Business Loan – Secured – Unsecured | Up to Rs. 50 Lack..
Overview
Just in Simple Words, Business Loan helps to you for Start-up a New Business Or Expanding Current / Running Business Or Stabilize in Good Or Critical situation in all competitive market.
There are a number of various types of Business Loans in India likes Working Capital, Term Loan, Start-Up Loan, Overdraft Facility, Machinery / Equipment Loan etc.. Also Banks/NBFC offers You Business Loan with Secured or Un-Secured options. Main Advantages are Interest Rate is lower for secured loans compared to unsecured loans, So this is a beneficial for Business Owner.
Business Loan is depends on Company’s Financials likes Profits, Sales Turnover, Cash flow etc.. The Lender will want to make sure that your Business is capable of repaying the loans.
Business Loan Interest Rate
Bank / NBFC | Interest Rate | Processing Fees | |
HDFC | 10.00%* onwards | Up to 2.00% of Loan Amt* | |
Kotak Bank | 16.00%* onwards | 2.00% of Loan Amt* | |
IDFC First | 19.00%* onwards | Up to 2%* of the loan amount | |
ICICI | 17.00%* onwards | 2.00% of Loan Amt* | |
Axis | 14.65%* onwards | Up to 2%* of the loan amount |
Types of Business Loan
- Working Capital means those liquid funds, as in cash or deposit in bank which is require for enhancing business cash flow, adding inventory or manage day to day expenses of Business . It is calculated by subtracting Current Liabilities from Current Assets.
- A Term Loan is a Loan from a Banks/NBFCs for a particular amount which repaid in specified period of Loan. It is usually as a Short Term or Long Term period.
- Equipment / Machinery Loan is a Funding by Banks/NBFCs for purchasing or Upgrading an Equipment / Machinery for your business requirement as per needs.
- Overdraft is a Credit Facility by Banks / NBFCs to Customer for withdraw money as per requirements and repay in particular interest rate as per terms.
- CGTMSE – Credit Guarantee Fund Trust for Micro and Small Enterprises is jointly set up by Govt Of India, Ministry of MSME and SIDBI to catalyze the flow of Institutional credit to MSEs.
- Credit Facility up to Rs. 2 Crores.*
- The Prime Minister Employment Generation Programme (PMEGP) is a credit-linked subsidy programme launched by the Govt Of India.
- A subsidy amount up to 15-35% of the project cost.
Special Features & Benefits
- Working Capital
- New Business Start up
- Business Expansion & Upgradation
- Buying New Equipment, Software & Machinery
- Purchasing Raw Materials
- Paying Salaries / Hiring New Staffs
- Inventory Purchase
- Improve Business Infrastructure
- Based on Customer’s Profile, Incomes & Case to Case by Banks/NBFCs
- Loan Amount at the discretion of the Bank / NBFCs
- Required in Secured Loan
- Not Required in Un-Secured Loan
- May vary as per the lender
- Depends on Banks/NBFCs Various Offers or Min Fees as per Profiles.
- 2% to 5% of the outstanding loan amount*
Eligibility
- 21 to 65 years
- Indian Resident
- Self Employed Individuals
- SE-Professionals
- Proprietorship
- Partnership
- LLP
- Pvt. Ltd
- Public Ltd & Others Working in the business of Trading, Manufacturing or Services.
- Min 1 Year & above
- May vary as per the lender
- 650 and above
Documents Require
- Pan Card
- Aadhar Card
- Driving License
- Passport
-> Self Employed / Professionals
- Last 3 Years ITR with Balance Sheet & Profit Loss A/c (CA Certified)
- Form 26 AS (Latest)
- Income Receipts
- TDS Certificate
-> Self Employed / Professionals
- Business Profile
- Any Valid Govt Registration Proof
- Current A/c. Statement
- Degree Certificate (For Professionals)
- Savings Bank A/c. Statements
- Current Bank A/c. Statements
- Loan A/c. Statements (If Any Cont.)