{"id":33,"date":"2019-01-24T09:04:30","date_gmt":"2019-01-24T09:04:30","guid":{"rendered":"https:\/\/blogindifi.wordpress.com\/2019\/01\/24\/5-ways-to-ensure-that-you-secure-the-best-business-loan-for-your-travel-agency\/"},"modified":"2021-02-09T09:24:28","modified_gmt":"2021-02-09T09:24:28","slug":"ensure-secure-business-loan-for-travel-agency","status":"publish","type":"post","link":"https:\/\/www.indifi.com\/blog\/ensure-secure-business-loan-for-travel-agency\/","title":{"rendered":"5 Ways To Ensure That You Secure The Best Business Loan For Your Travel Agency"},"content":{"rendered":"\n<div class=\"wp-block-image size-medium wp-image-570\"><figure class=\"alignleft\"><img decoding=\"async\" loading=\"lazy\" width=\"500\" height=\"292\" src=\"https:\/\/blog3.indifi.com\/wp-content\/uploads\/2019\/01\/5-Ways-to-Ensure-that-You-Secure-the-Best-Business-Loan-for-your-Travel-Agency-500x292.jpeg\" alt=\"5 Ways to Ensure that You Secure the Best Business Loan for your Travel Agency\" class=\"wp-image-570\" srcset=\"https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2019\/01\/5-Ways-to-Ensure-that-You-Secure-the-Best-Business-Loan-for-your-Travel-Agency-500x292.jpeg 500w, https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2019\/01\/5-Ways-to-Ensure-that-You-Secure-the-Best-Business-Loan-for-your-Travel-Agency.jpeg 626w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><figcaption><em>5 Ways to Ensure that You Secure the Best Business Loan for your Travel Agency<\/em><\/figcaption><\/figure><\/div>\n\n\n\n<p>As a travel business agency, you probably need additional money for several reasons. Whether you are looking to expand your portfolio, hire extra staff, bridge the cash flow gaps in your operation expenses, looking to move to a new office or for any other reason\u200a\u2014\u200aa small business loan is an excellent way to grow and expand your travel business.<\/p>\n\n\n\n<p>Here, in today\u2019s guide, you can find a list of tips from business experts that will help you secure your travel business loan with ease.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-background has-vivid-green-cyan-background-color\" href=\"https:\/\/www.indifi.com\/travel-agency-financing-online-india\">Travel Agency Business Loan<\/a><\/div>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_67_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.indifi.com\/blog\/ensure-secure-business-loan-for-travel-agency\/#1_Determine_The_Amount_You_Need_Why_You_Need_It\" title=\"1. Determine The Amount You Need &amp; Why You Need It\">1. Determine The Amount You Need &amp; Why You Need It<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.indifi.com\/blog\/ensure-secure-business-loan-for-travel-agency\/#2_Be_Aware_Of_Your_Credit_Score_Work_On_Ways_To_Improve_It\" title=\"2. Be Aware Of Your Credit Score &amp; Work On Ways To Improve It\">2. Be Aware Of Your Credit Score &amp; Work On Ways To Improve It<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.indifi.com\/blog\/ensure-secure-business-loan-for-travel-agency\/#3_Know_The_Different_Types_Of_Business_Loans\" title=\"3. Know The Different Types Of Business Loans\">3. Know The Different Types Of Business Loans<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.indifi.com\/blog\/ensure-secure-business-loan-for-travel-agency\/#4_Prove_Your_Ability_To_Repay_The_Loan\" title=\"4. Prove Your Ability To Repay The Loan\">4. Prove Your Ability To Repay The Loan<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.indifi.com\/blog\/ensure-secure-business-loan-for-travel-agency\/#5_Demonstrate_Cash_Flow\" title=\"5. Demonstrate Cash Flow\">5. Demonstrate Cash Flow<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.indifi.com\/blog\/ensure-secure-business-loan-for-travel-agency\/#Finally_Choose_The_Right_Lender\" title=\"Finally, Choose The Right Lender\">Finally, Choose The Right Lender<\/a><\/li><\/ul><\/nav><\/div>\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Determine_The_Amount_You_Need_Why_You_Need_It\"><\/span>1. Determine The Amount You Need &amp; Why You Need It<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Before you start looking for a lender, you should first determine the amount you are seeking as a loan and why you need that amount. When lenders see that you have a clearly defined need, and you are clear on how you are going to spend that amount, they see that you are committed to the loan. This improves your chances of securing the loan.<\/p>\n\n\n\n<p>Having a detailed financial plan on how you intend to spend the loan amount and how you plan to repay it, goes a long way in getting your loan sanctioned.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Be_Aware_Of_Your_Credit_Score_Work_On_Ways_To_Improve_It\"><\/span>2. Be Aware Of Your Credit Score &amp; Work On Ways To Improve It<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Though different lenders have varying credit score requirements, boosting your credit score will work in your favour while submitting the loan application. If you have any outstanding credit card bills and other dues, make sure to settle these, before applying for a loan.<\/p>\n\n\n\n<p class=\"has-text-color has-vivid-green-cyan-color\">Also Read: <a href=\"https:\/\/blog.indifi.com\/3-reasons-why-travel-agencies-must-focus-on-winning-corporate-clients-fed37e7f1991\/\">3 Reasons Why Travel  Agencies Must Focus On Winning Corporate Clients<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Know_The_Different_Types_Of_Business_Loans\"><\/span>3. Know The Different Types Of Business Loans<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Before you approach a lender, finding out the right type of business loan that works for you is imperative. Understanding the different types of loans available helps you choose the right one that suits your specific needs.