Everyone needs a chartered accountant to handle our financial matters now be it for investment purposes or simply cutting down on our taxes. The demand for CAs has increased several-fold. According to a recent study though there are not many CAs around, yet this gap is reducing with more accountants joining the workforce.
This gives you a great opportunity to grow your reach and expand your offerings. With the Budget soon to be announced and more firms becoming GST-compliant, the time is ripe for you to fuel your CA firm with the working capital you need.
A Flexi Business Loan customised for CAs is a collateral-free funding solution offered by Bajaj Finserv, using which you can tackle all the needs of your firm. Check these 3 ways on how you can boost your CA practice:
Keep your working capital strong even with fluctuating receivables
While your clients may not clear your dues on time, your fixed monthly costs require payment in a timely fashion. Whether it is staff salaries or rent, sufficient working capital ensures the smooth functioning of your firm. When you notice working capitals gaps, you can rely on the Business Loan for CAs, which gives you financing up to Rs 32 lakhs.
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The Flexi Loan facility of this loan is an industry-first from Bajaj Finserv, which allows you to borrow from your sanction multiple times as per your needs. Interest is charged only on the amount you utilise, which helps you save more. You can also choose to pay interest-only EMIs and repay the principal at the end of the tenor when you receive your dues from your clients. This allows you to manage your cash flow better while reducing your EMIs by up to 45 per cent! This way you can address your recurring working capital needs conveniently.
Hire new staff and expand your services with ease
With the tax filing work gathering pace as the July 31st deadline approaches, you may want to hire additional articles to help in creating audit reports, doing tax planning, and filing requisite paperwork. The expanding Indian start-up ecosystem also provides an opportunity for you to expand your services to offer assurance, corporate recovery, or risk assessment. Using the Business Loan for CAs, you can get the right talent on board and even set up a new branch.
Upgrade your firm with the right software and repay comfortably
From introducing GST accounting platform integration to putting in place a cloud-based system, technological support can help you build a robust practice. Purchase software, laptops, and other equipment or hire software experts using the Flexi Loan.
Since it offers a repayment window of 12 months to 60 months, you can repay at a comfortable pace. What's more, its unsecured nature means that you don't need to risk your personal or professional assets or even have a guarantor on board.
A Flexi Business Loan for CAs can thus boost your practice while being flexible enough to cater to your changing cash flow needs comfortably. To get started, check your pre-approved loan offer from Bajaj Finserv. This will help you access a tailor-made deal, which allows you to apply in one step and get instant approval!
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.
Disclaimer: No Business Standard Journalist was involved in creation of this content
