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Business Loan for Startups

Get instant startup funding of up to ₹80 Lakhs for your business needs on Bajaj Markets.

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Minimum Interest Rate

14% p.a.
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Maximum Loan Tenure

96 months
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Maximum Loan Amount

₹80 Lakhs

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. Leading lenders offer startup business loans 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.

Features and Benefits of Business Loans for Startups

Flexibility

Startup business loans offer flexible repayment terms and loan tenures suited to new business owners.

Quick Availability

Startups get fast access to capital from most lenders to unlock growth and opportunities.

Unsecured Loan

New ventures can safeguard high-value assets as these loans are available without collateral.

Hassle-Free Documentation

The documents required to apply for small business startup loans are minimal. 

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Lenders

Minimum Interest Rate

Maximum Loan Amount

Maximum Loan Tenure

Bajaj Finance Limited Business Loan

14.00%

₹80 Lakhs

96 Months

L&T Finance Business Loan

15.50%

₹75 Lakhs

60 Months

IIFL Finance Business Loan

16.50%

₹30 Lakhs

48 Months

KreditBee Business Loan

18.00%

₹30 Lakhs

36 Months

FlexiLoans Business Loan

18% (reducing)

₹50 Lakhs

42 Months

Lendingkart Business Loan

19.20%

₹35 Lakhs

36 Months

Ambit Finvest Business Loan

20.00%

₹2 Lakhs

36 Months

Protium Business Loan

20.50%

₹35 Lakhs

36 Months

Aditya Birla Capital Business Loan

22.00%

₹10 Lakhs

36 Months

Credit Saison Business Loan

22.00%

₹10 Lakhs

36 Months

Indifi Business Loan

22.00%

₹30 Lakhs

36 Months

UGRO Capital Business Loan

24.00%

₹50 Lakhs

72 Months

InCred Business Loan

24.00%

₹3 Lakhs

60 Months

AYE Finance Business Loan

29.50%

₹2 Lakhs

30 Months

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.

Eligibility Criteria of a Business Loan for Startups

To apply for startup business loans, you must meet the following eligibility criteria:

  • You must be an Indian citizen

  • You must be a self-employed individual

  • Your age must be between 21 to 60 years

  • You must have a CIBIL score of at least 700

  • The business must have been operational for at least one year.

  • The business must meet the minimum annual income terms 

  • 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. 

Documents Required for a Startup Business Loan

Here are the documents that you need to apply for a startup business loan:

  • 2 passport-size photographs

  • Proof of Identity: Aadhaar card/ Driving licence/ PAN card/ Passport/ Voters ID

  • Address proof:  Aadhaar card/ Passport/ Utility bills/ Lease Agreement

  • Signature Proof: PAN Card/ Passport/ Bank verified signature

  • Bank statement for the last 6 months

  • ITR form and certified copies with income computation, balance sheet, and Profit and Loss (P&L) statement for the previous 2 years

  • Sole proprietorship declaration or an authenticated copy of the partnership deed (as applicable)

  • Certified copy of Memorandum and Articles of Association

How to Apply for a Startup Business Loan

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: Select the ‘Check Eligibility’ button on this page

  • 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

Things to Consider When Applying for a Startup Loan

If you are seeking loans for your startup, you need to consider the following points:

  • Provide a precise estimation of the available working capital

  • Create a clear, thorough, and workable business plan

  • Your business plan should be able to explain where you intend to spend the funds

  • Include a summary of the company's aims and objectives

  • Include projected profits and a growth plan for your business

Before applying under any scheme or with any lender, carefully assess the terms and conditions of the loan. This will enable you to understand which is the best deal and ensure the growth of your venture. Visit the Bajaj Markets website to compare small business loans for startups and apply with ease.

All terms and conditions are subject to the policies of our partner lenders, including pre-approved offers, loan processing times, and other applicable terms.

FAQs on Business Loans for Startups

What are the other fees and charges associated with a business loan for startups?

Apart from the interest rates, business loans for startups also have other charges such as processing fees, bounced EMI fees, prepayment or foreclosure fees, and more. You can check the list of applicable charges on the lender’s website.

You should check the lender's website to know your eligibility. Some of the generally accepted criteria for startup loans include being an Indian citizen between 21 and 60 years old. You must have a CIBIL score of at least 700. Also, your company must have a vintage of at least two years, and it should meet the minimum revenue requirements.

The best way to get a business startup loan is by applying at the National Small Industries Corporation, or NSIC. Alternatively, you can check with the lenders to assess the small business loan offers available. 

Yes, there are numerous government startup loans for new business, such as the National Bank for Agriculture and Rural Development (NABARD), National Small Industries Corporation Subsidy, Credit Link Capital Subsidy Scheme, Stand Up India Scheme, and Mudra Loan Scheme, among others.

Your access to startup loans depends on the company's viability and performance. This is because the performance and viability of the loan are key factors that lenders assess. However, many lenders offer easy and quick access to funds.

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.

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. 

Bajaj Markets offers business loans up to ₹80 Lakhs.  This loan is ideal for new or expanding companies and independent contractors requiring equipment improvements. It fulfils various startup business loan requirements and serves diverse businesses. This includes traders, physicians, and other professionals. 

You may use it to finance merchandise for your retail store or new machinery for your manufacturing facility.

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