Business Loan Apply Online
Business loans are provided to the Distributors, wholesalers, manufacturing units, Retailers, self-employed professionals, services, and non-professionals. It allows entrepreneurs to grow their unsecured business loan on a large scale with more profits. Under small business loan individuals can get loans up to Rs. 75 lakhs with the maximum flexible tenure of 60 months. It is offered by various banks, financial institutions, or NBFCs. It can be secured or unsecured loans.
Here is a complete guide on how to get a small business loan for your business and how you can apply online for a business loan.
Small business loan in India through various banks and financial institutions provide working capital and term loan such customized offer to fulfill your business requirements.
Unsecured Business Loan – The easiest funding option is a loan from the banks to run your business loan requirements with an unsecured business loan. Many digital lending companies offer unsecure business loans. – these loans given to SMEs collateral-free loans which are offered with flexible repayment options. disburse within an abbreviated period, to cover short-term needs.
Financial Help from Microfinance Providers or NBFCs- One of the other alternative ways of securing funds can be microfinance or NBFCs. So, if you need a loan for new business, and you are limited, and credit ratings not favored by the bank. This is right for you.
Documents required for small business loan
- 2 passport-sized photographs
- Proof of business stability.
- Aadhar card and Passport.
- Copy of PAN (Permanent Account Number) Card.
- Bank statements of last 6 months for proof of business vintage.
- KYC Documents
- Proof of ownership such as business premises, residence.
- Recent electricity bill of business premises.
- Cheque for processing fee.
- Complete documentation of property with ATS, Chain + MAP.
- Address proof required whether permanent or rented and Permanent address proof required, if rented.