When applying for a business loan for a chartered accountant or another type of business owner, you can gain from having a high Cibil score in the following ways:
Low interest rates: As a startup company owner, you're constantly looking for methods to save money. Low-interest rates are a significant method to reduce costs.
Easy Availability: When your credit score is good, getting loans is easier than when it is low.
Flexible Tenure: You can benefit from a tenure that is more flexible if your credit score is high.
Power To Negotiate: High credit scores provide you with more negotiating power with lenders, allowing you to reach a contract with greater flexibility.
Features of a small business loan in India from a finance company like Peerless Finance:
● Affordable Interest Rate: Interest rate starting from 18 % p.a. which can be reasonable for companies regarding repayment.
● Loan Up To 1 Crore: A high amount can ensure that you cover all the expenses and run your business smoothly.
● Flexible Tenure: The choice of repayment up to 36 months (Unsecured), so that you can pay back the amount as and when it suits you.
● Top-Up Facility: Top-up facility available on review post 6 months so that you never run out of funds.
● Term Loan: Multi Modes Loan availability - Term, Dropline OD facilities.
With high credit scores, you get tons of benefits not only with loans but also outside, like easier credit score approval and better rates on different types of insurance. Having a good credit score ensures you get the best small scale business loan from trustworthy brands like Peerless Finance and cover any expenses that may arise while running a business.
Do you want to get the benefits of your high credit score on your business loan? Contact Peerless!