If you fulfill the business loan eligibility criteria but have a poor CIBIL score, chances are that your loan might be rejected. Your personal or business CIBIL score plays an important part to assure your creditworthiness as a borrower to a prospective financial institution. It is an indication of your ability to repay debt on time without any delay as well as your financial management capabilities. You can improve your existing low credit score by being proactive and paying your existing debts, reducing credit card usage and refraining from applying for collateral free loans to several lenders at the same time.
Keeping the necessary documents required to process your loan application handy after you have confirmed your business loan eligibility criteria will work to your benefit. Make sure to sit down and assemble essential papers such as related to your business, bank and KYC so that you have them ready once you are asked to submit them. This will avoid missing an important paper as well as stress and frustration when hurrying to find things at the last minute. Incomplete loan applications are liable to be rejected while supplying the essential papers on time can ease your loan approval.
The final step to get your collateral free business loan approved is to sincerely fill the application form online. Ensure that the details asked for are correct to your knowledge and cross check to be sure. Take care that figures of yearly business turnover, PAN no, current debt among others are not incorrect. All the data entered by you is further verified against your credit report, which can reveal any glaring errors. This could be a deterrent to your loan approval, leading to a long delay or outright rejection. So sit down and fill all the fields in the form provided carefully and calmly.
It is easier to get collateral free loans approved once you follow the steps mentioned above judiciously. Business loan available on Finserv MARKETS offers you a high loan amount up to Rs. 30 Lakhs with the convenience of flexible repayments between 12 months to 5 years as per your comfort. Enjoy unlimited withdrawals as long as you don’t exhaust the loan limit, zero foreclosure charges and total transparency apart from no collateral requirements.
Once you fill your personal and employment details online, enter the loan duration and amount that you require. Post verification, your loan is approved in as less as 3 minutes and fund transfer made within 24 hours of loan approval!
Not only this you also have access to value based services including customised insurance plans, pre-approved offers, top-up loans etc when you apply for the Bajaj Finserv Business loan available on Finserv MARKETS. So dream big and grow your entrepreneurial enterprise to new heights with easy financing that meets your needs.
Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.