Working capital is the part of the business finance, which is used to meet short-term liabilities and keep up the daily operations of the business smoothly. Whether you need to pay salaries to your staff, office rent, charges for maintenance of machinery or equipment, electricity bill, or buy inventory, working capital is required. So, seeing the importance of working capital for a business, its shortfall can affect the business adversely and hamper productivity as well. Consequently, business revenue and profits can also be impacted.
To give a boost to the working capital, you can consider availing a business loan from us. We offer tailor-made small business loans designed to meet specific needs at the lowest interest rates in the market. In addition to multiple repayment options, we provide a simple loan application process and disburse the loan amount in just three days*. You can use the funds availed from us as working capital or buy machinery/ equipment from it as well.
Let us now take a look at how a small business loan from us can help you keep your business afloat in the new financial year.
Basic Eligibility Criteria to avail a Business Loan
Our business loan is a customised loan product for SMEs and MSMEs and can be availed by small business owners only if they meet the following loan eligibility criteria:
- A business vintage of more than two years
- The income tax return filed in the previous year should be more than Rs. 1.5 lakhs
- Last year business turnover of more than Rs. 10 lakhs
- The business owner should own either his house or business place
- Business place and the house should be different
All these are easy to meet eligibility criteria. All small business owners can meet it with ease, and they can apply for a business loan easily as well. In a nutshell, instead of worrying about how to get a loan, you can focus all your energy on the business functions.
Online Business Loan Application & Instant Approval
You can apply for unsecured business loans from us online by first completing the eligibility check in just three steps. If you are eligible for the loan, you can fill out the loan application by providing relevant details. Next, you need to submit the loan documents that will help in proving your eligibility. Then, you need to wait for document verification and final loan approval. After which, a physical verification will take place. Once it’s done, you will have to sign a loan agreement with us, after which, the business loan amount will be credited into your account directly. Surprisingly, all this process just takes three days
Optionally, you can also apply for a business loan with us by giving us a missed call on 011-43109585. So, with an unsecured business loan from us, you can meet your working capital needs without wasting any time.
Collateral-free Loans – No need to offer Security
If you are availing a business loan to meet your working capital requirements, you may not be happy putting all your savings and assets at stake and risk your business. Keeping this mind, we offer business loans without security. This means you don’t need to offer any security or collateral. Or there is not even a need to have a nominee or guarantor. So, you can borrow a loan for business ranging from Rs. 1,00,000 to Rs. 5,00,000 without worrying about the security. This means that not only you can apply for a loan online and get its approval faster; there is no need to offer security or collateral as well. Thus, the entire loan application process is also sped up.
Pre-approved Offers – Application Time is Reduced Significantly
To help your small business grow further, we offer a pre-approved loan offers to our existing customers. Under this offer, our existing customers can avail a top-up loan from us of up to Rs. 7.5 lakhs. This, in turn, helps you save time taken to apply for a new loan application as the amount is offered on your ongoing account.
All the benefits discussed above point towards the benefits of availing a business loan from us. This facility from us can be used flexibly, i.e. you can use the same for working capital, machinery purchase, etc. You are free to use the money as per your discretion; it only should be used for expenses related to business. So, you can borrow money and use it to meet the various needs of your business.
Another advantage is that we charge very competitive interest rates. Also, you can choose any loan repayment tenure between 12, 18, and 24 months that best suits you. Thus, you can repay the loan as per your pocket.