loan Services in
Ahmedabad with minimum documentation and fast
disbursement. Contact us at info1_at_agil.co.in to
avail of our excellent services.
12
AGIL
info1_at_agil.co.in 91 7845129623