India, April 7 -- Starting a business requires two key components: competitive research and ample funds. Once you have decided what type of business you want to start, the size of your business and other basics, you can get an accurate estimate of your financial standing.

Depending on your requirements and if you can pledge any collateral, lenders give you the option to choose between a secured and unsecured business loan. Your loan obligation, including EMIs, impacts your cash flow and, hence, the overall financial planning. Understanding both types of business loans beforehand helps in making an informed decision

From startup financing to working capital, business loans can be used for any purpose. Before applying for a loan, you need...