Business loan is a credit facility offered by Banks/NBFCs to meet the financial requirements of self-employed customers and enterprises. It can be availed by individuals, MSMEs, business owners, entrepreneurs, retailers, traders, manufacturers, self-employed professionals (CAs/Doctors), and several other business entities.

Business loans are majorly classified into two types, such as secured loans and unsecured loans. Secured loans are types of loans that require collateral/security, that borrowers need to deposit with the lender to avail funds. However, in the case of unsecured loans, there is no need to submit any type of collateral/security with the Bank, NBFC, or any other financial institution.

Banks/NBFCs offer a range of both Secured and Unsecured Business Loans that include Term Loans (Short-term/Intermediate-term/Long-term), Working Capital Loans, Cash Credit, Overdraft, Letter of Credit, Bill/Invoice Discounting, Equipment Finance, Machinery Loans, Point-of-Sale (POS) Loans/Merchant Cash Advance, Fleet Finance, Loans under Bank Guarantee (BG), Loan under Govt. schemes, etc.

The minimum loan amount offered starts from as low as Rs. 10,000 which can be availed from NBFCs, Small Finance Banks (SFBs), Regional Rural Banks (RRBs), or Micro Finance Institutions (MFIs). Borrowers can avail collateral-free business loans of amounts up to Rs. 2 crores from leading Private and Public Sector Banks, NBFCs, etc. Small Business Loans and Startup Loans are also available for individuals and MSMEs at competitive interest rates.

• UNSECURED OVERDRAFT LIMIT
• TERM LOAN