Business Loan is a short to medium term unsecured loan, which does not require any collateral/security for disbursal. They are generally disbursed in a few hours to a few days with minimal paper work at all. A key feature of Business loan is its flexible end-use. Thus, this unsecured loan can be used to meet a variety of needs ranging from infrastructure, expand operations, upgrade to the latest plant and machinery, maintain inventory, expansion purposes, manage cash flow, buy equipment/machinery, hire/train staff, purchase raw materials, upgrade inventory and much more . These customized loans can give your business the much-needed boost to help your enterprise scale new heights with enhanced competitiveness and profitability. Business loan is the primary unsecured type of funding, designed to meet the day-to-day business requirements of business owners or enterprises. Borrowers are not pressurized to submit any collateral or security to avail unsecured business loan.
Business Loan start with 13% (Reducing) Rate of Interest and its depend according to customer CIBIL, Business Setup, Stocks and Income proof basis.
Self Employed Professionals (SEP)
Allopathic doctors, chartered
accountants, company secretaries and architects who are practicing their
profession. Proof of qualification needs to be shared.
Self Employed Non-Professionals (SENP)
Traders and manufacturers,
retailers, proprietors, service providers, etc.
Partnerships, limited liability
partnership, private limited and closely held limited companies. Other
constitution types depending on their profile on a case to case basis.
Based on your meeting the business loan eligibility criteria, you can get the funds up to a limit of Rs.20 lakh.
Below mentioned are the eligibility criteria for business loan:
Below mentioned are the entities that can avail business loan:
Checklist of documents required for business loan: