Lesser documentation: When was the last time you needed to facilitate a whole lot of documentsforSME loan eligibility to receive your SME loan? Well, those days are gone, literally, when you had to provide additional documents that you were not sure you had.  For credit card holders who have small and medium enterprises, the process for seeking loans becomes simpler. Banks like Kotak offer facilities against the documents have already been taken during the application process, which means that one will need to provide significantly lesser documents.

Access higher limits: When the world is particular on the amount of loans they disperse, it’s quite possible to access higher limits with a credit card. For those who thought that they would not have the capability of accessing any type of limit, the minimum accessible via a credit card should be significant enough to meet your needs.

Indeed, a credit card allows the owner to bypass the procedure required for SME loans. Hence, it almost seems logical that a credit card should be an ideal route to gain an SME loan and strive towards company expansion. Thus, use your credit card as the right channel to meetexorbitant expenses as well meeting emergency financial payments, working capital needs, or any other corporate finances that cannot be paid solely by a corporate credit card. Ensure that the bank you choose offers this facility on the type of card you choose. Depending upon the credit card, you may have access to certain types of loans which should give you an idea of the amount you can repay and return through your credit card.

Author Bio:

Anupama Sughosh is an independent finance blogger who loves writing about the rise and fall in the world of finance, banking, general industry trends and corporate sustainability. She holds a rich experience of working with corporates such as KPMG as well as institutions such as TISS, her articles share insights from the individual and the corporate perspective.