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MTS is a fast growing Financial Advisory, fundamentally involved in offering the consulting services and the entire ground level assistance for all types of corporate funding for medium and large size businesses. Having our Head Office at Nashik, we have our branches at Aurangabad, Jalgaon and Mumbai.
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A business loan is a loan given by banks or NBFCs for a period of one to three years. This loan is given with or without any collateral, hypothecation of assets or guarantor. Proprietorship companies, partnership businesses or private limited and public limited companies are eligible for this kind of loans. This capital may be used for working capital, business expansion, meeting short-term cash-flow requirements and purchasing plant & machinery, etc.
Some banks have a lock-in-period of six months to one year for the business loan. While some others allow you to pre-close the loan even after the first EMI has been paid. Some banks may have a rule that a borrower can use his own funds to pre-close the loan and not use the balance transfer facility of another bank. Additionally, some banks allow pre-closure at no cost while some others charge an upfront fee of 2-5% of the pre-closed amount. Clarifications on this are to be sought from our business loan advisor during the processing of your application.
According to data by the United States Census Bureau, personal cash and debt is the single most common option for funding a new business. The Bureau found that roughly one-third of new businesses without employees, and 12% of new businesses with employees, had no startup capital. Instead, they used their own personal cash and/or debt to fund their business.
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