While some still face the dilemma, the others have already figured out a befitting solution to answer their different financial necessities, varying in accordance with the nature of the want. Having said that, if you are still not over the question “Is Chartered Accountant loan good for financing CA firm?”, here are a few arguments that will aid your decisive skills.
1. Larger sum available
Talking in regards to short-term business loan, a large number of schemes offer a lower sum as a loan, often insufficient to fulfil the purpose of the loan. Compelled by the deficiency, the borrower has to make a fresh credit application, adding more financial liabilities on his/her account. However, a loan for chartered accountants offers practically conducive sum, capable of answering all financial queries of the borrower.
2. Flexibility of usage
Every generic financial loan is offered on certain terms that restrict the use of borrowed capital for any purpose other than the allowed ones. On the contrary, a CA loan, once obtained, can be used to cover almost all genuine personal expenses and for business expenses.
3. Flexible repayment tenor
CA loan features flexible repayment tenor. The flexi payment plan allows the borrower to repay the interest component as EMI and settle the principal component through partial prepayments at regular intervals.
Bottom line: Having connecting questions is OKAY, but being stuck on the same questions for ages is NOT OKAY. Use your reasoning skills to come up with an appropriate response, a good business loan scheme to be precise, to solve your financial queries. Otherwise, refer to someone with sound judgement skills to help you reach a conclusion.