Business Loans are primarily assessed on the basis of business credentials & business prospectus. These Loans do not require collateral or security to a certain extent. However if the need is for business expansion then to secure higher exposure, banks used to demand collateral.
These loans can be secured & unsecured depending upon the quantum & need of the business.
Who can apply for Business Loan?
Any entrepreneur can apply for Business Loan for his business. The applicant should have 2~3 years business vintage & execution capabilities presentable in front of prospective lenders / Banks.
Primarily following applicants are eligible:
- Service Providers
What are the Interest rates?
Interest rates depend on your business credentials & vary certain basis points for each applicant depending on his profile. We help you to attain best possible competitive rates. Most of the Business loans are procured from Banks & financial institutions so the ROI would be with in the prescribed limit announced time to time by RBI.
What is the maximum loan amount one can get for business?
Broadly there is no upper limit for business loans. One can raise as much as required for business according to its credentials.
Why do we need Business Loan?
When your business grows to next stage & more funds are required to sustain the Business
What is the tenure?
Typically the tenure for credit line is 12 month & after 12 months the limit is reassessed for enhancements (if required). For Working Capital term loans the tenure is 36 months generally but it is flexible for needs of machine buying & else.