Apply for Business Loan










    Why process your Business Loan with us ?
    Get your funds when you need them.
    Getting funds in time is of primary importance: With years of experience in the loan industry, we have an in-depth understanding of the processing norms. Give us your trust and we will ensure that your Business loan is delivered within the fastest turnaround time.
    Business Loans Customized as per your requirement.
    Save precious time spent checking various offers, let our advisors understand your needs, and give you the best solution. With the best rate of interest, minimal charges receive customised loan offers and ensure you get the Best Deal.
    Get a Doorstep delivery of your Business loan.
    We would like to change all preconceived notions about sales. Oh yes! We are completely transparent at all stages making you aware if there are glitches updating all information and covering the gaps. Unlike other portals, we will be always in touch till your requirement is fulfilled.
    Business Loan Overview
    The survival & growth of small scale enterprises/industry are essential to a developing economy. The small scale industry that flourishes, offers employment & livelihood to multitudes from all strata of society.
    Availability of Capital is essential for the smooth running of any business enterprise: the requirement for funds was traditionally fulfilled by borrowing from family/friend or a money lender who charged exorbitant amounts as interest. With the emergence of banks &NBFC‘s funding is now readily available for business expansion & growth. Unsecured loans without any collateral are offered to small & medium business men to fulfil their financial requirements.
    Features
    Eligibility Criteria
    Benefits
    Fees and Charges
    Required Documents
    Features for a Business Loan
    A Business loan is unsecured funding issued to self employed persons without any guarantee, solely for the purpose of meeting expenses for running their establishment and related Business needs.
    Who is eligible to apply for a Business Loan?
    All Indian citizens over the age of 25 years having a registered business are eligible to apply: the maximum age for repayment is of the loan is 70 years. The business vintage must be 5 years or more to be eligible for a loan with a profitable trend.
    What is the amount issued as a Business loan?
    Business loans are issued from ₹ 1 lakhs onwards up to ₹ 10 Crore depending on the requirement, turnover and volume of the business. The quantum of business loan depends on the valuation of the business, annual profits of the business, and the industry within which the business operates.
    What is the tenure applied for a Business loan?
    As a Business loan is an unsecured short term loan the repayment tenure for a Business loan is from 12 months to 36 months: for self employed professionals tenure of 48 months can be applied. The tenure is fixed as per the Loan amount and the repayment ability of the applicant.
    What can you use your Business loan for?
    A Business Loan is issued by Banks and NBFC’s specifically for the purpose of Business expenses and expansion: Loans may be applied towards;
    The daily capital expenses required for running of the unit: funding the daily running of the business is necessary for the smooth management of the business. Funds via business loan can be used for managing daily business expenses.
    For funding of new projects: all establishments need to innovate, diversify and expand in order to survive and grow. A Business loan is readily available to invest and enable the new projects in order to grow.
    A Business loan is available for Purchase of New machinery and to upgrade the existing manufacturing: as maintenance of existing infrastructure is essential for production units. With purchase of latest equipment to keep pace with new trends
    To invest in an ancillary unit for your expanding Business may, as when additional work opportunities come it will be necessary to add additional working space. Costs for the same can be funded easily via a Business loan.
    Approved Segments for a Business Loan
    Self employed segments where the business profile and portfolio are positive are the preferred sourcing criteria which include:
    Self-employed businessmen
    Small and medium size enterprises functioning as proprietorship firms or Limited or private limited firm: engaged in manufacturing of goods, distribution of raw materials, and affiliate industries.
    Service Providers
    The growth in the services industry has been unprecedented Professional Services that are offered Loans for their business under this category are IT/ITES, Hotels and Restaurants, Hospitals and Clinics, Education, Automobiles, Tours & Travels.
    Professionals
    Self employed professionals such as Doctors, Chartered accountants, I T professionals or Interior decorators who work individually or have companies or firms.
    Wholesalers Traders and Retailers
    Wholesalers are also stockists who ware house and distribute goods to traders and retailers. Goods are further sold in the in the open market, funds as a business loan to are forwarded to such individuals and companies to maintain the chain.
    FAQ’S
  • Who can apply for a Business Loan?
  • All registered Business owners meeting the eligibility criteria required by the Banks/NBFC’s are eligible to apply for a Business Loan.

  • What is the amount that can be issued as a Business Loan?
  • Business Loans from ₹ 1 lakhs onwards are offered to eligible applicants: but considering the minimum turnover required a minimum loan of ₹ 10 lakhs is workable.

  • What is the time taken to receive to receive funds via a Business Loan?
  • The time taken to process a Business loan and receive the amount is a 6 to 8 working days.

  • Will all the Directors in the company have to be a part of the Business Loan?
  • All the Owners and Directors will have to give their documents and become part of the Loan.

  • Are all types Businesses eligible for a Personal Loan?
  • The type of industry will have to be approved by the financer for a loan: funds will not be forwarded to a company considered as a negative profile.

  • Is the CIBIL SCORE important for Business Loan?
  • The CIBIL score & history will be considered and should be above the required benchmark for a Business Loan.

  • Will there be a Physical verification of the business conducted prior to approval of the Business Loan?
  • The officers of the Bank/NBFC will conduct a verification of the Business premises, manufacturing unit, and confirm on ground details when processing the Business Loan.

  • Can an applicant pre close a Business loan before the completion of the tenure?
  • Charges will be applicable as per the policy of the Lender if the borrower wishes to pre pay the Loan amount taken.

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