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7 Popular Funding Options Available for Small Businesses

SME Funding is important as it takes care of the capital requirements of an SME business. It also saves you from having to share your control/ equity in exchange for money, thus keeping your profits undivided. The process to get SME Loans is quick and easy, and there are many loan types to choose from. To get the most out of SME Financing it is critical to know your loan requirements, which has been explained below.

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7 Popular Funding Options Available for Small Businesses

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  1. 7 Popular Funding Options Available for Small Businesses 01

  2. Understand your needs Know how much money you will need and for what. Know the ideal repayment term. Review your business financial status. Check if you can put any collateral on the line.

  3. Some common SME funding options

  4. Secured term loan It is secured by collateral. Offered for a specific period.

  5. Working capital loan (secured) Available for meeting business operational expenses.

  6. Revolving working capital loan You have an option to reborrow. You have an option to choose the loan term.

  7. Purchase invoice You can use it for purchasing receivables from the suppliers.

  8. Machinery loan It’s a long-term loan available for purchasing plants and machinery.

  9. Supply chain finance Funds are paid directly to the supplier.

  10. Eligibility criteria Available to businesses with at least 3 years of experience. Business must be profitable. You must possess a strong credit score.

  11. Documentation process KYC documents Last 3 years’ audited financials Business registration certificate

  12. Now that you are familiar with multiple business funding options, choose the best among them, as per your need.

  13. Thank you! Would Love to hear from you. Hero Fincorp Limited 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel : 18001024145 Email : corporate@herofincorp.com Website : https://www.herofincorp.com/ Know More : 7 Popular Funding Options Available for Small Businesses ‹#›

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