In today’s competitive market, no business wants to stay left behind. One of the most
common problems faced by businesses is the lack of required funds. It is the reason why
most of the companies look forward to take a term loan to expand their business by
different means. Whether you want to buy high-end equipment for your business or
take premises on lease for work purpose, a term loan will serve your purpose.
Term loan is just one of the different business funding options. Apart from the term loan,
the different funding options available are:
- Working Capital Loan
- Loan Against Property
- Over Draft and others
To get a detailed idea of what funding option should be ideal for your business
expansion and why, you can always reach out to us. Our professionals will make sure
you get a personalized and apt consultation according to your business requirements. If
you are not aware of what a term loan exactly is then read ahead.
What is a Term Loan?
A term loan is a business loan that is availed for getting a specific amount to acquire,
construct, establish, or install a capital asset. The term loan has to be repaid at regular
intervals over the decided time-frame, and it either has a fixed or a floating interest
rate. Credit worthiness of a borrower plays a vital role in determining the interest rate.
The repayment schedule can be either on a monthly or a quarterly basis; it will depend
on the bank and other loan-related aspects. Based on your requirement, you can
apply for either short, intermediate, and a long-term loan. The term loans are usually
provided for tenure between 3 to 10 years.
Why apply for a term loan through a third party?
Term loans indeed help businesses by buying high-end machinery or lease premises, but
getting such a loan is not an easy task. Every financial institution follows stringent
guidelines to reduce the risk of non-payment. Moreover, the cumbersome
documentation process makes the entire application process even more difficult. A lot
of businesses, despite having sound financial records failed to get approval for the term
loan due to the complicated documentation process.
Apply Legal is a reliable tool that understands the current business funding and legal
requirements. We have a pool of highly experienced and certified professionals that
have handled several similar cases and helped our clients fulfill their needs. At Apply
Legal, our professionals will provide you end-to-end support and ensure your term loan
application gets approved at the earliest.
How Apply Legal assists in getting a Term Loan?
- At Apply Legal, we follow an organized approach for everything. Apart from submitting
some ready documents, a detailed project report is also required to be submitted
along with the application. Here is how our professionals work on your term loan needs.
- The assigned professional will first understand your business along with the
proposed plans and the capital requirement.
Based on the collected information, the person will prepare a detailed project report.
- Once the report is ready, the person will submit all the documents and the prepared report along with the application form to the respective financial institution.
- The professional will follow-up with the financial institution till the time the applied loan amount doesn’t get credited in your account.
Why Apply Legal?
If you are searching for a partner that is both reliable and professional that can take
care of all your funding and legal requirements with ease, then Apply Legal should be
your ultimate choice. Check out what makes us different from the rest.
- Get Professional Assistance: Based on your requirements, we will assign the best
matching professional to handle your requirement. With our team working on
your needs, you can always rest assured of getting a positive result.
- Transparent Pricing: Unlike most of the similar platforms, we don’t have any
hidden charges. Our pricing options are both upfront and transparent, so none
of our clients have faced an issue till date.
- Quality Services Guaranteed: Providing quality services with utmost professionalism is the basis of our working processes. To safeguard our client’s interest and resources, we also have a “Satisfaction Guaranteed Policy.”
- Refund of Professional Fees: If you are not satisfied with our services or feel that the services were not delivered as promised, then we will refund the entire professional fees.
If you are looking forward to applying for a term loan, then Contact us at
firstname.lastname@example.org today. You can reach out to us for a free consultation as well. We
will be happy to assist.
What are the consequences of not furnishing SFT?
‘]6[/simple_tooltip] of the Act at the rate of one hundred rupees for everyday till such a failure continues. In case of a failure to furnish statement after the prescribed time limit of the notice to furnish SFT, the failure would attract a penalty of five hundred rupees for everyday for which the failure continues.