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The loan amount is mostly used to finance business expansion, working capital needs, improving cash flow, purchasing machinery and equipment, stocking inventory, paying rent, hiring and training employees, and other related activities.
Financial institutions provide a range of business loans, including secured and unsecured options, including working capital loans, term loans, overdraft protection, cash credit, POS loans, letters of credit, equipment financing, bill discounting, government scheme loans, and bank guarantees.
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