Business Loan

How Can A Small Business Loan Save, Sustain, Or Grow Your Business?

Business loans not only helps to grow your business but also helps to save for future needs. Want to know how? Read this article to get complete details here!

22 Sep,2022 10:58 IST 68
How Can A Small Business Loan Save, Sustain, Or Grow Your Business?

Undoubtedly, your investment capital is essential to save, sustain or grow a business. A solid business idea is required, but what good can an idea bring without its execution? To realize an idea, business owners require funds.

Read on to learn how to use a small business loan for growth.

1. Purchase Inventory

Every business needs inventory to be successful. Having enough inventory ensures smooth operations. Getting a loan to grow your business’s inventory can be helpful in the growth of your company.

2. Business Expansion

You can avail of loans to expand your business for various reasons, such as renting more space for your business, opening new stores, buying the inventory you need, or hiring more employees. These factors form a significant part of scaling your business.

3. Technological Advancement

Most businesses today have an online presence. How businesses work is changing, and it isn't easy to succeed if your business doesn't have an online presence. However, to be on the Internet, you need resources and funds. Hosting and maintaining a website on the internet requires money.

Building an attractive and functional website requires investing time and money. In this case, as the saying goes, first impressions are the last impressions. You need to hire a good website developer to set up your website and maintain it. The main advantage of a website is that it is much cheaper than any form of traditional offline marketing as it works like a digital business card/brochure. A one-time investment in your website yields many benefits.
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4. Building Infrastructure

Infrastructure is one of the most important things your business needs to be successful. Good infrastructure means having sufficient office space, warehouses, or places to store inventory. It also ensures that employees are well managed and have a good working environment. A small business loan can help you build and improve your business infrastructure.

Apply For Business Loans With IIFL Finance

IIFL Finance is a leading instant business loan provider. We provide quick loans for small businesses with small financial requirements up to INR 30 lakh with minimal business loan paperwork. You can check the interest rate at your nearest IIFL Finance branch or online.

The entire process, from application to disbursement, is 100% online. The disbursals take 24-48 hours. Apply for an IIFL Finance business loan today!

Frequently Asked Questions

Q.1: Can a business loan be used for developing and executing marketing strategies?
Ans: Yes, you can use the funds received in a business loan for designing and managing your company’s marketing strategy. You can use loans to grow your business in any way. In today’s world, the biggest mistake is not marketing your product well. A good product needs a good marketing plan too.

Q.2: What is the typical approval time for an IIFL Finance business loan?
Ans: The approval time for an IIFL Finance business loan is within 30 minutes of application.

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Disclaimer: The information contained in this post is for general information purposes only. IIFL Finance Limited (including its associates and affiliates) ("the Company") assumes no liability or responsibility for any errors or omissions in the contents of this post and under no circumstances shall the Company be liable for any damage, loss, injury or disappointment etc. suffered by any reader. All information in this post is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results etc. obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. Given the changing nature of laws, rules and regulations, there may be delays, omissions or inaccuracies in the information contained in this post. The information on this post is provided with the understanding that the Company is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. This post may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other agency or organization. This post may also contain links to external websites that are not provided or maintained by or in any way affiliated with the Company and the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. Any/ all (Gold/ Personal/ Business) loan product specifications and information that maybe stated in this post are subject to change from time to time, readers are advised to reach out to the Company for current specifications of the said (Gold/ Personal/ Business) loan.

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