Coming up with an innovative idea and converting it into an enterprise is a work of limitless dedication, passion, and perseverance. If you are someone with an idea, looking to establish your own start-up venture, you are at the right place. To establish a start-up, you would require financial support to fund various needs like staffing, purchasing equipment, investing in technology upgrades etc. These are essential to ensure growth and competitiveness of your business.
Hence, to achieve your goals, we have compiled a guide to help you get a start-up loan.
Challenges faced while exploring start-up loan options
The harsh reality is that there are limited lending options for start-ups owing to the high risk associated. However, options like business loans can help you successfully fund your idea and convert your dream into reality. Also, there are many reasons why business loan can help for start-ups.
How to apply for a start-up loan?
You can apply for a start-up loan through a hassle-free online process with NBFCs. All you have to do it fill an online application mentioning your personal and employment details.
Step 1: Specify loan details:
Choose the loan amount and the repayment tenure that best suits your needs.
Step 2: Approval and disbursal:
Once your documents and details have been verified, your loan shall be approved without any inconvenience and you would receive the amount within 24 hours!
However, before you apply for a start-up loan ensure that you satisfy the eligibility criteria for business loan and have all the required documents available with you beforehand.
The basic eligibility criteria and mandatory documents required to get a start-up loan from a leading Non-Banking Financial Companies (NBFCs) are mentioned below:
Step 3: Business Loan Eligibility criteria:
- You must be an Indian citizen
- You must be self-employed
- You must be between 26-66 years of age
- You must have 3 years of business vintage
Step 4: Documents required for start-up business loan:
- Aadhar Card/Passport/Driving License.
- PAN Card.
- Additional documents may be required depending upon the kind of loan you select for yourself.
Today, Bajaj Finserv business loans are available in the market at highly competitive interest rates. Additional features of the various products available include unlimited withdrawals, no hidden charges, and flexible repayment options among many others. Finserv MARKETS don’t require a collateral or a guarantor. This, in turn, keeps the assets of the borrowers safe and allows them to shift their complete focus on the growth and expansion of their business. This gives them an edge over other financial institutions in the market.
So if you have a dream to achieve, work on your idea and take your business to greater heights. Do not hold yourself back due to lack of funds. Get a Bajaj Finserv Business Loan from Finserv MARKETS, today!
Read more about Government Schemes for Start Ups
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