Apply Business Loan For Self-Employed at Lower Interest Rates
Every business is different and so are its financial needs, and it can be quite challenging to fulfil these financial needs. A business loan is one of the best ways to add capital or bring in funds. Whether for business growth or expansion, working capital requirement, or simply to fund purchases, entrepreneurs can meet a variety of their business demands by opting for this loan.
An unsecured business loan for the self-employed can help professionals or business owners serve any short-term financial needs, labour capital requirements, and more. Furthermore, women entrepreneurs have an added advantage of discounted interest rates, which most banks or NBFCs offer as an incentive.
Our Partners
|
Minimum Interest Rate
|
Maximum Loan Amount
|
Maximum Loan Tenure
|
|
---|---|---|---|---|
Ambit Finvest |
20% p.a. |
₹50 Lakhs |
36 months |
|
AYE Finance |
29.50% p.a. |
₹2 Lakhs |
30 months |
|
Bajaj Finance Limited |
14% p.a. |
₹30 Lakhs |
96 months |
|
FlexiLoans |
18% p.a. |
₹50 Lakhs |
36 months |
|
IIFL Finance |
16.50% p.a. |
₹30 Lakhs |
48 months |
|
InCred |
24% p.a. |
₹3 Lakhs |
60 months |
|
Indifi |
22% p.a. |
₹30 Lakhs |
36 months |
|
KreditBee |
14% p.a. |
₹2 Lakhs |
12 months |
|
Lendingkart |
19.20% p.a. |
₹35 Lakhs |
36 months |
|
Protium |
20.5% p.a. |
₹35 Lakhs |
36 months |
|
Credit Saison |
22% p.a. |
₹10 Lakhs |
36 months |
|
U GRO Capital |
26% p.a. |
₹2 Lakhs |
12 months |
|
*Interest rates mentioned in the above table can vary from one lending partner to the other and are subject to change.
Business loans are unsecured loans i.e., need no security from the applicant. Banks and other lending institutions check the credit scores of the applicant and the business in order to facilitate the l Read Moreoan. Read Less
One of the key features of a business loan is that the repayment tenure offered by most lenders is flexible.
Business loans offer a fixed rate of interest that is applicable for the entire loan tenure. This rate of interest does not change during the loan tenure, despite of any change in economy, market condi Read Moretions, etc. Read Less
Business loans also have an option of floating rate of interest, also known as variable or adjustable rate of interest. The rate of interest varies i.e., ‘floats’ reflecting the market or economic cond Read Moreitions. Read Less
If you have all the documents and paperwork in place, business loans are usually processed quickly, and the amount is disbursed in no time.
Before you apply for a business loan, or any loan for that matter, it is always advisable to have the basic set of documents handy. This helps your loan application get approved faster and in a more hassle-free manner. Take a look at the basic documents that you must have handy before you apply for a business loan for self-employed:
KYC documents of the loan applicant – Aadhaar card, Passport, PAN card, Voter’s ID, Driving Licence, Utility bills, etc.
PAN card of the business
Address proof of the business
Establishment Certificate or company incorporation proof of business
Bank statement of last 1 year
Business or company’s Income Tax Returns of the past year
Filled-out unsecured business loans for self-employed application form
2 passport-sized photographs of the applicant
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.