What is the typical interest rate on a business loan? - PowerPoint PPT Presentation

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What is the typical interest rate on a business loan?

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This will reduce your EMI for the month as well as keep the total cost of the loan low. – PowerPoint PPT presentation

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Title: What is the typical interest rate on a business loan?


1
Top 7 Reasons Why Lenders Reject Business Loan
Applications

2
Here are some factors lenders take into
consideration before granting business loans
  • Financial stability is an inevitable need for a
    business. Small and medium-scale businesses are
    suffering due to insufficient funds and financial
    void during the pandemic. A business loan has
    been a relief to such struggling entrepreneurs
    with positive energy. However, the eligibility
    criteria are high along with various
    prerequisites that are working against the
    borrowers. There are various reasons behind a
    loan application rejection. If you try to find
    out the reasons behind the loan rejection, you
    can do better. It will help you report the
    loopholes and next time meet all the eligibility
    to apply and get positive approval.

3
What is the rate of interest?
  • A bad business plan with loopholes and areas for
    improvement. A business plan can either be
    convenient or give you a rejection from the loan
    provider. You need to draft your business plan
    very carefully. Make sure you draft it
    meticulously with all the right information.

4
Factors that decide the rate of interest
  • A bad business score will give you a rejection.
    The business credit score can be the foremost
    reason behind your business loan application. In
    that case, if you compare, an easy home
    loan comes with low rejection rates.
  • Misplacement of documents can give you a
    rejection. If you are not able to place all the
    required documents at the table, you will not get
    approval. It is important to offer everything
    that your loan provider wants to seek out.

5
Grow and develop your business
  • Improper bank account and cash flow statement. If
    your cash flow is not in a good situation it will
    give you a rejection. Make sure you work out on
    it before you apply for a business loan. It is
    important to understand that the credit side
    should always be heavier than the debit side.
  • Lack of transparency will give you a rejection.
    If your business does not portray what you try to
    convince your loan provider with, you will not
    get approval. The loan providers are very
    particular when it comes to business loan
    approval. If you check the application for the
    home loan process, you will find the right way.

6
Borrowing with bad credit
  • The process of a business loan can be easily
    compared with the process to avail housing loan.
    It will need a good eligibility criteria standard
    for getting loan approval.

7
Clix Capital Services Private Limited
  • Address
  • 901b, 9th Floor, Two Horizon Centre, DLF Phase V,
    Gurgaon, Haryana, India 122002
  • Phone Number 1800 200 9898
  • Email us at  hello_at_clix.capital
  • Website www.clix.capital

8
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