One of the advantages of business loans is that they do not require a lot of documentation. In fact, certain customers can acquire loans without any collateral, guarantor, or security to cover their entire range of needs, from expansion to working capital. Some banks will also provide you with doorstep services. Because of increased competition among banks, interest rates on Business Loans are quite low, allowing you to obtain a Business Loan without worrying about huge repayments. Of course, interest rates charged by banks differ from one customer to the next, depending on creditworthiness, term, and the purpose of the Business Loan. The interest rate on a loan can range from 11.5 percent to 24 percent.
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