The benefits of an unsecured loan for educational institutions25 Nov 2019
The mission and vision of any educational institute in India are to give a quality of education to their children. Along with their regular academic studies, it is important to give extracurricular activities to the kids along with their studies. Extracurricular activities can be sports, science experiments or preparing them for the future. Also, an educational institution needs a proper infrastructure, campus, laboratories, furniture or transportation facilities.
To provide all the above-said facilities, sufficient capital is required. No individual starts their school/college with sufficient funds or fully equipped. Every individual who wants to start an educational institution requires financial support or loans to make it possible and KNAB Finance will help in lending short-term business loans for educational institutions.
How an educational institute utilize the loan?
For an educational institute, a small amount of loan benefits them in many ways. But if they get some good amount of loan then they can utilize it in many ways. Below they are explained:
Science should be learned from performing experiments and not just by reading books. To perform experiments, a well-equipped laboratory is a must. It can be a physics lab equipment, chemistry lab apparatus or biology lab instruments. The purchase cost of these instruments costs huge to any school/college and if they have any external source of income like business loans then it will benefit them a lot.
A well-furnished school/college gives a good impression on the parents who make a visit before admitting their kids. Having a well-furnished institute in the short-term is not possible as they will be having other expenses too to look after. However, a school loan/college loan/educational institute loan from FinTech companies like KNAB Finance helps them to have a fully furnished institute where a loan will be approved and disbursed within 72 hours*.
An educational institution with good infrastructure gives a positive opinion on both students as well as parents. The loan will also help them in extending a building or constructing new classrooms where they can accommodate more students which directly increases the admission of the institution. When the intake increases the revenue of the institute too increases which help them to repay the loan in time.
An unsecured school loan helps in developing the good campus of the school which contributes to providing value-based education. A good campus should include a well-equipped sports stadium along with a sports ground. Students should have extracurricular activities like sports along with their studies which helps them to grow physically and mentally.
A good school/college should have a good transportation facility for the students to make them safe and easy to commute between home and school/college. Short-term school loans help the institute in buying new/old transportation vehicles like a van, mini-bus or larger buses to pick &b drop the students.