A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. There are a number of different types of business loans, including bank loans, mezzanine financing, asset-based financing, invoice financing, microloans, business cash advances and cash flow loans.
Starting or expanding a business often means applying for and getting approved for a loan or a business line of credit. For years Delhi has been known for its culture of entrepreneurship and business. With the expansion of the city and the rise of new commercial hubs in the NCR region like Gurgaon and Noida, the appetite for business has expanded manifold.
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Capital is a vital component for the success of commerce today. Irrespective of whether a firm is in proprietorship or big organization, finance holds the key to its development, and managing finance is certainly not a child's play. Keeping all this in mind, several institutions have come up with business Loans to help budding and existing entrepreneurs.
Very frequently, every company has to face a make-or-break situation which calls for immediate investment to reap long term benefits. If one is not having the finances at that time, he might well opt for a business Loan which is designed specifically to fulfill urgent business requirements. These Loans not only help in expanding a business, but also play a vital role in modernizing and improving small as well as medium scale business.
5 To 50 Lakhs
12.75% To 17.50%
Lowest Rates of Interest In MarketShow Details
5 To 40 Lakhs
15.50% To 19%
Get Loan on GST Returns No Financial RequireShow Details
5 To 45 Lakhs
15% To 19%
OD Facilities with 12 Hr DisbursmentShow Details
5 To 75 Lakhs
17% To 20%
Loan Eligibility Can Be Done As Per Customer RequirementShow Details
5 To 40 Lakhs
17% To 19%
Special ROI 11% to 14% for Professionals Like Dr.Ca & EtcShow Details
5 To 75 Lakhs
15% To 19%
Flexible repayment methods FacilityShow Details
Upto 1 Crore
16% To 21%
Flexi tenure option available from 12 to 36 months.Show Details
Business loans can be availed by the self-employed, limited and private liability company, manufacturers and services providers. The banks have specific eligibility criteria that must be satisfied by the borrower. Loans are quickly approved without spending much time.
|Age(Min-Max)||21 To 65 Years||21 To 65 Years|
|Minimum Income||Net Profit > 250000/- or More||Min. 2,50,000/ p.a|
|Co-applicant||If Require||If Require|
|Loan Tenure||1 to 5 Years||1 to 5 Years|
|Maximum Loan Amount||Max. 50 Lakhs||Max. 50 Lakhs|
|Business Continuity||3 Year Business Continuity.||3 Year Business Continuity|
|Other||Last 3 years ITR||Last 3 years ITR|
List of documents required for Business Loan that must be submitted by the borrower in order to avail a business loan:
Business loans are short term loans which need to be repaid back within a shorter loan tenure of up to 5 years. Banks offer flexible repayment options starting from 1 to 5 years, depending on the Applicant’s profile. As they are short term Business loans, the borrowed money will have to be repaid back soon. Therefore it is always best to evaluate your repayment capacity before your application for the Business Loan. Business Loan EMI Calculator lets you calculate the EMI which you will have to pay every month if you take a loan of a particular amount and tenure at a specific interest rate.
There are various factors to consider while taking a Business Loan in order to assure the borrower gets the best possible deal. Factors such as:
Loan Amount: Rupees 5 Lakhs to 75 Lakh
Rate of Interest (APR)*: 12% to 20%
Repayment Tenor: Up to 5 Years
Processing Fees: Upto 3%
Illustration: Rs. 1 Lac loan on @12% with processing Fees for 60 Months comes to Rs. 1,33,466/- Equated Monthly Instalment shall be: Rs. 2,224/- only.
* APR - Annual Percentage Rate
Required document list for Business Loan:
Below are the important few criteria to be eligible for a Business Loan from Bank/NBFCs.
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