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Get instant startup funding of up to ₹80 Lakhs for your business needs on Bajaj Markets.
Have you always dreamed of starting your own business but were held back due to lack of funds? Well, there is no better time than now. A business loan for startups is a specialised credit facility designed for new businesses and budding entrepreneurs to cover initial overheads, inventory, or equipment costs. Leading lenders offer these loans to startups without collateral. These are also known as unsecured loans, which means you do not need to pledge any assets like machinery, gold, or property to get approved.
Access to a collateral-free loan opens up immense possibilities for startup businesses. The loan allows you to set up and grow your business easily without the hassle of putting your assets at stake. On platforms like Bajaj Markets, you can explore various financing options tailored for early-stage companies.
Startup business loans offer flexible repayment terms and loan tenures suited to new business owners.
Startups get fast access to capital from most lenders to unlock growth and opportunities.
New ventures can safeguard high-value assets as these loans are available without collateral.
The documents required to apply for small business startup loans are minimal.
| Available Offerings | Starting Interest Rate (p.a.) | Max. Loan Amount | Processing Fee |
|---|---|---|---|
22.00% |
₹10 Lakhs |
3% to 4% of the loan amount + GST |
|
29.50% |
₹2 Lakhs |
Up to 2% |
|
14.00% |
₹80 Lakhs |
Up to 4.72% of the loan amount (Inclusive of applicable taxes) |
|
22.00% |
₹10 Lakhs |
Upto 4.72% (Inclusive of applicable taxes) |
|
18% (reducing) |
₹50 Lakhs |
Up to 2.5% of the loan amount |
|
22.00% |
₹30 Lakhs |
Up to 3% of the loan amount + GST |
|
18.00% |
₹30 Lakhs |
3% to 4.25% |
|
15.5% |
₹75 Lakhs |
Up to 2% + GST |
|
19.20% |
₹35 Lakhs |
Up to 3% of the loan amount + GST |
|
20.50% |
₹35 Lakhs |
1% - 6% |
|
16% |
₹50 Lakhs |
Up to 3% of the loan amount |
Disclaimer: The rates mentioned above are subject to constant change. You must always check with the lender before applying. The final interest rate applicable to you will also depend on factors such as your repayment tenure, age, monthly income, and CIBIL score.
To apply for instant business loans, you must meet the following eligibility criteria:
Nationality: You must be an Indian citizen
Work Status: You must be a self-employed individual
Age: Your age must be between 21 to 60 years
CIBIL Score: You must have a CIBIL score of at least 700
Business Vintage: The business must have been operational for at least one year.
Business Type: Partnership, LLP or Private Limited company
Turnover: Minimum ₹2 Lakhs
Note: The business must not be in the blacklisted or excluded category
You can check your startup business loan eligibility with the help of the Business Loan Eligibility Calculator. Keep in mind that the above eligibility criteria may vary depending on the lender you apply with.
Check the lender’s website before applying for startup business funding to ensure that you meet all the criteria.
Here are the documents that you need to apply for a startup business loan:
| Category | Required Documents |
|---|---|
Personal Records |
Passport-size photographs |
Identity Proof |
|
Address Proof |
|
Signature Proof |
|
Financial Records |
|
Legal/Business Proof |
|
Most lenders allow you to apply for an instant business loan for a startup using online and offline modes. To apply for a loan for a startup business, follow the steps given below:
Step 1: Click here to start your loan application
Step 2: Fill in your basic personal and business information in the online form
Step 3: Provide the desired loan amount and choose your repayment tenure
Step 4: Submit the completed form for verification
Step 5: After approval, the funds get transferred into your account
The Government of India has launched several initiatives to foster entrepreneurship and provide financial stability to new ventures. These schemes offer various benefits, from collateral-free credit to early-stage funding, helping entrepreneurs scale their operations.
Startup India Scheme: The Startup India Scheme is a flagship initiative designed to build a strong ecosystem for innovation. It offers benefits such as tax exemptions for three years, self-certification compliances, and a faster pathway for patent registrations.
Mudra Loan (PMMY): Under the Pradhan Mantri Mudra Yojana, startups can access loans up to ₹10 Lakhs. It is categorised into Shishu (up to ₹50,000), Kishor (up to ₹5 Lakhs), and Tarun (up to ₹10 Lakhs) to meet different business lifecycle needs.
CGTMSE Schemes: The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) provides collateral-free credit to MSMEs. It encourages lenders to provide a Business Loan for startups by providing a government-backed guarantee cover in case of default.
SISFS (Startup India Seed Fund Scheme): The SISFS provides financial assistance to startups for proof of concept, prototype development, product trials, and market entry. This is crucial for early-stage startups that lack the initial capital to validate their business idea.
Atal Innovation Mission (AIM): AIM is an initiative to promote a culture of innovation and entrepreneurship across the country. It supports the establishment of greenfield incubation centers and provides scaling support to existing startups through specialised programs.
Yes, entrepreneurs can secure a business loan for startups to fund initial operations, inventory, or equipment. Leading lenders and platforms like Bajaj Markets offer credit facilities specifically for new ventures. Eligibility typically depends on your business plan, credit profile, and clinical financial planning.
Absolutely. Many financial institutions provide unsecured business loans that do not require pledging assets like property or gold. Additionally, government initiatives like the CGTMSE schemes offer credit guarantees to lenders, making it easier for new businesses to access high-value funding without providing personal collateral.
The ₹20 Lakhs grant is provided under the Startup India Seed Fund Scheme (SISFS). It is designed for early-stage startups to help with proof of concept, prototype development, or product trials. Eligible DPIIT-recognised startups can apply to incubators to secure this debt-free financial assistance for innovation.
Startups can access various funding options to meet specific operational needs . Common types include unsecured business loans for flexible capital without collateral, working capital loans for daily expenses, and equipment financing for machinery. Additionally, government-backed Mudra loans and CGTMSE schemes offer subsidised credit for new entrepreneurs.
For a startup business loan, most lenders prefer a CIBIL score of 750 or above. While some NBFCs on Bajaj Markets may consider scores starting from 650 to 700, a higher score ensures lower interest rates and faster approval. A strong credit history demonstrates your reliability to lenders.
Yes, most lenders require a business plan when applying for a startup loan. It helps them assess the viability and objectives of your venture. To offer startup loans, lenders look at the business plan, objectives, and goals to assess the viability of your venture and their feasibility in making the funds available.
Lenders will also evaluate how and where you will use the funds, so mention that in your plan.
While securing a startup loan requires meeting specific criteria, the process is streamlined through platforms like Bajaj Markets. Success depends on a solid business plan, a good credit score, and choosing the right scheme. Unsecured options and government-backed CGTMSE schemes have significantly reduced the difficulty by removing collateral requirements.
A business loan for a startup primarily supports the capitalisation of a firm you want to launch. Getting a loan to launch a new business would help your operations by enabling you to get the needed equipment and machinery.
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