Manage Cash Crisis Via PlanGrip - Short-Term Business Loan

“Manage Your Temporary Cash Crunch With Short-Term Business Loan”

Time is money every smart business owner knows that – Fortunately, nowadays business funding is easier than ever. So, if you need a quick short term business funding then PlanGrip can provide you the best loan for your business within 24 hours, which you must repay over 3 to 24 months period with fixed regular payments.

PlanGrip avail a short-term business loan with minimum documentation and quick disbursal of funds. PlanGrip is the best option for all business owners to boost their profits.

This loan has a hassle-free financing solution to businesses and we offer this loan at very competitive interest rates, making them an even more economical option. Apart from this our loan specialist officer are always 24*7 here to help you – To make the best decision for your business.

Even, we will listen exactly what you need for your business and suggest the best loan option for you So, get ready to apply for a short-term business loan online now.

What Is Short-Term Business Loans?

As the name suggests, Short term business loan is simply a term loan usually, have a maturity of one year or less than two years. But it is totally different from long term business loans. Therefore, short term small business loans are designed to meet immediate financing needs with some extra funding and taking advantage of new business opportunities.

You can avail the small short term loans for the duration of months or a year, it is generally unsecured loans with high interest rates.

How To Choose The Right Loan For Your Short-Term Business?

Getting a business loan is quite simple but choosing the right loan is difficult for every owner. Until you realize which loan is best for your new business or how many types of loans exist. Suddenly, you find yourself overwhelmed with the options that you do not have.

We got it. That’s why we created this guide to choose a business loan. Read to see how you can choose the right loan for your business before you apply for a business loan online.

First, make sure that you really need a business loan?
Exactly decide why you need this loan?
Where your rate of interest stand?
How a small business loan will help your business growth?
How much loan do you need to borrow for your business?
How long do you want a loan?
Have an honest look at your credibility?

NOTE – Everyone’s circumstances are different – So before you settle on a loan for short term business, make sure you fully understand your situation.

Short-Term Business Loan Factors

For short -term loan, many lenders will consider many factors as they calculate your credit score. For example, they might ask these type of questions:

What is your personal credit score?
How is your business credit?
What is your annual revenue?
How long have you been in this business?
Have you ever declared bankruptcy?

Advantages And Features Of A Short-Term Business Loan

A short term business finance is a good option for any companies that require a line of funding. Overall, we have made this section so you can have a quick overview of all the advantages and the features that are associated with short term business loans; however, some of the points are given below:

EMI based loans
Bad credit accepted
The repayment amount will be deducted from your account directly
Over the age of 18 years can apply for this short term business loan
This loan available for small and medium enterprises
Loan offer at affordable interest rates
Fund transfer to your account within a day after approval
Loan amount from $7201.50 – $12962.70
Flexible repayment option 12 months – 24 months according to business funding
An applicant can apply short term loans online or offline
Hassle-free documentation process
No hidden charges or fees
Quick and seamless processing

After reading the advantage of this loan, you probably have some pretty basic idea of you think a short-term loan is right for you.

What Are The Eligibility Criteria For Short-Term Business Loan?

You should be over 21 years of age but not more than 65 year
Work experience of at least 1 years
Net profit of at least 1 lakh
Annual business turnover of at least 5 lakh
Current balance sheet
Minimum operational history at least 2 year

These are the common eligibility criteria which you need to follow to be approved for your loan.

NOTE: Eligibility criteria totally depends on the kind of loan you are applying for so, check the specified criteria before applying for a loan.

What Are The Documents Required To Apply For Short-Term Business Loan?

To ensure a quick, smooth application process, please make sure that you have digital copies of the following documents.

VAT returns for the last 12 months
All bank statement of the last 12 months
Quotation of equipment, machinery, furniture & other assets to be purchased
A copy of residence proof such as bank statements, voter ID card, adhaar card, passport, ration card, electricity bill, rental agreement or driving license
A copy of age proof such as a 10th certificate, PAN card or birth certificate
A copy of identity proof such as adhaar card, passport, voter ID card or passport
2 passport size photographs of the applicant
Business ownership proof and profile
Business registration proof

NOTE: Documentation may differ for every different loan and when you applying for short loans must have KYC documents – Mandatory.

“Get in touch with us to know more about our offerings and apply for the loan online!