Interested in financial products
CreditMantri
Processing

Max Tenure

36 months

Best Rate

16%

Processing Fee

2%

View Details

Features

  • Collateral-free business loan
  • Amount size - Rs. 50,000 to Rs. 1 Crore
  • Repayment tenure – 1 to 36 months
  • Online application and processing in 3 working days
  • Minimal documentation
  • Flexible repayment options (Bi-weekly, Monthly)

Pricing

  • Interest rate – 16-27% per annum
  • Processing fees – 2% of the sanctioned amount

Documents Required

  • Bank Statements – Last 12 Months Current Bank Account Statements of the entity (till latest date) for all accounts/ OD accounts (PDF copies generated through Net banking or email from the bank)
  • Aadhar Card (Front & Back)
  • VAT/Service Tax Returns/GST (whichever applicable) for last 1 year of the entity
  • PAN of the entity and Date of Birth of the proprietor / partners / promoters (in case the application form is not filled)
  • Proof of activity** in case of proprietorship firms and copy of partnership deed in case of partnership firms
  • Documents required for specific applications
  • For clients from Food/Pharma/Chemical/Oil/petroleum industries, relevant statutory licenses might be required
  • Last two year’s detailed ITR computation or Balance Sheet with schedules required for cases, where turnover is more than 1 Cr. Or loan required is more than 10 Lacs.
  • Provisionals may be required deplender_offersending upon the merit of the case.
  • Any one of the following documents can be accepted as proof of activity for the proprietorship firms.
  • Registration certificate (in the case of a registered concern)
  • Certificate / license issued by the Municipal authorities under Shop & Establishment Act
  • Sales and income tax returns
  • GST/VAT certificate

Max Tenure

NA

Best Rate

1.08%

Processing Fee

2%

View Details

Features

  • Extremely fast and Simple process
  • Paperless process
  • Collateral free - 100% Unsecured Loans and thus no collateral required
  • No hidden charges

Pricing

  • 18% p.a. onwards (reducing interest rate basis)
  • Processing Fee: 2% of the sanctioned amount + GST

Documents Required

  • Income Proof: Latest 3 months bank statement via PDF upload / netbanking (for new to credit customer only)
  • ID Proof: PAN Card, Election Card, Passport, Driving License, Aadhar card, UID (Unique Identification Document) issued by Govt. of India
  • UID (Unique Identification Document) issued by Govt. of India
  • Any of the above address proof acceptable for a close relative staying with applicant (Spouse/ Parents/ Son/ Daughter) with relationship proof confirmed with applicant.

Max Tenure

36 months

Best Rate

18%

Processing Fee

2%

View Details

Features

  • Collateral free business loan
  • Fast and hassle-free process
  • No contact Business Loan

Pricing

  • Interest rate – 18% onwards reducing balance
  • Processing fees – Up to 2% of the sanctioned amount + GST

    Documents Required

    1. PAN Card of Promoter
    2. Aadhar Card of Promoter
    3. Residence proof
    4. Office Address proof < /li>
    5. 6 months Banking (all banking required from which EMI are getting paid) < /li>
    6. 1 year ITR (P&L and Balance Sheet) - Only if loan required is more than 3 lakhs

    Max Tenure

    3 yrs

    Best Rate

    18%

    Processing Fee

    3%

    View Details

    Features

    • Get upto 50 Lacs in under 24 hours
    • Minimum documentation and no collaterals
    • One application and multiple lenders which increases the chances of approval
    • Choice of loan tenure and flexible repayment modes. No hidden charges

    Pricing

    • Interest rate – 18%
    • Processing fees – 3% + GST

    Documents Required

    • Business registration proof - Vat/Cst/ labour license/ Business regst/ Tin/ Trade licence/ Current bank Account/GST certificate and company PAN card
    • Latest Banking - 6 month Bank statement
    • Current Residence Proof - Aadhar card /Voter card / Passport/e-bill any kind of government ID.

    Max Tenure

    24 months

    Best Rate

    18%

    Processing Fee

    1.50%

    View Details

    Features

    Pricing

    • Interest rate – 20-30%
    • Processing fees – 1.50%

    Documents Required

    • Last 12 months bank statement
    • KYC of applicant and co-applicant

    Max Tenure

    NA

    Best Rate

    22%

    Processing Fee

    2%

    View Details

    Features

    • Easy documentation - We work with minimum financial documents which also includes informal documents.
    • Transparent pricing - There are no hidden fees. We will always be upfront about our costs.
    • No guarantor Required - You do not have to depend on others to get a loan.
    • Service at your doorstep - Our staff connects with you at your business place or residence.
    • Multiple Channels - You can connect with us through our wide branch network, our field staff or through our centralized contact center.
    • Cluster Based Lending - We understand your business well. We have the experience of lending to 5 sectors and 100+ clusters.
    • How many days it will take to disburse the loan - Upto 5 working days within completion of online loan application

