If you are a professional and have an existing business or firm, you must be aware that you need funding and financing to continue your business and expand it further. You can manage all these finances with the support of a Chartered Accountant Loan, a specialised loan for CA professionals. What are the reasons that demand CA application?
To pay daily expenses – Business operations need to continue without any failure. To bear the expenses of day-to-day operations, you need working capital. You may need to pay overheads, salaries, repay debts or bear some unexpected expenses. In these situations, CA Loan comes as a saviour. You can even use the loan amount for the expansion of client base.
To expand your firm’s growth- You can apply for a CA Loan up to Rs. 35 lakhs and use it for the expansion of your business. Such loans have flexible tenor which helps to repay the loan as per convenience.
To fund some assets- Your firm may need company vehicles, computers, equipment, etc. To finance the purchase of such assets, you can take the support of a CA Loan. When you do not need those assets anymore, you can sell them and repay your loan.
To repay other debts and liabilities- You may have taken certain loan, debts, and liabilities in the past like credit cards and are unable to repay those. You can take the support of a CA Loan to repay those various debts. Clearing up other debts will also help you to increase your credit score.
To finance whenever required- You may not need the whole cash all at a time. With the help of a Flexi loan, you can use the money as per requirement.
To get a new office- If you want to shift to a bigger and better location or office, you can fund that with a CA Loan.
Follow the above mentioned ways to utilize a Chartered Accountant Loan, It will help you to overcome your financial woes.
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.