<\/p>\n\n\n\n<p>Here\u2019s a quick highlighter on the different types of <a href=\"https:\/\/www.indifi.com\/business-loan\" target=\"_blank\" rel=\"noreferrer noopener\">business loans<\/a>:<\/p>\n\n\n\n<ul><li><strong>Term Loans<\/strong>\u200a\u2014\u200aIf you require one-time capital needs for various needs like\u200a\u2014\u200aexpanding your office, hiring new team members, marketing and more\u200a\u2014\u200aterm loans are the best solution for you. These are short-term unsecured loans with tenure of up to 36 months, and interest rates starting from as low as 1.5%.<\/li><li><strong>Line of Credit\u200a<\/strong>\u2014\u200aAlso known as overdraft facility, this works well for businesses that require frequent cash inflow. When you choose a line of credit from digital lenders like Indifi, you enjoy minimal interest rates, amount flexibility, low processing fees and quick approval.<\/li><li><strong>Invoice Discounting<\/strong>\u200a\u2014\u200aDo you find it difficult to manage late payments from clients? Then, the invoice discounting is an excellent option for you. Here, the lender pays you up to 90% of the invoices you raise to clients, and you can repay the amount when the client pays you.<\/li><li><strong>Merchant Cash Advance<\/strong>\u200a\u2014\u200aAs a travel agency, most of your transactions probably happen through credit or debit card swipes. The merchant cash advance lets you borrow money for various business needs and you can repay your lender directly, through daily deductions from your swipe machine transactions.<\/li><\/ul>\n\n\n\n<p>Check out the features and terms and conditions of these different business loans, and choose the right one that meets your specific requirements.<\/p>\n\n\n\n<p class=\"has-text-color has-vivid-green-cyan-color\">Also Read: <a href=\"https:\/\/blog.indifi.com\/how-indifi-is-helping-defy-the-challenges-faced-by-growth-hungry-travel-agencies-5635bc0297a4\/\">How Indifi Is Helping  Defy The Challenges Faced By Growth-Hungry Travel Agencies?<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Prove_Your_Ability_To_Repay_The_Loan\"><\/span>4. Prove Your Ability To Repay The Loan<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>If you are a small business, who is just getting started, then your lender will evaluate your ability to repay the loan before sanctioning it. If you have any property registered in the name of your business, then you can use this collateral to secure your loan.<\/p>\n\n\n\n<p>Don\u2019t own any assets? Worry not, several digital lenders now offer business loans without the need for any collateral or guarantor.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Demonstrate_Cash_Flow\"><\/span>5. Demonstrate Cash Flow<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Your lender will ask you to submit your business cash flow statements before they approve your loan. Make sure that you have the required document at hand like\u200a\u2014\u200ayour bank statements, tax returns, invoice details and more.<\/p>\n\n\n\n<p class=\"has-text-color has-vivid-green-cyan-color\"><a href=\"https:\/\/www.indifi.com\/travel-agency-financing-online-india\">Apply Business Loan For Travel Agency <\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Finally_Choose_The_Right_Lender\"><\/span>Finally, Choose The Right Lender<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Traditional lenders like banks usually don\u2019t offer loans to small businesses and startups that are finding their feet. And, even if they do, they may charge higher interest rates, require you to submit collateral, and come with prepayment penalties and other processing charges.<\/p>\n\n\n\n<p>On the other hand, several digital lending platforms like Indifi, provide an array of simple and tailored business loans, customized to your industry requirements. Make sure to spend some time researching on the different types of lenders available and the various loan products, before you choose the right lender who offers you the ideal business loan at the best terms.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As a travel business agency, you probably need additional money for several reasons. Whether you are looking to expand your portfolio, hire extra staff, bridge the cash flow gaps in your operation expenses, looking to move to a new office or for any other reason\u200a\u2014\u200aa small business loan is an excellent way to grow and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[187],"tags":[12,22,26,17],"_links":{"self":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/33"}],"collection":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/comments?post=33"}],"version-history":[{"count":10,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/33\/revisions"}],"predecessor-version":[{"id":3993,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/33\/revisions\/3993"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/media\/570"}],"wp:attachment":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/media?parent=33"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/categories?post=33"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/tags?post=33"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}