    Pricing

    • Interest Rate – 22% - 29.5%
    • Processing Fee – 2% - 2.5%

    Documents Required

    • Latest 6 months banking statement
    • Identity proof(PAN, Voter ID, Passport)
    • Address Proof ( Voter ID, Aadhar Card, Passport, Bank passbook copy with photo)
    • Ownership proof: Any one of the following ( E-Bill/WaterBill/Property document)

    Max Tenure

    09 to 60 Months

    Best Rate

    11.75%

    Processing Fee

    2%

    View Details

    Features

    • Both residence & office rented doable* (upto 5 lakhs)
    • No collateral required
    • Only 2 yr business vintage
    • Repayment tenure – 9 to 60 months
    • Special features
    • No ITR
    • Approval only on banking or GST
    • Immediate approval
    • Disbursal within 48 hours
    • No collateral required

    Pricing

    • Interest rate – 11.75% - 25.75%
    • Processing fee – 2% to 4%

    Documents Required

    • PAN Card (individual)
    • Aadhaar Card (Individual)
    • Business Proof & Business Vintage proof (eg: Udyam Adhaar/FDA License,Gumasta/Shops & Establishment, GST etc)
    • Minimum last 6-month CA/SA bank statement
    • Application flow
    • Customer enters basic information (Name & E-mail ID, PAN number, DOB)
    • System will fetch the CIBIL score
    • Enter business details (type, date of incorporation, income range)
    • Add banking details, upload min 6 months bank statement
    • Post bank verification- Loan eligibility is calculated
    • Customer can View loan offer and choose the plan
    • Enter personal details, business address and valid business proofs (Udyam Aadhaar, GST certificate, Trade license)
    • Complete KYC process – upload Selfie, business registration, business proof, PAN card
    • Accept the loan offer & set up auto-pay E-nach
    • Post E-nach success- sign the E-agreement generated
    • Post E-Agreement – Application is processed by OPS for disbursement
    • Post validations, disbursement is processed

    Max Tenure

    12 months

    Best Rate

    21%

    Processing Fee

    2%

    Max Tenure

    10 yrs

    Best Rate

    16%

    Processing Fee

    3%

    Max Tenure

    10 yrs

    Best Rate

    18%

    Processing Fee

    2%

    Max Tenure

    60 months

    Best Rate

    19%

    Processing Fee

    2%

    Max Tenure

    25 months

    Best Rate

    21.55%

    Processing Fee

    2.5%

    Max Tenure

    5 yrs

    Best Rate

    18.75%

    Processing Fee

    2.5%

    Max Tenure

    NULL

    Best Rate

    11%

    Processing Fee

    NULL

    Max Tenure

    NULL

    Best Rate

    11.30%

    Processing Fee

    NULL

    Max Tenure

    NULL

    Best Rate

    12.25%

    Processing Fee

    2%

    Max Tenure

    NULL

    Best Rate

    16.00%

    Processing Fee

    2%

    Max Tenure

    NULL

    Best Rate

    15.50%

    Processing Fee

    2.5%

    Max Tenure

    NULL

    Best Rate

    9.70%

    Processing Fee

    NULL

    Max Tenure

    2yrs

    Best Rate

    18%

    Processing Fee

    2 - 4%

    Max Tenure

    2 Yrs

    Best Rate

    26%

    Processing Fee

    2.0%

    Max Tenure

    36mns

    Best Rate

    16%

    Processing Fee

    2%

    Max Tenure

    2 yrs

    Best Rate

    18%

    Processing Fee

    2%

    Max Tenure

    2 yrs

    Best Rate

    18%

    Processing Fee

    2%

    Max Tenure

    3 yrs

    Best Rate

    19%

    Processing Fee

    2%

    Sorry! We couldn't find any offer matching this category.

    What is a Business Loan?

    A business loan is one type of a loan that is applied for by people who aim to establish, expand or buy equipment for their businesses. Entrepreneurs who look for capital to begin their businesses also apply for business loans. These loans are perfect for small businesses in India. There are two types of small business loans in india:

    • Secured Business Loans:
    • A secured business loan is when the individual provides collateral in the form of land, machinery, a house, etc, as security for the loan amount. This has the added benefit of a lower rate of interest.

    • Unsecured Business Loans:
    • An unsecured business loan is when the loan amount is given without any collateral. The interest rates for unsecured loans are generally higher as there is a risk factor involved for the lender.

