About Business Loan
The foremost priority of any entrepreneur is to see his/her business grow, expand and flourish. To fulfill this desire, business owners opt for business loans and meet their financial requirements. However, getting instant funds is not always possible, as banks and Financial Services Companies take their time in deciding whether to sanction loan or not.
Business loans are majorly availed for purposes like business expansion, purchase of machinery or plant, investment in infrastructure, hiring staff, maintain inventory, etc. Further we have discussed all the relevant aspects of business loan for in-depth understanding.
A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. There are a number of different types of business loans, including bank loans, mezzanine financing, asset-based financing, invoice financing, microloans, business cash advances and cash flow loans.
Starting or expanding a business often means applying for and getting approved for a loan or a business line of credit. For years Delhi has been known for its culture of entrepreneurship and business. With the expansion of the city and the rise of new commercial hubs in the NCR region like Gurgaon and Noida, the appetite for business has expanded manifold.
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Capital is a vital component for the success of commerce today. Irrespective of whether a firm is in proprietorship or big organization, finance holds the key to its development, and managing finance is certainly not a child’s play. Keeping all this in mind, Loan Emit offers Business Loans to help budding and existing entrepreneurs.
A business loan is generally borrowed to meet the needs of a growing business. Whenever enterprises avail unsecured business loans, they direct the funds towards areas that need immediate attention. These loans can be utilized for business expansion or purchasing equipment to increase production levels. Their use is not limited to this. With the help of a business loan, a business can hire staff, maintain inventory, or improve infrastructure. All in all, this means that a business loan provides the necessary funds that can help in the progress of an enterprise.
Just like a personal loans, a business loan can also be used for multiple purposes as long as they are related to your business. Once you pass the business loan eligibility criteria, you are all set to receive your loan. Business loans come in various forms like bank loans, asset-based financing, invoice financing, microloans, SBA loans, and a lot more. After comparing these options, you can opt for the one that best matches your need. At Loan Emi, we enable your business to meet its funding requirements by assisting you in making an informed decision.
Why opt for LoanEMI Business Home Loans
Business Loans can ensure the sure-shot growth of your business. We understand that every company has different financial requirements. With our wide-ranging services, you conveniently get to choose a business loan that will help you meet those requirements.
You do not even have to worry about security or collateral as we also offer an unsecured business loan in Delhi. This enables you to move along without risking any of your assets. Depending on your needs, you can opt for either short-term or long-term business loans. With our flexible repayment schedule, you can pay off the loan amount quickly.
We offer business loans at a much affordable and reasonable rate to our clients. You can borrow a business loan ranging from ₹5000-₹2,00,00,000 at attractive interest rates. This repayment period is usually determined by the amount of loan you are applying for. Funding your business will never be a problem when we are around. You can get business loans for almost any business-related financial need.
We even offer unsecured small business loans to eliminate the risk from your way. To manage your loans effortlessly, download our app on any mobile device. You can apply for our online business loan and get the loan approved without any delay. It is only a matter of 3 business days until your loan gets fully approved.
We ensure complete transparency when it comes to the loan eligibility criteria. Unlike other institutions, we do not require too many documents from you. Our approval process is simple and super quick. You just need to fill out the application form on our portal. Your problem is our problem, and we can go to lengths to solve it.
loan Emi offer both secured and unsecured business loans based on state and need of the business. There are three types term loans available as follow:
- Short-term loans
- Long-term loans and
- Intermediate loans.
The repayment schedule of term loans can be monthly or quarterly. Based on the term loan secured, the type of interest can be floating or fixed.
A demand loan needs to be repaid based on the demand schedule. Banks and the financial institutions offer both secured and unsecured demand loans. The repayment tenure of demand loans extends up to maximum 12 months.
Such loans are offered based on bank approved financial securities such as insurance policies, mutual funds, demat shares, saving bonds, fixed maturity plans etc. Such loans can be secured to mitigate an immediate financial crisis.
