The 2020 year indeed taught us to have emergency funds for our business so that we can use them up during such uncertain times. However, what if you lack the facility of building emergency funds? No worries, Ziploan helps you in the best possible way with its working capital loan and other emergency funds that can help you during such slumped financial times. To understand how we can help you avail emergency funds for your business, you need to understand this subject in detail.
What Is An Emergency Fund For Business?
An emergency fund is one essential element that businesses must keep aside to tackle all emergencies and uncertainties. It is a fund on which you can rely during crisis time or for some unplanned scenarios. Many companies or businesses specially curate their emergency funds in order to match up with all the shortfalls.
We can say that an emergency fund is more like an insurance policy for your business. The only difference is that rather than paying the premiums to a company, you are paying it to yourself so that you can use yourself in an unfortunate mishap.
Importance of Emergency Funds For Business
An emergency fund gives you immediate access to cash during a tough time, quite similar to a working capital loan. It can be an emergency, a natural disaster, an economic downturn, or an unexpected medical condition. Insurance policies don’t cover everything when it comes to business. That’s where emergency funds come as a rescue plan for your business to continue its operations.
A company might suffer from cash flow issues due to inconsistent income. Many businesses have great sales during a particular season, and the rest of the year, it becomes pretty sparse for them. That’s where emergency funds for your business will help you float your business in the same boat, even during those slow times.
Ziploan Emergency Funds: Features & Benefits
Whether you wish to avail of a quick business loan in Lucknow or emergency funds with us, we assure to help our borrowers meet the highest of their expenses with our sanctioned amount. Here are the details of how our emergency funds can help your business.
Readily Available With Pre Approved Offers
All clients can get access to emergency funds within no time with great pre-approved offers that simplify the entire lending process. We also help our clients or customers with time-saving loan lending procedures so that they suffer no inconvenience during those harsh business times.
Tenor Flexibility up to Two Years
At Ziploands, you can get great flexibility when it comes to repayment. You can avail up to 2 years of repayment option time, and this helps the borrowers keep the EMIs in check and enables affordable and easy repayment.
Approval Within Minutes
Once applied, borrowers can easily receive approval of their emergency funds with us in no time. Ziploans know the exact meaning of emergency, and thus we arrange funds as soon as possible for your business to help you get through those uncertain times.
Zip loan ensures that they maintain 100% transparency when they are providing any funding to their clients. Without involving any hidden charges, they make sure to check the applicable right rates and charges to curate your repayment liability.
Eligibility & Document Requirements For Emergency Funds With Ziploans
While Ziploans is always ready to bring a helping hand for all the businesses looking for emergency funds, there are certain eligibility requirements one should clear. In addition to that, you also need to submit some important documents to complete the process and improve your chances of instant emergency fund approval.
- The business owner should be aged between 23-55 years
- Indian Resident citizenship
- Credit Score not less than 600
- City of residence or business location proof
- history or track record of business
- KYC Documents
- Employee ID Card
- Id proof
- Bank account statements
- ITR of the last two years
All these easy-going factors make Ziploan quick business loan and emergency fun offer the best if compared to other small business bank loans. Whether you wish to get assistance on the emergency fund or apply for it, you can directly visit the Ziploan website. As Ziploans is registered with NBFC, it can offer up to Rs 7.5 loans to all MSMEs in India. One thing is assured that you will get the best emergency funds loans at competitive rates with them that will be easy to repay.