    How to Apply for Business Loans on CreditMantri.com

    CreditMantri Youtube
    Let your entrepreneurial dreams soar high and get your company up and running by getting the best business loans through CreditMantri

    Features and benefits of a Business Loan

    • Good loan amounts
    • Business loan amounts can go up to Rs.5 crores or more based on the needs and requirements of the customer. The loan amount is generally given based on the size of the business and the amount needed for operations such as expansion, inventory, working capital and more.

    • Flexible tenures
    • Business loans have tenures that can extend up to 7 years based on the customer’s requirements.

    • Minimal documentation
    • Most business loans have a very simple loan process that requires minimal documentation from the customer. Some lenders offer doorstep services to collect the few documents that are required so make the process more convenient for the customer.

    • Speedy disbursal
    • Most lenders who provide business loans ensure that the loan amount is in your bank account in 3 working days or sooner. In some cases, it can take longer due to verification of documents and other formalities that are followed.

    Interest rates

    The interest rates for a business loan generally begin at just 12%. Most interest rates are fixed at the sole discretion of the lender and can vary based on credit scores, current performance of the business and other factors.

    Factors that affect interest rates for a small business loan in India

    • Credit score:
    • A credit score is a three-digit number that ranges from 300 to 900. It shows your creditworthiness to your lender. Lenders use your credit score to assess your reliability. If you have a good credit score, then the interest rates for your business loan will be much lower. A credit score of 750 and above are considered a good score by most lenders. So, if you have a low credit score, then your lender will consider you to be a risky customer and will increase the interest rate for the loan or reject your loan application. Always ensure that you check your credit score before applying for a business loan.

    • Credit history:
    • If you have a long credit history that is good, then the interest rates that you will receive from your lender for your business loan will be low. This is because your lender will view your past transactions with your past credit products to check your creditworthiness. If you have a positive and long credit history, the banks will consider you to be reliable and will lend to you at lower interest rates. If you have a bad credit history, the interest rates will be higher as you will be viewed as a risky customer.

    • Loan amount:
    • A large business loan amount entails a lower interest rate than a small business loan amount. So, it is better to take a large loan for your business rather than a small loan as the interest rates will vary as per the loan amount that is taken by the customer. Ensure you calculate all the needs and requirements of your business including the cost for labour, equipment, inventory and other costs.

    • Relationship with lender:
    • If you have a good and healthy relationship with the lender you are borrowing from and are an existing customer with them, then the interest rates can be negotiated for and one can get a lower interest rate. This can help you lower the interest rates on your business loan. Most lenders aim to please their customers and so they can lower the interest rates if you have a positive and long-term relationship with them.

    Eligibility criteria for small Business Loans in india

    • Should be a self-employed individual, Proprietor, Private Ltd. Co or a Partnership Firm that is involved in the business of manufacturing, trading or services
    • Should have a minimum of 2 to 3 years of business experience in the current business
    • Should have a minimum turnover of Rs. 24 lakhs
    • The applicant should be a minimum of 21 years and a maximum of 65 years.

    These criteria can vary from lender to lender and so it is best to check with your lender as to what their eligibility criteria are for their short-term loans.

    Documents needed for small Business Loans in india

    • PAN card of the individual or the company or the firm
    • ID proof (Aadhar card/passport/Voter’s ID/PAN Card/Driving license)
    • Address proof (Aadhar card/passport/ Voter’s ID/ Rent agreement/Driving license)
    • 6 months bank statement
    • Latest ITR with computation of income, balance sheet and profit and loss account for the last 2 years after being audited
    • Proof of continuation of business

    These documents needed can vary from lender to lender and so it is best to check with your lender as to what documents are required for their short-term loans.

    How to apply for a Business Loan

    • You can apply online by filling in the application form and turning in all the required documents.
    • You can apply in person by visiting the lender’s branch with all the needed documents and filling out the application form for the same.

    Business loan – FAQs

    1. What are the two types of small business loans?

    There are two types of business loans – secured and unsecured. A secured business loan is when the individual provides collateral as security for the loan amount. An unsecured business loan is when the loan amount is given without any collateral.

    2. What is the tenure for a business loan?

    Business loans have tenures that can extend up to 7 years.

    3. What are the usages of business loans?

    Business loans are applied for by people who aim to establish, expand or buy equipment for their businesses. Entrepreneurs who look for capital to begin their businesses also apply for business loans.

    4. What is the minimum and maximum age for applying for a business loan?

    The applicant should be a minimum of 21 years and a maximum of 65 years.

