Zip loan was set up in 2015 with the mission of ensuring easy availability of unsecured working capital to small business owners in India. The platform is enabled technologically which allows it to offer credit in a fast and hassle-free manner. Everyone needs funds to launch a new business or modify an existing one or raise working capital or buy new machinery. And there are times when a business owner doesn’t have enough funds to meet these needs and then a business loan from Zip loan comes into position. A small business loan from Zip loan is a credit facility that helps business owners by giving them hassle-free funds.
Business loan features and benefits
Small business owners can fund their business in only 3 days with loans upto Rs.7.5 lakh. The funds can be used to improve infrastructure, upgrade machinery, maintain inventory, increase working capital or expand operations. On availing of a business loan from Zip loan, some features get unlocked. They are—
1.Easy funding-Zip loan gives quick business loans ranging from Rs. 1 lakh to Rs.7.5 lakh at a very competitive interest rate. If the business owners need new business loans for 1 or 2 years, this loan is a perfect choice.
2.Flexible repayment–Zip loan has a flexible repayment tenure option wherein the business owner can repay short-term business loans as per the business revenue.He can choose between 12,18 and 24 months.
3.Unsecured Business Loans–Zip loan gives collateral-free loans, which means there is no need to hypothecate assets to avail the funds. It gives business owners access to SME lending who earlier could not get access because of unavailability of an asset for hypothecation.
4.Online Loan Application–The business owners have the option to apply for a business loan online. There is no need to visit any office but one can apply for a loan for a business without security online on our website or mobile app.
These features make zip loan business loans the best offering as compared to other small business bank loans.
Advantages of a business loan from Zip loan
Zip loan is an RBI registered NBFC that gives unsecured business loans up to the amount of Rs.7.5 lakhs to MSMEs in India. These are the advantages of getting a business loan from Zip loan:-
1.Collateral is not required-Zip loan does not need any collateral to grant a business loan.
2.Online Application–The applicant can apply for a business loan without collateral and visits the website.
3.Minimum documents needed–Zip loan needs minimum documents to process the loan application which can be uploaded easily on the website or app.
4.Easy eligibility–The business loan eligibility is easy to meet. A business to be eligible for a loan needs to have a turnover of Rs.7.5 lakh and a vintage of at least 2 years.
The following are the company’s business or commercial loan products:-
1.Working Capital Loans-A company requires the proper amount of working capital to run successfully. A sufficient amount of funds is needed to fund daily operations. If a business owner is out of working capital he can get a working capital loan from Zip loan to meet his working capital requirements.
2.Machinery Loans-A machinery or equipment is needed for production or any business. The production of products or services depends on the quality of machinery. And if the machinery is very expensive it will require heavy investment. So an MSME loan without collateral can be an ideal option to meet this type of investment.
3.MSME Loans-MSMEs in India often has to face difficulties in getting a business loan. Their requirements are not very big. Zip loan gives business loans starting from Rs.1 lakh to meet their needs.
4.Business Loans for women–Women contribute around 14%of the total businessmen in India. And so to promote women entrepreneurs in India, Zip loan gives business loans for women.
Credy Personal Loan
Credy is a customer-focused financing partner for Indians. It has innovative technology-powered financing solutions which help many needs of customers ranging from debt consolidation, educational needs, and emergencies. Credy makes sure that all credit-worthy customers get fast, reliable, and affordable loan options for their multiple needs along with great customer service. Credy has 21 plus years of finance and technological experience. It holds extensive experience in financial services, investments, and technology. It tries to meet the most pressing need of India presently which is access to fast, reliable, and affordable credit. It boasts of a rich partner base of number one companies like Fullerton India, Razorpay, Digio, Experian, etc. It is backed by many prominent investors in Silicon Valley.
It gives loan options for a personal loan, education loan, emergency loan, credit card refinancing, instant loan, online loan, etc.
Instant Personal Loan––Credy gives instant personal loans online for many needs. One can submit a quick and hassle-free application from it’s website or app, get instant loan approval, and get money in 24 hours.
Education Loan-–Education is the best investment one can make but a good education is costly. But Credy helps to realize the dreams without letting anything come in between. So be it online certifications, exam preparation, children’s school fees, coaching expenses Credy is there to finance all these educational needs. It partners with educational institutions to convert the upfront fees into a monthly instalment plan which is free and convenient.
Emergency Loan—Emergencies can be of any type, medical emergency or an urgent need for extra funds for marriage or any unplanned expense that may arise unexpectedly. A quick personal loan from Credy can be got in 24 hours helping people in need of immediate quick funds. It also gives flexible tenure and affordable interest rates to help the borrower. It gives a very easy-to-follow process for loan applications which gives the fastest approval of applications. The terms of eligibility are simple and easily accessible for all. There are very few documents needed to get the loans too. These unsecured loans are transferred directly to the bank and the whole process is online and the customer support is very prompt and helpful to facilitate the whole process.
Credit Card Refinancing—It’s very convenient to shop with credit cards. We can shop online and pay in periodic subscriptions. Credit cards are cool when we have a steady source of income that supports the monthly bills. But it becomes problematic when we lag on the bill payments. Then the credit cards turn from a free cash advance into a costly loan with big fees and delayed delivery. The credit card interest is charged even when a part of the bill is outstanding. Even if the minimum due amount is paid the interest is still charged on the remaining unpaid amount. If you have an outstanding amount past the due date, any new expenditure is charged an interest rate of 36-42% from the day of expenditure to the date of repayment of dues. The credit card becomes a high-interest-running loan at this point. Credit card delays affect the credit score making credit card or future loans very costly and infeasible.
With the help of Credy one gets instant approval for Credy refinancing. One just needs to verify the Aadhaar card, sign the agreement electronically. Then one needs to give credit card A/C details and submit auto-debit instruction. Credy repays the bill directly in cheaper EMIs and helps to save money and save the credit score. Credy charges around 18-25%, unlike credit cards which charge upto 42%. The fresh expenditures are not charged. It improves the credit score.