Business Loan

Run And Grow Your Business

Business Loan

Run And Grow Your Business

Business Loan

A Business loan for whatever you need and whenever you need

It’s time to grow your business by investing in capital expenditure or funding the working capital gap. In every business lifecycle, at some point or the other, you need to raise debt for growing it efficiently or for smooth business operations, by meeting its working capital requirements. At times like these, a business loan can be the best financial help that a promoter can get.

Check Your Eligibility

To know how much loan you can get

Loan Amount

Last Year ITR

EMI

Turnover

Mobile

OTP

Email

Employment Type

About Business Loan

Avail a business loan and use it towards daily capital expenses, managing working capital gap, specific project funding and expansion of the business including the purchase of a new machinery. You can also apply for a business loan if you need capital to start a new business or ancillary units for your existing business. There are many banks & NBFCs that offer loans up to 50 lakhs, with or without collaterals and with pre-approved offers. The rate of interest applicable and tenure offered for the loan depends upon a number of factors such as your credit rating, the profitability of the business, future growth potential etc. Grow your business with Business Loans from Afinoz. We provide you with several options in business loans from different banks and NBFCs. Now you can easily avail business loans through Afinoz without any hassles. We are always with you to help build your business.

Features & Benefits

Avail the following benefits with just few clicks.

  • Loan amount starts from Rs. 50,000
  • Simple and easy documentation process
  • Tenure for business loans ranges from 12 months to 60 months
  • No collateral or guarantor required
  • Business loan interest rates vary from 13% to 35% depending on the eligibility of the applicant and the quality of business.

Accessible and Convenient
Multiple Loan Options
Competitive interest rates
Non Profit Sharing
Business loans offer tax benefits
Accessible and Convenient
Multiple Loan Options
Competitive interest rates
Non Profit Sharing
Business loans offer tax benefits

Eligibility & Documents Required

Business loan eligibility criteria

Establish your eligibility and get the funds hassle free. It depends on the bank and the amount of risk they are ready to take on a particular business. It also depends upon whether the loan is for an existing business or to start a new one. There are many banks & NBFCs in India that offer loans for both small and big businesses. Getting approval & disbursal is possible within a few days, if you have all the essential documents and you meet the eligibility criteria. Given below is the list of generic eligibility criteria required to apply for a business loan in India.

Private Limited Company
Self-Employed Professionals
Proprietorship & partnership firms
Private Limited Company
Net income of the applicant or the concern should be more than Rs. 150,000 per annum (ITR) for a business loan of up to Rs. 15 lakhs and over Rs. 300,000 (ITR) for a business loan above Rs. 15 lakhs.
Age Limit
Income
Turnover
Co-applicants
Age Limit
The age of a loan applicant must be between 21 to 65 years.
Self-Employed Professionals
Self-Employed Non-Professionals
Entities
Self-Employed Professionals
This includes Chartered Accountants, doctors, company secretaries, architects and designers etc. who are indulged in their own practices.
General Documents Checklist
Self-Employed (Private Ltd. Co. and Partnership Firms)
Self-Employed Individuals – Professionals
Self-Employed Individuals – Non-Professionals
General Documents Checklist
  • Identity proof - Driving License/PAN Card/Passport/Voters ID card
  • Address Proof (Ration card/latest telephone or electricity Bill/Passport/Trade license/Lease agreement/Sales Tax certificate)
  • Bank statement for the last 6 months
  • Proof of continuation
  • Other Mandatory Documents such as Sole Proprietorship Declaration, Certified true copy of Memorandum & Articles of Association
  • Audited financials (signed by a CA) for the last 3 years.
  • Copies of IT returns for the last two years

Interest Rate & Charges

Business Loan Interest rates & other charges applicable on a loan depend upon the health of the firm i.e. annual turnover and profitability amongst other factors. Has the entity been growing, reducing in size or been at the same level for the past few years? What is the amount you are looking to raise as debt? How many years are you planning to avail it for? How is the promoter’s credit history? Has he / she ever defaulted on any debt, credit card payments etc.?

We, at Afinoz, can assure you that we will get you the best interest rate available & possible ,considering all the above-mentioned factors.

Bank
Interest Rates*
Processing Fees

SBI11.20%-16.30%Upto 2 to 3% of the total loan amount + GST
PNB12.60% - 15.60%Upto 0.90% - 1.80% of the loan amount + GST
HDFC15.65 % to 21.20%Up to 2.5% of loan amount + GST
ICICI16.49% TO 18.99%Up to 2% of loan amount + GST
Bank Of Baroda14.10%UP to 1% of the loan amount
Axis17% to 20.00%Up to 1.25% of loan amount + Service Tax
TATA Capital19% to 24%Up to 2.75% of the loan amount + GST
RBL bank20% to 22%3% of loan amount
Indusind Bank18.20% to 20.20%2% of the loan amount
Kotak Mahindra16% to 19.99%3% of the loan amount
Fullerton India13% to 33.5%6.5% of the loan amount
Bajaj Finserv18% to 35%Up to 3% of the loan amount
IIFL16% to 26%Up to 3% of the loan amount
MUFIN Finance13% to 28%Up to 3% of the loan amount
Incred Finance16% onwards2% to 5% of the loan amount
Prest loan18% to 26%3% of the loan amount
LendingKart15% to 27%Up to 2% of the loan amount
HDB Bank18% to 20%Up to 2% of the loan amount
Aditya Birla Finance14% to 21%2% of the loan amount
Vistaar Finance15% to 29.25%2% of the loan amount
Neo Growth18% to 24%2% of the loan amount

FAQs

Q. What is a Business loan?
+
Q. What are the minimum and maximum loan limits for a business loan?
+
Q. How much time does it take to disburse the business loan?
+
Q. What is the minimum amount of security that needs to be provided for availing the term loan?
+
Q. Is any collateral or additional security required for availing this loan?
+
Q. Is pre-closure allowed in business loans?
+
Q. Is part payment allowed on a business loan?
+
Q. How is a business loan repaid?
+
Q. What happens if the ECS bounces or I miss an EMI payment?
+
Q. What is the rate of interest & processing fee on business loans?
+