How to Avail Business Loans for Raw Material Purchase in India?

Rising overhead expenses, increasing prices of raw materials, and excess inventory are causing challenges in successfully running small and medium-sized businesses. Consequently, SMEs and startups are turning to financial service providers for business loans.

However, the lack of collateral is making it difficult for various companies to avail loans. This is where OfBusiness steps in with its best-in-class business loans for raw materials. By providing the raw material loan, OfBusiness is helping SMEs procure raw materials for running their operations seamlessly. Companies can avail credits for procurement of raw materials for their day-to-day activities.

OfBusiness has introduced raw material business loans under the aim to help companies reduce the burden of paying higher interest rates. In this scheme, companies or individuals have to pay interest for only the amount availed from the total credit.

An added advantage of partnering with OfBusiness is that you can get business loans up to two crores. Now you needn’t worry about carrying out the day-to-day operations of your company. Get the best quote from OfBusiness today.

OfBusiness Loan for Raw Materials — Key Features

Loans up to 2 crores:

The business loan offered by OfBusiness can combat major financial issues of the company. Firms can get a loan up to two crores. The credit you’re eligible for depends entirely upon your previous credit history.

If you’ve maintained a good credit history, you can qualify for up to 2 crores. Request a FREE quote and check the amount you can avail.

Flexi Loan Facility:

The added benefit of availing business loans for procurement of raw materials is that you can choose your repayment plans. Repayments at OfBusiness are highly flexible. Withdraw and repay funds as per the repayment plan you opt. You can even change the repayment plan in between if you wish to. We understand the need for financing during these times.

As such, we have introduced Flexi repayment plans and schemes for SMEs and startups.

Collateral-Free Loan:

OfBusiness offers a collateral-free loan. Yes, you’ve heard it right. You don’t have to submit any business-related asset to get the loan. The loan amount entirely depends upon the credit history and profile of the business owner.

It doesn’t matter if you don’t have any collateral as security for business loans. And, an added feature is that you can get the amount credited in your account in maximum three days. In addition to this, the approval of a loan needs minimal documentation.

It isn’t easy these days to get collateral-free loans as most financial service providers limit loans for businesses with property or other valuable assets. OfBusiness eliminates this challenge.

Avail Amount as Per Requirement:

Once you’ve got the credit limit approved; you can withdraw the amount as per the requirement. The essential advantage of this facility is you have to pay interest for only the amount withdrawn.

We charge a fair interest rate as our loans are designed especially for small and medium-sized enterprises.

Easy Repayment Options:

We understand that these are challenging times. The COVID-19 pandemic has made it difficult for us to travel like the old days. As such, we’ve introduced online repayment options. You can repay the business loans at the comfort of your home in seconds.

Our application supports payment gateway, UPI, Virtual accounts, Paytm, PhonePe, BBPS, and much more.

How to Apply for Raw Material Loan?

Availing a loan is effortless these days. It requires minimum documentation and will get approved in as low as three days.

Check the credit limit with your details and submit the necessary documents. The best part about OfBusiness is that you can do the complete process online, without the hassle of travelling.