Unsecured Business Loan

If you are a self-employed individual, whether a professional or non-professional like a trader, manufacturer, or service provider, securing an online business loan in India is easily attainable. Additionally, entities such as LLPs, partnership firms, and private limited companies can apply for small business loans.

Yes! An instant business loan provides the flexibility to utilise the funds for various business needs such as inventory acquisition, bill payments, staffing, or business expansion. However, it is crucial to exercise prudence and allocate the funds solely for business-related expenses to prevent unwarranted debt.

Yes! People with poor credit history can also apply for a loan but it may incur high interest rates and fees compared to those with a better credit history.

If you are unable to repay the loan as per the deadline, please communicate the same to us. We may offer alternative options like payment plan, loan extension, or refinancing. It's important to note that non-repayment may impact your CIBIL credit score, incur additional charges, and could lead to legal action.

No. Part-payment is not allowed.

Yes, it does have an impact on the borrower’s credit score. Your credit score will be improved if you pay your EMIs on time. Paying your EMIs on time will make you a low-risk borrower and increase your borrowing capacity.

Yes. It is possible to increase the credit limit.

To qualify for a business loan, you need to meet the following eligibility criteria:

• Your business entity should fall into one of the following categories: sole proprietorship, partnership firm, private limited company, closely held publicly listed company, or recognized and reliable societies and trusts.

• Your business must demonstrate a consistent earning position for at least three consecutive years.

• Submission of thorough and verifiable financial documents is mandatory. This includes balance sheets and profit and loss statements for the past two years, accompanied by the requisite tax audit reports.

Loan repayment can be conveniently managed through affordable EMIs, utilising various repayment channels such as ECS and NACH.