loans can be availed even for stock management,
6. Diversifying Product Range Business loans can be availed even for stock manageme find nt, manufacturing costs, and extending the product and service line. To grow the business, one needs to expand the range of products that the company sells. This is a strategy adopted by many business firms to grow their business through various ways of marketing a product or improvising the existing products and services by adding certain salient yet unique features. 7. Competitive Interest Rates Business loans are offered at very nominal processing fe house es and a competitive interest rate. They are also available to common people wit e credit report to negotiate on the applied rates of interest if the organ business ization or businessman has a credible credit score. 8. Hassle-free Application Process For small ventures and start-ups, the application process is very simple and involves only the submission of the business plan inclusive of the estimated start-up and mana