What are the key features of Business Loans?
The amount of loan you can get will be determined by the state of your business, its market valuation, and profits. It often happens that when you apply for a business loan in Delhi, it takes years to get approved by the financial institute. This is not the case with us. We ensure that the approval and the processing take place at a rapid speed. This way, we help you meet your financial needs instantly. To help you avoid facing any issues, we offer a repayment tenor ranging from 5 to 15 years.
Since we have an excellent track record, most people looking for a business loan online apply for approval from us. You, too, can benefit hugely from our low interest rates and the flexible repayment period. We do not ever let you feel that the loan amount is a burden in any way. We try to make the entire approval process as convenient as possible for our clients by delivering our services right at their doorstep. We use advanced online banking tools and provide the best results in not more than a minute.
As an informed and smart borrower, you should understand all the basic and advanced features of business loans. Below is the list of key features of the business loans that are offered in India.
The loan amount of a business loan primarily depends on the state of business, valuation, profits, the age of the business and the industry it is operating in.
Documentations quick, easy and hassle free.
It offers flexible repayment options based on the profile of the borrower and the business.
What are the benefits of Business Loans?
Business loans are the most preferred options to make funds available for your business.
Below is a list of various outstanding benefits offers by business loans.
An unsecured business loans offer immediate financial assistance to a business based on their unique requirements. Such loans offer flexible repayment tenure with lower interest rates.
Today, most of the lenders in India does not require any security or guarantor to avail a business loan. Further, these financial institutions are offering doorstep services to the applicant today.
With the advent of the Internet, the evaluation of eligibility and approvals of loans are becoming lighting fast; some of the lenders offer services like business loan eligibility in one minute etc.
A few of the lenders offer higher business loan amounts to the self-employed individuals.
Step to apply for Business Loan
Fill in the Business Loan Application form, to check your eligibility
Compare various Business Loan options, and apply for the best suitable option.
Get an instant e-approval, after successful submission of the application
Eligibility & Documents
Self-Employed Professionals
Self Employed Non-Professionals
Partnership firms, LLPs, private limited companies and closely held limited companies
As part of the eligibility criteria, the applicant needs to fulfill the below to apply for a business loan.
Must have a business turnover of Rs. 40 Lakhs
Must run the current business for at least three years
Must have five years of total business experience
The business must be in a profitable state for the last two years
Must have an annual income of Rs. 1.5 Lakh per annum
Applicants should be in the age group of 21 to 65
- To apply for a business loan, you need to submit the below documents along with the duly filled application form.
- PAN card of the individual, firm and the company
- Proof identity
- Proof of address
- Last six months bank statement
- Most recent ITR with the computation of income
- Last two year’s audited profit & loss details and balance sheet
- Proof of business continuation
- Partnership deed, MOA and AOA etc.
FAQ
A business loan is a financial offering that can be borrowed to meet your planned and unplanned business expenses. It is a kind of unsecured financing, and you can avail of one without providing any collateral.
You can get a business loan of up to Rs. 45 lakh by fulfilling the easy-to-meet eligibility criteria. A list of documents as your business proof will be then required to submit. Your application is approved; you can get the loan amount in your bank account within 24 hours.*
*Terms and conditions apply
Applying for a business loan from LoanEMI is easy. Start by clicking on the Apply Online button on this page and open the online application form. Enter your basic details and verify your details.
Share the basic details of your business and gather your business documents. A representative from LoanEMI will contact you with the next steps.
Once your loan application is approved, you can get money in your account within 24 hours.*
*Terms and conditions apply
Business entities such as partnership firms, private limited companies, self-employed professionals, and self-employed non-professionals can apply
for a Business Loan. All applicants are required to fulfilling the eligibility criteria and submit their relevant documents to be considered for approval.
Interest rate offered by various banks and Financial Services Companies starts from 14.99% onwards.
The maximum age of availing a business loan is up to 65 years.
