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Unlock Your Business Potential with Flexible Financing

Strategic financing solutions tailored for growing businesses.

Overview

An unsecured credit that can assist you in meeting the immediate financial needs of your expanding company is a business loan. To raise the money needed to grow your current company, increase production, go online, acquire inventory, purchase equipment, and much more, you can apply for a business loan.

Loans

Business Loan – Overdraft (OD)

Business Loan – Term Loan

Professional Business Loan

Machinery Loan

Features

  • Easy to Apply: You may apply online to have your business loan approved in a few simple steps.
  • No Collateral Needed: No collateral or asset is needed as security.
  • Flexible repayment: You can choose a term loan, in which you must make fixed monthly payments for the duration of the loan, or a flexible OD, in which you pay interest on the amount you borrowed.
  • Flexible Loan Tenure: select a term that works for your finances and pay it back whenever it is convenient for you.
  • Minimal Documentation: minimally documented company finance
  • A variety of ways for determining eligibility, such as certificate-based funding (only for professionals) or loan eligibility work-out using financial papers and banking average methods
  • Fast Approval and Fast Disbursement: grant business loan applications with prompt approval. receive the funds in your bank account as soon as possible. We guarantee a prompt disbursement procedure.

Eligibility Criteria

  • Must have a Business with office space
  • Business License: Business has valid licence proof
  • Age: age should be at least 21 years at the time of applying for the business loan and not more than 65 years at the time of loan maturity
  • Credit Score : Your credit score should be good
  • Business should be profitable
  • Business account: Must have a bank account in the name of Firm maintaining average bank balance
  • Experience :Minimum business vintage 3 years ,
  • Cash Flow: Lenders often evaluate your business's cash flow to determine your ability to repay the loan.
  • Nationality: Indian citizens
  • Eligible Entities: Individuals, MSMEs, Sole Proprietorships, Partnership Firms, Public and Private Limited Companies, Limited Liability Partnerships, retailers, traders, manufacturers, and other non-farm income-generating business entities engaged only in the services, trading, and manufacturing sectors
  • Business Type: Most lenders provide loans to various types of businesses, including sole proprietorships, partnerships, limited liability companies (LLCs), corporations, and more.

Documents Required

Self-Employed Non-Professionals

  • ID and Address Proof of the Applicants
  • PAN of the Applicants
  • ITR and Financial Statements for the Last 3 Years
  • Current Bank Account Statement of the Firm for the Last 12 Months
  • Residence Address Proof
  • Business Address Proof
  • Sanction Letter and Repayment Schedule for Existing Loans
  • GST Registration Certificate and GST Returns for the Latest 2 Years
  • Udyam Registration Certificate
  • Rent Agreement Copy for Factory and Residence (if the property is rented)

  • Proof of Business Continuity for 3 Years
  • For Pvt Ltd Companies:
    • Company PAN Card
    • Certificate of Incorporation
    • MOA (Memorandum of Association)
    • AOA (Articles of Association)
    • List of Directors
    • Shareholding Pattern
  • For Partnership Companies:
    • Partnership Deed
    • Company PAN Card

Self-Employed Professional

  • ID and Address Proof
  • PAN
  • Bank Account Statement for the Last 12 Months

  • Sanction Letter and Repayment Schedule for Existing Loans
  • Udhayam Registration Certificate
  • Proof of Qualification
  • Registration Certificate

Fees & Charges

Other Fees
  • Processing Fee
  • Documentation Charges
  • Penal Charges
  • EMI / Cheque Bounce Charges
  • Foreclosure Charges
  • Insurance

Frequently Asked Questions

An Unsecured Business Loan allows businesses to borrow funds without needing to pledge assets as collateral, relying instead on the borrower's creditworthiness and financial history

Business loan interest rates in India typically range from 12% to 30% for unsecured loans, depending on factors like loan amount, credit score, and collateral.

The maximum term for a business loan can vary, but generally, you can expect to find tenures ranging from up to 5 years to 7 years for unsecured loans

An unsecured overdraft (OD) offers flexible, short-term access to funds with interest charged only on the amount used, while a term loan provides a fixed sum for a longer period with a structured repayment schedule

ODs are like a revolving credit line, allowing you to withdraw funds up to a pre-approved limit as needed, without needing to reapply for new credit. Interest is charged only on the amount actually drawn down, not the entire limit.

You receive a specific amount of money upfront, which you then repay in regular installments over a set period. Interest is calculated on the entire loan amount, not just the amount used, and is typically charged monthly.

To be eligible for an Unsecured Business Loan, your business should be in operation for at least 2-3 years, have a minimum annual turnover, and you should be between 21-65 years old with good CIBIL score

The CIBIL Score required for personal loan varies depending on the lender and your profile. Typically, the higher your CIBIL score, the better. However, the minimum CIBIL score for quick unsecured personal loan approval is 700.

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