The growth and sustainability of a business depend on the continuous inflow of funds. The funds might be required to expand the business or purchasing equipment. The funds can be borrowed in the form of a loan from banks and other financial institutions. Business Loans are typically unsecured in nature which means no collateral or security is required to borrow a loan. Business Loan is a debt provided to the company or the self-employed professionals or business owners that are to be repaid along with the principal amount. The rate of interest is usually pre-determined by the lending institutions. A Business Loan in India is offered at competitive interest rates, with a low processing fee, and without any security or collateral. Several leading banks and NBFCs including HDFC Bank, ICICI Bank, IDFC First, Citibank, Fullerton India, Tata Capital, and so forth are offering business loans.
Apply Now| Age |
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| Who can apply? |
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| Business Profitability | Business should be in the profitable state for at least 3 consecutive years. |
| Company Financials | Complete financials including Balance sheet and Profit & Loss statement for latest 2 years, Tax audit reports. |
| Credit Score | Good Credit Score (650 and above) |
| Type of Document | Salaried / Self employees |
| Identity Proof |
Any one of the following:
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| Address Proof |
Any one of the following:
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| Ownership Proof | Proof of ownership of residential or commercial property (including parental property) |
| Financials | Complete financials including Income Tax Return of latest 2 years, Balance Sheet, Profit and Loss Statement, Tax audit reports, and so forth. |
| Other Documents |
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| Business Loan Interest Rate | Competitive interest rate starting at 12.15% |
| Loan Amount |
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| Nature of Business Loan | Unsecured (No mortgage required) |
| Loan Tenure | Ranges from 24 months to 60 months |
| Processing Fee | Up to 2% of loan amount |