A professional loan is a godsend for those who qualify as self-employed professionals. You will find loans for CAs, doctors, lawyers, etc. You can acquire this loan online through your lender’s website or visit their firm personally. This loan can open opportunities for you to grow your business to exponential heights.
With the funds contributed by a professional loan, you may invest in your employees, the office architecture, your company’s business strategies, and so much more. You can increase the quality of the equipment you use and upgrade your business. The possibilities are endless. All you must do is tap into a professional loan and provide your dream with the fuel it needs.
How Can Architects Fund a Design Project Through a Professional Loan
Here’s how you can effectively fund your dream design project with the help of a professional loan for architects.
- Get an Efficient Software
You manage the smooth functions of a designing team with the help of efficient 3D modeling software. Through this, you can handle bigger teams with heavy workloads without feeling scattered and disorganized. You can opt for a BIM (Building Information Modelling) software like Revit. Your professional loan will help you afford such efficient software in order to make your project a roaring success.
- Grow Your Online Presence
If a successful designing firm is your dream, expanding the borders could work splendidly for you. You can broaden your horizons by increasing your online presence. This will help your firm grow across your city, country, and through the whole world. You could use your professional loan to build an attractive website, a solid portfolio, and an impressive social media presence. In this way, you will be able to attract clients all over the world.
- Increase Your Human Resources
A big business with big projects requires a big team. It is essential for you to grow your team by adding qualified, talented, and outstanding people to it. Through a professional loan for architects, you can ensure that your amazing team can get their rightful pay and favourable work conditions. You can sufficiently fund the project and keep your employees rewarded and happy simultaneously.
- Create a Project Managers Army
One successful designing firm is responsible for multiple designing projects at the same time. As the showrunner, you might not have the time and energy to have your feet in all pies. Hence, building an army of strong, reliable, efficient, and loyal project managers can help you a lot. Every minute and mammoth project can be handled by them, right from the funds to the blue-print papers.
Eligibility Criteria of a Professional Loan
Listed below are the pointers that you must tick-mark in order to be eligible for a professional loan. Please make sure to confirm the eligibility criteria listed by your subjective lender since these parameters could differ.
- You must be a resident of India
- Your age should be between 25 years and 65 years
- You should be a doctor, chartered accountant, non-professional entity, or professional entity
- You basic income should be ₹1 Lakh per year
- The firm must hold at least 2 consecutive years of a profit-positive status
Beyond the eligibility criteria, you also need to have a collection of mandatory documentation available as and when required by your lender. Hence, given below is a long list of documents that you should keep handy.
- Identity proof
- Address proof
- Bank account statements from the past 6 months
- PAN Card
- Income Tax Return documents
- Computation of income
- Balance sheet
- Profit and Loss Account
- Trade licence
- Establishment Certificate
- Sales and tax certificate
- Sole Proprietary Declaration
- Certified copy of Partnership Deed
- Director-certified copy of Memorandum and Articles of Association and Board Resolution
To Conclude…
As an architect and businessperson, working tirelessly to make your dream of running your own design firm is commendable. It takes a lot of courage and perseverance to stride towards a goal this big. However, you could run into a few obstacles on the way. You might find yourself at a halt due to financial hurdles. Don’t worry, though. A professional loan for architects can clear the path for you.
With the help of a professional loan, you can fund your design projects and the business as a whole in many ways. You can build a team of efficient, professional, and loyal employees. You can strengthen your management. You can introduce better technological solutions to business operations. You can invest in marketing your brand across the globe. You can revolutionize the profits and scope of your company. Hence, don’t lose hope and get that professional loan. After that, the only way is upwards.