Business Loan

A business loan is a financial product offered by banks, NBFCs, or financial institutions to support businesses in their growth and operational requirements. It can be secured (backed by assets like property or machinery) or unsecured (based on the creditworthiness of the business). Business loans can be used for purchasing equipment, expanding operations, managing working capital, or funding new projects. They come in various types, such as term loans, working capital loans, equipment finance, and lines of credit. Repayment is typically made in EMIs, and interest rates depend on the loan type, tenure, and the borrower’s credit profile.