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Neogrowth Business Loan offers loan amounts starting at just Rs. 2 Lakhs and up to Rs. 75 Lakhs. Tenures range from 6 months to 24 months. Interest rates for a business loan begins at just 13%. Check your eligibility and start the application online with CreditMantri.
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NeoGrowth is a Non-Banking Financial Company (NBFC) that is registered with RBI. They began commercial operations in the year 2013 and created a credit product to aid Indians with business. They have partnered with over 13,000 business merchants to expand and grow their businesses. They offer technologically enabled processes and smart analytics to ensure that they provide the best services and products in the market. They have certain core values that include accountability, teamwork, empowerment, integrity, orientation towards results, innovation and customer focus.
A business loan is a type of loan that is applied for by individuals 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. There are two types of 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 benefit of a lower rate of interest.
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.
NeoGrowth business loans aim to finance small business owners to help them achieve financial success in the market. Their team helps clients grow and aims to create a good social impact. They provide business loans to two distinct segments, namely, retailers with EDC/POS machines and to online sellers.
NeoGrowth provides loan amounts that begin at just Rs.2 lakhs and up to Rs.75 lakhs for their customers.
NeoGrowth provides tenures that range from 6 months to 24 months based on the customer’s requirement.
The interest rates for a business loan generally begin at just 13%. NeoGrowth interest rates are fixed at the sole discretion of the lender. The rates can vary based on credit scores, current performance of the business and other factors.
NeoGrowth believes in a simple loan process and thereby requires simple and minimal documentation from the customer, and they also offer doorstep services to collect the few documents that are required.
NeoGrowth does not check the business’ historic financials but only looks at the current business performance and stability. The business loans are sanctioned based on the present and future cash flows only and the past is not taken into account.
When applying for a NeoGrowth business loan, there is no requirement to visit their office. They provide doorstep service. They also have an in-house technology platform, AdvanceSuite and modern underwriting approach that ensures that the loan amount is in your bank account in just 3 working days!
Performance based loan approval:
NeoGrowth sanctions business loans only based on present and future cash flow and does not take into consideration past financial statements of the business. Current business stability and performance is assessed for loan approvals.
NeoGrowth believes in a very simple loan process and thereby requires very simple and minimal documentation from the customer and they also offer doorstep services to collect the few documents that are required.
Speedy disbursal and convenience:
When applying for a NeoGrowth Business Loan, there is no requirement to visit their office. They provide doorstep service. They also have an in-house technology platform, AdvanceSuite and modern underwriting approach that ensures that the loan amount is in your bank account in just 3 working days!
1. What are the two types of business loans available at NeoGrowth?
There are two types of business loans at NeoGrowth – Business loans for retails with EDC/POS and business loans for online sellers.
2. How is the loan amount disbursed to the customer?
The loan amount is disbursed through NEFT/RTGS or cheque as per the customer’s need.
3. Can one pre-close a business loan at NeoGrowth?
Yes, you can opt for pre-closure of your loan at any stage without any penal charges.
4. What is the minimum and maximum loan amount one can get at NeoGrowth?
NeoGrowth provides loan amounts that being at just Rs.2 lakhs up to Rs.75 lakhs for their customers.
5. What are the tenures provided by NeoGrowth for the business loan?
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