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A business loan is an unsecured loan that serves as a financial aid for businesses and enterprises to meet their requirements. Be it expanding your business to new locations, purchasing advanced machinery, hiring new staff or clearing all your debts, a Business Loan will surely serve the purpose. Nowadays, most of the banks and Non-Banking Financial companies offer business loans at competitive interest rates. If you are eligible and have required documents in place, you can avail the Business Loans and ensure its smooth operation.

Our Partners

Bajaj Finance Limited

Over the years, Bajaj Finance Limited has customized its loans to meet all your financial needs efficiently. And our 1 million+ happy customer base stands witness to it.

Lendingkart Finance Limited

Lendingkart Finance Limited is a reputed financial organization that specializes in providing business loans to small businesses, MSMEs and other public sector enterprises.

Why Choose Finserv MARKETS for Business Loan

Abundance of Choice

Finserv MARKETS helps you choose from a wide variety of Business Loan products. What’s more! You also get to compare various loan offers by the best of the lending partners. So, you are indeed spoilt for choice!

Fast Online Process

There's no tedious paperwork involved. Your application is approved within minutes and money gets disbursed in no time.

Trusted Companion

We are proud to deliver on our promise. Our reliable interface helps the lending partners reach out to people all across India and provides the best lending experience.

Features and Benefits of Business Loan

  • Loan amount

    You can get business loans up to Rs. 35 Lakhs to fulfill your requirements. Higher loan amounts ensure you can make the most of it and meet all your business needs.

  • Repayment tenure

    Since Business loans are unsecured in nature, you do not have any pledge any collateral/security against the loan. Just avail the amount you wish.

  • No Collateral/Security needed

    Since Business loans are unsecured in nature, you do not have any pledge any collateral/security against the loan. Just avail the amount you wish.

  • Need-based offerings

    Business Loan can be used for purchasing raw-materials, upgrading infrastructure, hiring staff etc.

  • Exciting offers

    Personalized pre-approved offers and value added services can make your experience of availing a Business Loan even more amazing.

Types of Business Loans

As per the business needs and requirements, there are various types of Business Loans online. Take a look:

  • Start-up Business Loan

As an aspiring entrepreneur, if you are looking to start your business venture and need financial assistance for it, you can always apply for a Start-up loan. You can also avail this loan; in case you wish to expand the operations of your start-up.

  • Business Loan for Women

With the aim of promoting financial independence among women, Business Loans for Women can help the female entrepreneurs become self-sufficient and enable the growth of their business. Most financial institutions offer Business Loans to women to fund their requirements.

  • Working Capital Loan

With a working capital loan, the self-employed individuals can manage the daily expenditures of the business. This includes managing steady cash-flow, purchase machinery, pay short-term debt. Availing this loan will help you take care of finances associated with day to day operations.

  • MSME Business Loan

MSME stands for Micro, Small, and Medium Enterprises. With the help of MSME loan, you can finance your business requirements like revamping your company’s infrastructure, purchase machinery or raw materials, or expanding your business operations in general.

  • Equipment Machinery Loan

An Equipment Machinery loan can help you with finances related to your business equipment. With this loan, you can purchase new machinery, upgrade the existing ones or even the faulty ones repaired.

How to Apply for Business Loan on Finserv MARKETS

Applying for a Business Loan online on Finserv MARKETS is now really simple. Just follow these steps:

  • Online Form Filling

    Fill in your personal and employment details.

  • Select your Lending Partner

    From the list of loan offers, select Business Loan from your prefered partner to move ahead in the journey.

  • Specify Loan Details

    Choose your preferred loan amount and repayment tenure.

  • Upload the Documents

    Upload the scanned copies of all the required documents.

  • Approval & Disbursal

    Submit your application, and post the approval and verification check, you will get money in your account.

Check out the business loan eligibility and complete list of documents required for business loan.

