Unsecured Business Loan (up to 10 Cr.)

10 Cr+

Business Done

30+

Banks & NBFCs

2 Thousand+

Happy Customers

An unsecured loan is supported and issued by the borrower’s creditworthiness rather than any type of collateral. Unsecured loans sometimes referred to as personal loans or signature loans are obtained without the use of other assets or property as collateral. The terms of such loans including receipt and approval and therefore must often contingent on the borrower’s credit score. In Unsecured loan, Borrowers generally have high credit ratings to be approved for certain unsecured loans.

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What is an Unsecured Business Loan?

An unsecured loan is supported and issued by the borrower’s creditworthiness rather than any type of collateral. Unsecured loans sometimes referred to as personal loans or signature loans are obtained without the use of other assets or property as collateral. The terms of such loans including receipt and approval and therefore must often contingent on the borrower’s credit score. Unsecured loans, Borrowers generally have high credit ratings to be approved for certain unsecured loans.

Key features about unsecured loan

No collateral: There is no collateral required. That’s why for a small number of short-term loans, the borrower can easily think of an unsecured loan.
The creditworthiness of the borrower is important: Before offering any amount, the bank or financial institution firstly checks whether the person taking loan has the creditworthiness to pay off the amount in the near future.
Higher interest rate: In this interest rate is much higher than the interest rate for a secured loan

Great personal loan: It would be best suited for personal loans also. If you need money immediately, you can easily go to the bank and ask for a personal loan. If the bank finds you to be a good fit in the creditworthiness, they will offer you a loan without any collateral.

There are few great features in this product which makes it so much popular for MSMEs

1 Loan without property
2 Quick disbursement
3 Easy to apply with minimum documentation
4 Short term needs
5 Easy to avail as low eligibility criteria
6 Short term repayment
7 Monthly EMI
8 Repayment tenure 12 to 36 months
9 ROI 15.50% to 19%
10 Also Available in DOD form

What is the Process of Business Loan
  1. Login
  2. CIBIL
  3.  Verification – 2 visit different agencies
  4. Calculation sheet to check eligibility
  5.  PD (Physical Discussion)
  6. Post PD queries
  7. Decision – Sanction/ Reject
  8. Sanction
  9.  Agreement formalities
  10. Disbursement
Unsecured loan Eligibility & Not Eligibility Criteria

Who can Eligibility for this loan?

This product is specially made for MSMEs. Any businessman or professional can avail of this product those who have legal business in nature and can prove with relevant documents.

  1. Annual turnover > 50 Lacs
  2. Business vintage >3 Year
  3. Ownership Proof – Anyone from residence or office
  4. Profitable business
  5. Clear credit history
  6. Business doesn’t fall in the negative list

Who can not Eligibility for this loan?

That business falls in the negative list for lending they can’t avail this loan like:-

  1. Property dealer
  2. Builder
  3. Old vehicle sales purchase dealer
  4. Liquor shop
  5. Financial services agencies
How many funds can get from this loan?

There are three main parameters to fund on this product.

  1. Legal Business
  2. Repayment Capacity
  3. End-Use
Scheme to calculate the repayment capacity of the borrower.
  1. Cash Profit ( DSCR)
  2. Banking ABB
  3. RTR ( Repayment track record)
  4. GST program
  5. EDC Machine Loan

Business Loan Provider’s banks 

  • HDFC Bank
  • Kotak Mahindra Bank
  • ICICI Bank
  • RBL Bank
  • Axis Bank
  • IDFC First Bank
  • Deutsche Bank
  • Standard Chartered Bank
  • Indusind Bank, etc.

Business Loan Provider’s NBFCs

  • Aditya Birla Capital
  • Magma Fincorp
  • Hero Fincorp
  • Fullerton India
  • Tata Capital Edelweiss
  • Capital float
  •  Rattan India
  • Bajaj Finance
  • Capital Tech
  • Fed Bank Finance
  • Clix Capital
  • Sriram Union Finance
  • Lending Kart
  • Neogrowth
  • Uglow
  • SME Corner
  • Pinnacle Capital, etc.