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Business Loan

A loan which is procured with the motive of boosting or assisting one’s business is commonly referred to as a business loan. The pre-requisites to such a loan are similar to most of the loans available for different purposes in the market, creation of a debt worth the principal amount which will be repaid in addition to the interest amount that it attracts at a decided rate. Business loan can be acquired for several purposes and motives including loans that are required to set up a startup and meet its’ initial input costs like the cost of fixed and variable capital, loans required to buy inputs like technology in a pre-existing firm, loans can be procured even to meet cash requirements of an entrepreneur acting as a cushion. Business loans can also be short term loans whose debt repayment is generally due within a shorter period of time span, i.e. 1 to 24 months. Equally likely is getting a loan for longer period of time however such a loan is only for the purpose of establishment of fixed capital in a businesses.

Loans required by businesses can be given by the government under schemes or flagship programmes or by banks as well with the help of collateral, which can be kept as security by the debtor. Self Help Groups (SHGs) and Small and Medium Enterprises (SMEs) can procure loan even for non-profit business purposes as well. The most important things that should be kept in mind while taking a loan are the purpose of taking a loan, the duration to which the repayment will be due, whether the loan actually helps the debtor and the credit score, on the basis of which the loan will be offered to the one that desires it. The scale and magnitude of the business also helps in assessing the amount of loan

What is a Business Loan?

Each business is unique & have specific requirements. Business loan is offered by various banks & financial institutions across the country are customized & customer centric. These are made to offer the business owners with the wide array of financing alternatives.

The small business loan is safest & easiest option to appropriately finance the business objectives. Banks & financial institutions offer tailor made loans based on nature, scope & goal of the requirements.
We are brings special Doctors Program for MBBS, BDS & Above qualification Interest rate start from @10.99%, Loan up to 5 Years.

Features

Business loans in can be availed in range of Rs.1,00,000 to Rs. 2 Crore. These loan applications normally get approved quickly without any hassle during the process. Most banks & financial institutions provide the customer with promise of unsecured lending solutions when it comes to the business loan. The business loan come with the added benefit of services, like SMS, Web Chat, Phone Banking, etc. Some banks extend exclusive higher loan amounts to the self employed customers. With minimal paperwork & flexible repayment options, more & more business owners are leaning on business loan to fund the business need.

Benefits

Unsecured business loan enable businesses to fund exact exigencies & repay the loan amount in easy EMI. These loans are availed for the different reasons, including the business expansions, working capital, etc.

Banks & financial institutions offers business loans to customers with flexibility of the doorstep service. Furthermore, business loans in India normally do not expect any collateral, guarantor or security from an applicant.

Some banks offer customers with a facility of business loan within a minute, either online or through their branches. These speedy approvals assure that customers do not waste their time waiting to hear from banks for status of their loan application.

Business loans are destined to help small businesses to meet their capital & other requirements. Generally, the following categories of people can avail the business loan.

Business Loan Rate of Interest 2020

To help its customers get the best interest rates on Business loans has consolidated all the information regarding latest rate of interests at one place. Keep visiting this section and remain updated.

Banks/Finance companyMinimum ITR Net Profit Rs.Rate of Interest BetweenLoan Amount Provides BetweenTurnover
HDFC Bank2.5 Lac15% – 18%1 Lac – 50 LacMin 1 Cr
HDFC Bank2.5 Lac15% – 18%1 Lac – 50 LacMin 1 Cr
RBL Bank2.5 Lac16% – 22 %1 Lac -50 LacNA
RBL Bank2.5 Lac16% – 22 %1 Lac -50 LacNA
RBL Bank2.5 Lac16% – 22 %1 Lac -50 LacNA

Personal Loan Real time Approval

Self Employed Professionals
This type of category include, allopathic doctors, chartered accountants, company secretaries, & architects etc. This is subject to the applicants who have the proof of qualifications & are practicing their profession.

Self Employed Non Professionals:
This type of category includes traders & manufacturers.

Who can avail Business Loan?

Following entities can avail the business loan:

  • Proprietorship
  • Partnerships
  • Closely Held Limited Companies
  • Private Limited Companies
  • Limited Liability Partnerships

Applicants have to fulfil following criteria in order to be eligible for business loan:

 

  • No Minimum Turnover
  • Min 3 years experience in the current business
  • Min 3 years of business experience
  • Business should make profit for last 2 years
  • Min Annual Income is Rs.1.5 Lacs
  • Min age of applicant is 21 years
  • Max age of applicant is 65 years at a time of loan maturity

FAQ

Monthly Income

Your monthly income will be the critical factor determining your loan amount and the interest rate.the interest rate other loans 

Age

The age criteria may differ from lender to lender, but those aged between 18 and 70 years are more likely to get a loan

Monthly Expenses

Your ability to pay back a loan is judged to some extent from your monthly expense, making it an important factor for evaluation.

Any Other Loan

When it comes to Loans, it’s not more the merrier. Your chances improve if you don’t have another loan to your name.

Credit History

Your monthly income will be the critical factor determining your loan amount and the interest rate.the interest rate other loans 

Job Stability

Your monthly income will be the critical factor determining your loan amount and the interest rate.the interest rate other loans 

Monthly Income

Your monthly income will be the critical factor determining your loan amount and the interest rate.the interest rate other loans 

Category of Employer

Your monthly income will be the critical factor determining your loan amount and the interest rate.the interest rate other loans