Did you know you could take personal loan for business? @ Letzbank

Traditionally personal loans are just that- a loan taken for meeting your personal expenses. Such expenses can range from medical emergencies, travel, family vacation, purchase of home utilities and equipment. However, it is emerging as a great way of financing business ventures too. One solid reason that borrowers find going in favour of using personal loan for business is that they are really easy to get as compared to business loans.

Scenarios and conditions that make availing of personal loan for business an ideal option:-

· The collateral issues:  For most of the start ups, coming up with collateral is the biggest challenge. Personal loans do not require security, mortgages and any similar collateral.

· When all else has failed: For those who have tried all other avenues of availing loans and failed at it then personal loans offer a great way of bridging the requirement versus availability gap;

  

· Small loan for small business: Loan for Business are not very cumbersome but quite a few formalities regarding documentation and business proposal are involved for availing them. If the scale of operations is really small and funding required runs into a few lakhs then one can opt for personal loan instead business loan;

·Time is of essence: Application, approval and processing of business loans can take standard minimum time which usually runs in weeks. If you cannot afford to spend time waiting for a loan to come through, then availing a personal loan in the meantime makes good sense;

·Avoiding cumbersome paperwork: Personal loans are quick and do not require documentation other than an identity and address proof. Online lenders sometimes not even ask for it.

A point to be mentioned here is that personal loans are more expensive than business loans. But when your requirement fits into any of the above criterion, then advantages of personal loans far outweigh the disadvantages that come with high interest rates. Letzbank provides variety of loans including personal loans at very competitive rates, terms and conditions.

Why take personal loan from Letzbank?

· User friendly interface and navigation;

· Comparative display of loans from multiple lending institutions to facilitate a sound decision;

·Collaboration and tie ups with the most reputed and reliable names like Bajaj finance, Kotak Mahindra, Fullerton, RBL, Capital first and Tata Capital;

·Tenure of 60-72 months available;

·Nominal processing fee starting from 1.25%;

·Availability of other tools like EMI calculator, Credit score and digital document locker;

·ZERO charges levied by Letzbank!

So, do not let funding and credit related issues keep you from starting your own venture. Visit Letzbank  and choose from wide range of personal and business loans today!