Business Loan Eligibility

To be eligible for Business Loan, you must fulfill the following criteria:

  • You must be a self-employed individual
  • Self-employed professionals include doctors, chartered accountants etc and self-employed non-professionals include traders, manufacturers.
  • You must be between 25-55 years of age
  • Business units such as partnerships, limited liability partnerships, private limited companies can apply for a Business Loan.
  • You must have a minimum business experience of 3 years in the current business and at least 5 years’ business experience on the whole.
  • The minimum Annual Income (ITR) must be Rs.1.5 Lakhs per annum.

 

Business Loan Fees & Interest Rates

 

Customized Interest Rates*

1.5-2% per month

Processing Fees

2-3%

Loan Tenure

Up to 60 months

Pre-closure Charges

4%

Eligibility Criteria

>Rs. 90,000 turnover for 3 months

Loan Amount

Rs. 50,000 to Rs.75 Lakhs

Installments

Flexible Monthly/Bi-weekly

 

**Pre-closures are allowed upon the full payment of the first EMI

Business Loan Documents

Here is a list of the documents one needs to provide while applying for a Business Loan.

  • PAN Card
  • Identity Proof:  Aadhaar Card/Passport/Driving license/Voter ID Card
  • Address Proof: Aadhaar Card/Passport/Driving license/Voter ID Card/Utility Bills
  • Bank statement of last 6 months
  • ITR form in addition with certified copies with details such as income computation, balance sheet, Profit and Loss statement for the last 2 years
  • Sole Proprietorship Declaration or authenticated copy of Partnership Deed
  • Certified copy of Memorandum and Articles of Association

Know about how to apply for aadhar card business loan

 

How to use Business Loan EMI calculator

The Business Loan EMI Calculator by Finserv MARKETS, is an online tool that provides you the exact amount that you need to pay as EMI by taking into account the following 3 factors:

  • Loan amount: This is the principal amount of loan that you wish to apply for.
  • Rate of interest: You can fill your desired rate of interest here.
  • Loan tenure: The next input is the loan duration. This is the tenure (year or months) in which you will pay back the borrowed amount.

Dos and Don'ts of Business loans

A business loan is a great way of growing your business venture and supporting your future endeavours. However, it is important to plan this path effectively as it can make or break your prospects.

Here are some factors that you must consider when getting a business loan:

Explore Every Option: Getting a business loan is a major decision and one that you take with a critical objective in mind. Before you make the final call and avail a business loan, explore other options like increasing sales production, adopting a low-cost mechanism, and more. Carefully consider all your options before finally getting a business loan as it can save you from commercial debt that you may not need.

Decide how you will use the loan: Create a plan focusing on the most effective ways for using the funds. You may directly put the money into funding the critical task or use it in portions. However, not planning well may lead you to using the funds on non-essential tasks. So, be very careful about how you plan to employ your funds.

Driven Value: The ultimate goal of getting a business loan must be the deriving value. It must bring meaningful growth to your business. So, consider this ultimate aspect before getting a business loan. 

 

Importance of CIBIL Score to Avail a Business Loan

Lenders always evaluate your CIBIL score before approving your loan application. Your Credit score determines your creditworthiness and repayment capacity. If you apply for a business loan with bad credit, it can be difficult to secure the financing you require. To avail business finance with ease, it is important to maintain a good credit score by paying off your bills and outstanding debts on-time. You must always check your CIBIL score before applying for a loan. This will give you a fair idea regarding whether your loan application will be accepted or not.

 

Get Business Loan instantly at Finserv MARKETS App

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Frequently Asked Questions on Business Loans

✔️For what purposes can I avail a business loan?

A Business Loan can be used for expanding current business operations, purchasing inventory, raw-materials, for working capital requirements etc.

✔️What security should I provide to avail a business loan?

A Business Loan is an unsecured loan product; hence you need not provide any security to avail it.

✔️What is the maximum age of availing business loan?

The maximum age of availing a Business Loan is usually 65 years.

✔️How long will it take for me to find out if I am eligible for a business loan?

With online facilities provided by most of the banks/NBFCs, you can find out your eligibility instantly.

✔️For how long I can repay the loan amount?

The repayment tenure usually ranges from 1-5 years.

✔️How much is the minimum and maximum loan amount I can get?

You can get a Business Loan from Rs. 5000 to Rs. 2 Crore, depending on the bank/NBFC, their policies.