Working capital is a basic necessity for every business, regardless of whether your practice is big or small. Whether you have limited liquid assets and find that your firm is in need of a quick financial boost or you want to capitalise on tax filing season and expand your practice, you can rely on the Bajaj Finserv Flexi loan for CAs to restore your cash flow to optimal levels and help add to your revenue too.
Bajaj Finserv Flexi loan for CAs provides solutions to all your financing needs. It requires no collaterals or guarantors and promises a 24-hour disbursal prior to approval of your application. With loans up to Rs 35 lakh, CAs can use this loan to meet working capital needs, fund their firm's growth and expansion, meet unanticipated cash requirements, etc.
Take a look at how Flexi loans, designed specifically for chartered accountants, helps your working capital in several situations.
Grow your practice without letting your present operations suffer
If you are planning to diversify your practice to accommodate newer wings like international trade, GST compliance, industry-specific audits and the likes, you will need funds to build these verticals. However, you may not always have the finance for this at your disposal. In this case, you will need funds from an external source to pay for diversification expenses.
You can completely rely on the sanction of Rs 35 lakh that the Bajaj Finserv Flexi business loan for CAs gives you to fund all your diversification needs. The substantial loan helps you access finance as and when you need it so that you do not have to abruptly halt your plans just because of a low bank balance.
Tackle delayed payments smoothly
You can withdraw from your Flexi loan sanction as per your needs, in parts. This means if you get a sanction of Rs 30 lakh and you need to pay salaries for your employees owing to a fund shortage, you can access the required amount from your sanction. In this case, if you are withdrawing Rs 7 lakh from your sanction then you can use it pay your staff on time and set aside the balance for subsequent needs. The best part is that you only have to pay interest on the amount that you use from the loan and not the entire sanction. In this case, it means paying interest on Rs 7 lakh and not Rs 30 lakh.
Upgrade your software without selling your assets or dipping into your savings
In your profession, adapting to the newest technology will always give you an edge over your competitors. However, investing in software can cost you a fortune, especially if you are planning to upgrade systems for your entire office. Fortunately, you can use your Flexi loan to make necessary changes while keeping your wallet happy. Here you can withdraw from your sanction as per your needs and repay your loan conveniently too.
Apart from the fact that you only have to pay interest on the amount you use, you can also choose to repay via interest-only EMIs through the tenor and then pay the principal right at the end of this period. This way you can manage your cashflow without experiencing any financial strain, saving up to 45% in the process.
So, whether it is setting up an office in a different city, hiring key advisors on a contractual basis or to tackling working capital gaps, you can do it all using a Flexi loan. Remember to check your pre-approved offer when you apply to select a deal that best serves your needs and enjoy quicker sanction.