Business Loan for Traders

Traders play a vital role in maintaining the flow of goods in the supply chain, ensuring timely delivery to customers. As a key part of the Indian economy, they often require funds to support daily operations. Today, many lenders offer business loans specifically designed for traders, helping them easily access funds to manage and grow their businesses.

Some of the characteristics and advantages of business loans for traders are:

• Collateral-free

Traders can apply for business loans without pledging collateral, which reduces paperwork and allows faster fund access. Since these are unsecured loans, the interest rates may be slightly higher.

• Flexible Tenure

Repay your business loan comfortably over up to 36 months, with some lenders offering tenures as long as 96 months.

• Quick and Hassle-free Process

You can apply for a business loan online on Bajaj Markets to quickly access funds whenever your business needs them.

• Minimal Documentation

These loans require very few basic documents during the application. Typically, you will just need to provide your personal and business details, along with identity and income proofs, keeping the application process quick and simple.

• Quick Approval and Disbursal

After verifying your documents, lenders typically credit the loan amount to your account within three working days. This ensures that you receive funds without any delays.

• Minimal to Zero Prepayment Charges

If you wish to repay your loan early, many lenders allow foreclosure at minimal or no additional charges. Always review the lender’s prepayment policy before submitting your application.

Explore interest rates, fees, and features from partner banks and NBFCs onBajaj Markets. Compare multiple options and choose the one that best meets your business requirements.

To qualify for a business loan for traders on Bajaj Markets, you should meet certain conditions related to your business experience, income, and credit profile.

• You must be an Indian citizen

• You must have a credit score of 700 or above

• Your age must be at least 21 years at the time of application

• You should be self-employed, either professional or non-professional

• Your business should have been operational for at least 1 to 3 years .The business must be registered as a partnership, LLP, or private limited company

• The annual turnover of the business should be at least ₹1 Lakh

When applying for a business loan for traders, keep these documents ready to ensure a smooth and quick application process:

The lender might also ask for other business-related documents like a partnership deed, Memorandum of Association (MoA), or a board resolution.

Applying for a business loan for traders on Bajaj Markets is quick and simple. Here is what you need to do:

• Step 1: Click the ‘Apply For Loan’ button on this page to start your application

• Step 2: On the next page, select ‘Business Owner’ from the dropdown

• Step 3: Enter your mobile number for OTP verification and your pincode

• Step 4: Click on ‘CHECK YOUR OFFER’ to view loan offers available from partner lenders

• Step 5: Choose the offer that fits your needs, provide your business details, upload documents for verification, and proceed with your loan application

• Step 6: Once your documents are verified and your loan is approved, the amount will be credited to your account within 3 working days

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.