business

For merchants going through a slow business phase, those getting started or the group looking to make sure their companies experience positive cash flows, gaining access to working capital is a decisive element for the survival of the business.

Short-term loans are intended for immediate financing needs such as sorting flaws that may lead to unexpected extra charges, bridging any gaps in cash flow, and making the most of latest business opportunities. The advantage with a short-term loan is that it covers your costs without compromising your daily accounts rather than draw funds from other sectors of your business.

Why you need a short-term loan for your business

Short term business loans can turn out useful during a growth phase, a span of irregular cash flow or when you need to make seasonal purchases.  In case you realize the loan will put you in a hassle to repay it hurriedly, go for a short-term loan. Other cases where a short-term loan can be of help to your businesses include:

  • Short-term operational costs – If your company wishes to purchase extra equipment or hire additional staff during festive seasons, a short-term loan can help you do the job.
  • Accounts payables vs. receivables – Short-term loans can assist cyclical businesses bridge gaps in their cash flow.
  • Cash flow – When you don’t have cash at the moment but can depend on funds coming in soon, seek for a short-term loan to effortlessly solve the problem and get your business back on track.
  • Emergency repairs – When the unexpected knocks on your door, you should be prepared to respond efficiently. Whether your computer crashes down or your packaging equipment malfunctions, a Short-term loan can get you the finances to cover your unforeseen costs.

 

How to get a short-term loan for your business

Customary lenders are conformist in their lending habits which leave SMBs few places to source their working capital. Most of them offer short-term loans in the form of lines of credit with an option of paying interest strictly with a principal payoff at a particular time in future; from 3 months to a year or even more.

However, lenders like First American Merchant have new ways to provide you the working capital you need to ensure you don’t miss any important opportunity. We will allow you draw from your agreement over and over again as you want, without imposing any early payment fees for merchants who pay off their loans quickly.…

Bike insurance is compulsory in India to protect the driver and the sufferer from any mishap. Besides, it may not always be possible to pay for the damages incurred by you to a third party. Bike insurance companies play a vital role thereby.But often bike insurance premium could go heavy on your pockets if not calculated well.

Tips to Reduce Bike Insurance Premium

You can reduce your bike insurance premium by taking into account the following factors:-

  • When you chose a bike, avoid any modified or imported bikes as their repairs and spare parts are way too costly. Also, expensive bikes with powerful engines or custom made bikes attract higher premium rates. It is advisable to go for a standard two-wheeler. If you plan to purchase of an old and used two–wheeler, bike insurance premium costs significantly drop owing to the depreciation value, repairs and maintenance etc.
  • You could be eligible for a lower insurance premium if your track record is good and you are a safe driver who has no history of accidents.
  • Get associated with any Riders Association, clubs which arerecognized by IRDAI.You get a discount on your two wheeler insurance premium. What happens is you come into good books of the insurance companies when they find a clean track record name under the books of the club or riders association, and you get heavy discounts on your premiums.
  • Your experience as a rider counts a lot. More the experience, less the risks rates. You will notice that new drivers’ insurance premiums are much higher, as the experience is low and risks are high.
  • A great scope of reducing your bike insurance premium is by paying the entire amount of your premium yearly rather than in installments.
  • Get smart and take the advantage of being a loyal customer. If you have taken other insurance policies from that same insurer, insist on discounts and you are ought to get one.
  • Transferring up to 50{e6800bccd239f8830ff5a1bf4820c06ecc48cc09990fff18d703a562acb4c567} of your existing NCB (No claim Bonus) from any bike insurance provider is a good option. In addition, if you haven’t made any claim for a good amount of time, you are eligible for no-claim bonuses as rewards. But all could go futile if you make small claims and lose out on such bonuses and discounts. Therefore, use this feature prudently.
  • You must also be vigilant during the renewal period of your two -wheeler insurance, if it lapse, you start from the scratch by paying inspection fees and more. To avoid such occurrences, renew your insurance policy before time.
  • There are a number of insurance companies willing to offer their services to you. Five minutes from your regular routine can help you save a lot on your bike insurance premium. Go to the internet and look for plans that offer and meet your demands. Look if there‘s any mid-term cancellation refund, what are the policies of a premium hike during the policy period, renewal frequency etc.compare and get your requirements met.