Updated on: Jul 13th, 2021
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4 min read
Businesses go through many phases and are very volatile when it comes to the cash at hand to fund the daily operations. At times, you may be held up by distributors, suppliers, and clients where you cannot go back and compel them to make your payment due to trust-related issues. No matter what reason you require financing for, Flexi business loans are at your aid. You don’t even have to worry about expensive repayments with this option.
The term ‘Flexi’ comes from the fact that the borrowers can utilise the loan amount as per their flexibility and requirement. Flexi business loans are relatively new in the market that is useful for immediate business funding requirements. A pre-set loan limit will be offered to customers. Customers can utilise the loan amount as and when required. The loan amount can be used to make an equipment purchase for your business, expand your business, to resolve capital crunch, train your employees, or to handle that sudden bulk order.
Businesses of any size who need financing for the following purposes can avail a Flexi business loan.
Doctors can avail Flexi loan to set up their clinic and to arrange the required apparatus and equipment. A beautician can avail a Flexi loan to purchase the necessary supplies and equipment to set up a salon.
A tailor may wish to expand his tailoring training institute with more tailoring machines, different kinds of fabric, and other required items. In this case, the person can avail a Flexi loan to fund the idea.
You must know that Flexi loans are also offered for personal purposes by some lenders.
Flexi business loans offer flexibility in loan utilization, based on borrower's needs, with features like pre-set loan limits, quick approval, interest calculation only on withdrawn amount, and smaller instalments. Businesses of any size can qualify for this financing method, for purposes like debt management, business growth, working capital, equipment financing, etc.