    Latest & Update Business Loan News

    Poonawalla Fincorp Starts Digital Consumption Loan Business21 Apr 2022

    Indian-based NBFC Poonawalla Fincorp Limited has started the Digital consumption loan space through the partnership with KrazyBee. Under this partnership, Poonawalla Fincorp provides small-ticket Personal finance to the consumers. The new partners ha...

    Read more

    Indian-based NBFC Poonawalla Fincorp Limited has started the Digital consumption loan space through the partnership with KrazyBee. Under this partnership, Poonawalla Fincorp provides small-ticket Personal finance to the consumers. The new partners have planned to disburse 1000 crores under this partnership. The main strategy of Poonawalla is to concentrate more on small business finance. The scheme will offer an end-to-end digital loan across the country. The credit underwriting for these loans is accomplished via a scorecard which allows the right consumer selection at scale, while the complete digital process supports democratizing the procedure of taking loans.

    Ninjacart collaborates with Avanti Finance to Introduce Credit products to uplift the Agri Value Chain community6 Apr 2022

    Ninjacart has announced its strategic tie-up with Avanti Finance to provide better digital financing to facilitate the agri-platform. This strategic partnership will provide speedy and hassle-free access to credit products and unique technical suppor...

    Read more

    Ninjacart has announced its strategic tie-up with Avanti Finance to provide better digital financing to facilitate the agri-platform. This strategic partnership will provide speedy and hassle-free access to credit products and unique technical support to uplift the Agri value chain community. Ninjacart and Avanti will co-create an innovative digital lending platform to access credit flow at an affordable cost to serve the unserved parts of the Agri value chain community.

    New Update on Kinara Capital’s HerVikas Business loan21 Mar 2022

    Indian-based Fintech MSME loan provider, Kinara Capital has planned to promote women entrepreneurship by committing to disburse NRI 200 crores of Loan through its HerVikas women business scheme in the fiscal year 2022-2023. The HerVikas scheme provid...

    Read more

    Indian-based Fintech MSME loan provider, Kinara Capital has planned to promote women entrepreneurship by committing to disburse NRI 200 crores of Loan through its HerVikas women business scheme in the fiscal year 2022-2023. The HerVikas scheme provides hassle-free access to collateral-free business loans with automatic discounts to women entrepreneurs seeking MSME business loans. The myKirana App will make the loan process instant and easy for women entrepreneurs as the automatic discount is applied digitally without any paper works.

    Geojit credits introduce a digital platform for loans against shares14 Jan 2022

    Geojit credits, a subsidiary of the geojit financial services group, introduced a new digital platform providing loans against shares. The NSDL Digital LAS is designed to deliver quick liquidity to investors to confront their expenditures. Geojit's L...

    Read more

    Geojit credits, a subsidiary of the geojit financial services group, introduced a new digital platform providing loans against shares. The NSDL Digital LAS is designed to deliver quick liquidity to investors to confront their expenditures. Geojit's LAS digital platform will assist the consumers to apply for loans by pledging shares by opting for the scheme and finishing up all documentation through the online platform. Once the loan process is completed and the application has been digitally signed, the loan applicant will instantly receive the amount credited to their bank account. The interest amount will be levied on the amount that is utilized by the applicant. This initiative makes geojit credits become the first organization to digitally disburse Loans against shares to any Demat account owner who is registered with NSDL.

    Edelweiss group has announced its tie-up with Indian Bank for co-lending11 Jan 2022

    The Edelweiss group plans a strategic co-lending agreement with Indian Bank to promote the priority sectors. A Memorandum of Understanding was signed between the two lenders under RBI's Co-lending model. This co-lending arrangement broadens the port...

    Read more

    The Edelweiss group plans a strategic co-lending agreement with Indian Bank to promote the priority sectors. A Memorandum of Understanding was signed between the two lenders under RBI's Co-lending model. This co-lending arrangement broadens the portfolio of the two lenders and aids consumers to have enhanced access to their credit. The main motto of this alliance is to combine their strengths and provide better financial support for the priority sectors. When the Indian bank's low-cost capital flow services are combined with Edelweiss's unique services like customer acquisition, credit appraisal, and robust technology, will aid the consumers to attain all credit necessities.

    Business Loan - Customer Reviews

    4 / 5 (77 Reviews)
    29 Jan 2021

    Suitable loan and card products.,Good website - easy to use,

    19 Oct 2020

    Usefulness of information,good

    6 Oct 2020

    Usefulness of information,

    18 Sep 2020

    Usefulness of information,its very useful

    3 Sep 2020

    Product offers,Usefulness of information,Credit Report Analysis,Website/app interface,

    ×Thank you! Your comment will be reviewed and posted shortly.

    CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.