APPLY FOR BUSINESS LOAN

  • 1 - Basic Details
  • 2 - Additional Details

  

BUSINESS LOAN FAQ's

  • What is Business loan?
    Business loan is a 1-3 year unsecured loan given by banks, NBFC’s (Non Banking Finance Companies) or P2P lending platforms without asking for any collateral, guarantor or hypothecation of any assets. Entities like proprietorship, partnership, private limited company or public limited company are eligible for this type of borrowing. The usage of a business loan is left to the discretion of the borrower and can be used for working capital purposes, meeting short term cash flow requirements, investments into plant and machinery etc.
  • Why should I take a business loan?
    Whether your business is at an initial stage or in the growth phase, additional finance can help you keep up the momentum.
  • Can I get a Business Loan without collateral?
    Yes, you can get a Business Loan without any collateral or security.
  • Can the credit limit for a business loan be increased?
    Yes, it is possible. This is subject to the eligibility criteria at the time of your request. You may submit a request letter to us, and if requested, fresh documents for the enhanced amount application.
  • What is the difference between Line of Credit and a Term Loan?
    Term Loan : Customer avails loan and repays in equated instalments. There is normally an option to prepay with surplus funds, but no withdrawal options. Repayment of interest and principal is done every month. Line of Credit : Customer avails loan and uses the same as a FIXED credit line with renewal option every year. There is an option to prepay with surplus funds as well as withdraw within the available limit. There is repayment of interest only, every month, applicable on the utilised amount.