A business loan for engineers is a handy tool to offer you easy funding to establish or boost your business and to keep off the financial burden! Read on and discover more!
Boman Batlivala, an engineering professional, and a resident of Mumbai who had a work experience of seven years as a consultant engineer. He wanted to utilize his gained experience so far in establishing a business of his own. But despite the excellent command over his work and its operation, he lacked funds to kick off the business.
At the same time, another engineer friend who had established his own business some years back suggested him to apply for a business loan for engineers.
He informed Boman that he could borrow up to Rs.15 lakh in a business loan for engineers from leading online creditors. Boman followed his advice and avail for a business loan for engineers, established his business, and is a proud owner.
If you are the one just like Boman, you should be informed that you need not let your professional talent go waste due to the dearth of the money. Lenders have come up with a business loan for engineers to honor their profession and you should avail it to your advantage.
What is a business loan for engineers?
Over the years, there has been a consistent rise in the number of engineering professionals willing to start their own engineering business. But because of the funding issues, many are forced to work for others. Not anymore! Online lenders have recognized this, and offering engineers a business loan for engineers to cherish their dreams.
A business loan for engineers helps self-employed engineers willing to expand their businesses and consultant engineers looking to establish own business. As a result, you can easily borrow a higher amount of up to Rs.15 lakh to help cover your needs.
Do you have all the basic documents required to avail engineer loan?
Engineer loans require you to submit certain documents as part of the application process. Make sure you have your papers in order to avoid delays. These documents include:
- KYC documents
- Passport-size photographs
- Business vintage for 3 years
- Details of your engineering degree
- Business proof such as a certificate of practice
- Correctly filled out the application form
Rely on a business loan for engineers and give wings to business!
Here’s how the features and benefits of a business loan for engineers can work in your favor to give leverage to your business! Have a look!
Loan up to Rs.15 lakh
A business loan for engineers offers you a high amount of a loan. Hence, you can easily borrow up to Rs.15 lakh to fund your needs to establish or expand a business. When you have a large amount to borrow, it means that you won’t have to look for other option to fund your ventures.
Swift processing and approval
Since you are borrowing the money to start your business, you can’t wait for ages for the approval to come, and lenders know this! As a result, they let you apply for it online filling an online application form and approve your application within 48 hours.
The advantage of flexi loan
A flexi loan in a business loan for engineers lets you withdraw any amount from your sanctioned limit within a tenor as per your wish. You are also able to pay only the interest as EMIs and the rest amount after the completion of the tenor.
All that you provide is your engineering degree details, business vintage certificates, and KYC documents to apply smoothly for the loan. It saves you from the tedious practice of lengthy documentation.
Online account access
Lenders also offer to access all loan related information on their website that you can access with an ID and a password. As a result, you can know your loan amount, an interest rate, EMI payment dates, and more.
The Bottom Line
A business loan for engineers rightly keeps the entire financial burden off your shoulders by providing you with enough finance to run your business smoothly. If you are looking to apply for a business loan for engineers, you can compare the best deals on third-party websites!