#Business

Secured or unsecured loan? Here’s a guide.

1. Secured loan is taken against any collateral like house, land, car or jewellery. It is easy to get since the lender can sell the collateral if you default.

A. Secured loan types
1. Loan against property
2. Auto loans
3. Invoices

B. Pros of secured loan
● Low interest rates
● You might get the loan even if you don’t have a superb credit score
● You can borrow a large amount, based on your credit history and value of the collateral
● Long repayment tenure

C. Cons of secured loan
● If you default, you might lose your collateral
● Long tenures inflate the interest burden


2. Unsecured loan needs no collateral and is approved based on your creditworthiness. Since the lender’s risk is high, the interest rates are high and repayment tenures and loan amounts are small.

A. Unsecured loan types
1. Line of credit
2. Term Loan

B. Pros of unsecured loans
● No collaterals required
● No risk of losing assets kept as collateral
● Loan application and processing is fast

C. Cons of unsecured loans
● Small loan amount
● High interest rates
● Impressive credit score required

What you choose depends on your ability to repay, attitude towards risk and need. In both cases, you need a good credit score and should repay on time.

#HeroFinCorp#BusinessLoan​ #Business#Loan#Credit#unsecuredloans​ #unsecuredloan#securedloans​ #securedloan#smallbusiness#BusinessTips

www.youtube.com/watch?v=3heuz-KFk0E
Here is How Invoicing Software Can Strengthen the Growth of Your Business

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For accurate invoicing, depending on invoicing software can be just the right choice.

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Most Reliable Billing Software For Business? Here is Your Answer

www.cloudbooksapp.com/billing-software.html

You can end your search for the best billing software for business by equipping yourself with CloudBooks.

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Use Time Tracking Software to Improve The Efficiency of Your Business

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Every business can tremendously benefit from time tracking software.

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What are the benefits of unsecured loans for your small business?

1 – Reasons why you should take an unsecured loan for your business.

2 – No need to pledge any collateral. You can avail it even if you don’t have an asset as a collateral.

3 – Easy to qualify – You need to prove a stable monthly income and submit PAN and UID.

4 – Loan application and processing is simple and quick, due to minimal documentation.

5 – You can apply for a large loan amount that is not limited by the value of any collateral, unlike secured loans.

6 – Flexible repayment solutions keep you stress-free.

7 – You get to earn the lender’s trust by paying off small loans quickly and can get a bigger loan in future.

8 – The loan amount can be used any way you want – for acquiring assets, starting or expanding a business, or even as working capital.

9 – Less paperwork involved, since no asset is required. You can apply online and send scanned copies of income and identity proofs.


To know more, click here - bit.ly/32B4hAx​.

#HeroFinCorp#BusinessLoan​ #Business#Loan#Credit#unsecuredloans​ #unsecuredloan#smallbusiness#BusinessTips​


www.youtube.com/watch?v=r1FCdDUC4U0
What are the benefits of unsecured loans for your small business?

1 – Reasons why you should take an unsecured loan for your business.

2 – No need to pledge any collateral. You can avail it even if you don’t have an asset as a collateral.

3 – Easy to qualify – You need to prove a stable monthly income and submit PAN and UID.

4 – Loan application and processing is simple and quick, due to minimal documentation.

5 – You can apply for a large loan amount that is not limited by the value of any collateral, unlike secured loans.

6 – Flexible repayment solutions keep you stress-free.

7 – You get to earn the lender’s trust by paying off small loans quickly and can get a bigger loan in future.

8 – The loan amount can be used any way you want – for acquiring assets, starting or expanding a business, or even as working capital.

9 – Less paperwork involved, since no asset is required. You can apply online and send scanned copies of income and identity proofs.


To know more, click here - bit.ly/32B4hAx​.

#HeroFinCorp#BusinessLoan​ #Business#Loan#Credit#unsecuredloans​ #unsecuredloan#smallbusiness#BusinessTips​


www.youtube.com/watch?v=r1FCdDUC4U0
Different Ways Commercial Business Loans Can Help The Business Grow

These are four different ways you can expand the #business with #commercial business #loans.

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Click here - bit.ly/3lPR6Vj
Tips to Prepare Your Business For a Business Loan Without Collateral

It is not something new or unusual for any #business to suffer from a cash crunch and if your business is going through the same, you can apply for a business #loan without #collateral.

Read more - <a rel="nofollow" href="bit.ly/3rf3XSR">bit.ly/3rf3XSR</a>

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How to Repay Business Loan if your Business Is Incurring Losses,

1. Slash unnecessary costs to free up cash

Revisit your expenditures and ditch unnecessary ones like software subscription, expensive systems and also office space if you’re paying rent. Ramp up your outstanding payments collection efforts and sell off unused equipment or gadgets.


2. Priorities debt payments

Focus on paying off debts with higher interest rates first, such as credit card bills, followed by any secured loans. Paying off creditors etc. can free up your assets too.


3. Talk to your lender

Explain your financial situation to your lender and what measures you are taking to manage the situation at hand. Be honest and forthcoming about your issues.


4. Loan restructuring

By doing this, your EMIs will come down, and it will be easier for you to manage your monthly payments.


5. Loan rescheduling

The tenure can be extended by lowering the interest or adding more number of instalments to reduce the monthly EMI amount.

6. Refinance

Refinancing is a good option to repay business loans if the debt is costing you a lot in terms of interest payments, or if you feel it’s risky to continue, or you have multiple small debts.

Remember: The lender can resort to legal actions or exercise recovery measures to get back the money. It is best to work with the borrower to arrive at an amicable situation, which serves the interest of both parties.

Get more information at bit.ly/3suWlvL​.
How Consultants Can Pick The Best Invoicing Software - <a rel="nofollow" href="bit.ly/3bdjwnx">bit.ly/3bdjwnx</a>

Are you looking for a competent #invoicingsoftware for your #business? Go through the below checklist to ensure they fit every parameter of a great invoicing #software.
#ConsultantsbestInvoicingSoftware
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#InvoicingSoftwareFree