Unsecured Business Loan Make Your Business Dream Happen
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Objectives of Unsecured-BL
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Date of Birth*
Required Amount Loan*
Income (Per month)*
City you live in*
Business loan is a loan specifically intended for business purposes.
Funds available for business expansion, working capital.
High loan amounts (Multiple Bank/NBFC’s Options available).
Tenure ranging from 12 to 60 months.
No guarantor/security required.
Convenience of doorstep service.
Attractive Rate of Interest.
Minimum/Hassle free Documentation.
Who can buy a Unsecured Business Loan
An Unsecured Business Loan( also called as Business Loan-BL) can be raised to bridge the gap of funds in the business and is usually raised without any collateral/Security and only on the basis of your balance sheet and performance of the business.
A Self Employed Individual.
A Partnership Firm.
Private Limited Company.
A self Employed Professional like Chartered Accountant, Architect etc.
The minimum loan amount can be Rs. 7 Lacs and the maximum loan amount can be up-to 5 crores or more than that. Loan amount is subject to your financial credentials.
Flexible Repayment options
You can opt for a term/tenure of 1 to 5 years based on your repayment capacity of the loan.
You can repay the loan by equated monthly Installments(EMIs) through ECS to debit your account or with PDCs.
Part Payment/ Pre Mature closure of loan
Flexible options for early closure of loans.
Rate of interest may very from bank to bank and on your financial credentials.
Any person who is running a legitimate business with good earnings can go for a business loan. Banks have certain criteria to validate on how much and whom to give.
This is on the basis on folowing criteria
Type of the business : Proprietorship, Partnership, Pvt Ltd or Public Ltd.
Turnover of the business.
Profit of the business.
Cash flow of the business.
Track record and type of business.
Unsecured Business Loans, an applicant must be representing any of the entities below
Private Limited Companies.
The applicant must be at least 25 years of age.
ID Proof: Bank Signature Verification, Photo Pan Card, Passport, Driving License or
Voter's ID card.
Age & ID proof (any of the below): PAN CardPassportDrivers LicenseAadhar Card.
Residence/Office Ownership (any of the below) :Electricity Bill, Sales Deed copy.
Address Proof (any of the below) : Passport, LIC Premium Receipt, Utility Bill, Arms License Mobile Bill.
Last 12 months Bank Statement.
IT returns of last 3 Years.
Photograph with Signature.
Any other loan statements on books of individuals/partners/directors along with sanction letters.
Business continuity proof : 3 years income tax return & income statements
Last 2 year audit report and audited Financials.
Last 12 months bank statements.
In the case of transfer of a loan: Last 12 months of loans statement along with the Sanction Letter of your previous bank.
Any other loan statements on books of companies along with Sanction Letters.
Last 12 months loan statement with Sanction Letter of any other existing loans.
Business incorporation date proof : PAN Card.
MOA(Memorandum of Association) and AOA (Articles of Association)
Latest share holding pattern on company letterhead.
List of current Directors on company letterhead.
Certificate of Incorporation
What are the key features of Unsecured Business Loan?
If you are looking at hassle free, fast processing with easy documentation and no collateral or security to be offered, then Unsecured Business loan is just the product for you.
Who can avail Unsecured Business Loan?
Unsecured Business Loan can be availed by SME, professionals, manufacturers, service providers and traders.
What are the loan tenure options available?
Unsecured Business Loan can be availed for tenure of 12 months, 24 months or 36 months.
What is the minimum and maximum loan amount which can be availed
under Unsecured Business Loan?
The minimum and maximum loan amount which can be availed under Unsecured Business Loan is INR 10 lakhs and INR 50 lakhs respectively.
What is the security or collateral required to be provided to
avail of an Unsecured Business Loan?
No security or collateral is required to avail of this loan.
We are a start up firm, can we avail of this loan?
Unsecured Business Loan is not offered to start up as the minimum business vintage of 3 years in the same line of business and business operations in the same city is required. Two years of audited financials would be required to be submitted to avail of this loan.
Can I part pay or prepay the loan?
Prepayment is allowed only after nine months from the date of disbursal. No part payment is allowed.