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The lengthiest aspect
of getting a loan from a bank or financial institution is the tedious
background check and scrutiny that most institutions require. This process is
more often quite lengthy and, which is worse, involves proving your credentials
to the said institution. Any business owner would attest to the fact that
getting a loan without having a considerable amount in your account can be
quite demeaning. A lot of financial factors are involved; including your CIBIL
score, ITR, Balance Sheet among others. The uninitiated might feel completely
overwhelmed and a lot of great business ideas succumb to the paucity of funds. Instant loans in most
cases take an inordinate amount of time and are definitely not instantaneous.
Most micro
finance companies, NBFCs and banks have an elaborate process of sanctioning
loans and if you are a small business owner or a potential business owner, it
all begins with ITR. It is no surprise for anyone who has had the misfortune of
filing their ITR that it is a winded out affair and it is almost impossible to
get a loan without it. However, Aasaan Credits allows you to eschew this part
of the loan process. In order to get a loan from Aasaan Credits, all you need
is a certified bank account with bank statements that exhibit monetary
transaction credits. In short, if you have a bank account, you are eligible for
a loan with us.
MSME loans for business, as a model, are designed to help growing businesses with their
finances. However, for a lot of up and coming businesses, the entire process
becomes redundant because they either involve collateral or a high CIBIL
score. In most cases, it is either struggling businesses or new startups that
require such loans and without proper credentials, it becomes impossible for
them to survive. Aasaan credits allows a minimum CIBIL score of 650 as compared
to a minimum of 750 as mandated by others with a substantially minimum
processing fees of 2%.
Small business loans, despite the name, require a minimum turnover of 20 lac by most
banks and NBFCs which can be a ridiculously high amount for a business that has
not been established. It is common knowledge that startups require time and
constant effort in order to flourish and with such restrictive financial
mandates, most entrepreneurs avoid taking loans and as a consequence, the
business suffers. With Aasaan Credits, the only return requirement is a monthly
profit of INR 20,000 which is a fairly nominal amount for a small enterprise.
Unlike MSME loans,
Aasaan Credits also caters to individuals, proprietors and unregistered small
business owners which allows them to avoid GST and marginally enhance their
profit margins.
The principle
behind instant business
loans is ease of access and constant availability to those in need. At
Aasaan Credits, we strive to follow these principles. Accordingly, if a
business can provide details of their ITR, Balance Sheet, GST details and
Income Computation, they get highly reduced rates of interest. This is also a
boon for business owners with good foresight, since we do not charge on
foreclosures till six months, if a business can readily repay the loans within
the stipulated time period; they are exempted from the interest and any extra
loan closure charges.
Aasaan Credits
is slowly dismantling the conventional small loan company structure by being
consumer friendly and serving all consumers irrespective of their financial
conditions. This is in support of the startup culture that has taken the
country by storm. At Aasaan Credits, we have made the application process
extremely friendly and convenient. You can apply through our website in several
easy steps and get a loan; the entire process takes a couple of minutes and as
we promised, is completely hassle free. You no longer have to prove your
financial credentials to strangers or be harassed by bank agents and annoying
calls from NBFC marketers. You get to choose your loan amount and the
stipulated time period of returning it according to your convenience.
Getting a loan
to pursue your entrepreneurial goals was never easier.