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Business Loans

Personal Loan

Financial Flow is the life blood of any successful organisation. Most businesses will need a large amount of working capital to start up a new business or enable the rapid growth of an existing business. Scaling up always requires a influx of finances. Which is why, we go to all lengths to ensure that we can disburse a loan that can help you take your business to the next level. Business loans are very special to Andromeda and we have been helping our customers scale to new heights of success by helping them finance their dreams for their enterprises. While a personal is given on a personal capacity and income, a business loan is given based on company’s income and capacity and is given in the company’s name.


Business loans are categorized broadly into following 2 segments.
  1. Secured Business Loans: A 3 year term loan for proprietorship, partnership, private limited companies and limited companies based on a sound balance sheet.
  2. Unsecured Business Loans: Working capital funding in rupees as well as foreign currency for proprietorship, partnership, private limited companies and limited companies.

Unsecured Business loans

Unsecured Business Loans are loans taken by the borrower to start or enhance a business without any collateral. The borrower need not pledge any of his property or asset. There are many banks like HDFC, SBI, etc. that provide you unsecured business loan in India and of course many financial services too like karvy financial services, cholamandalam financial services, indiabulls financial services etc.

WAY2BANKLOAN – India’s largest loan distributor brings the best deals for you.

Question 1: Starting a business OR need to enhance your business?
Question 2: Looking for a loan?

If the answers to both the above questions are ‘Yes’, then look for WAY2BANKLON. We can help you avail unsecured business loans with no collateral, minimal paper work and quick approvals, 3 year term loan for proprietorship, partnership, private limited companies and limited companies based on a sound balance sheet. The eligibility criteria for unsecured business loan differ from bank to bank. However most often they consider the below factors:

  1. Age – Most banks disburse business loans to individuals aged between -- to -- years.
  2. Current Business Experience – Banks will prefer that your business has been showing stable signs of growth at least for the last 3 years. Some banks give a loan amount up to 60 to 80% of your median annual profits.
  3. Total Business Experience – A bank will prefer if you have been engaged in sustainable business for at least 5 years to consider giving you a loan.

Working Capital for Business: Financial Services offers unsecured loans for your business needs. If you fall under the eligibility criteria and submit the relevant documentation you can get going with business loan without risking your assets and running business in constant fear of repayment of loan.

TIPS

  • Always have an appropriate estimate of the working capital.
  • Compare business loan from various banks. The eligibility criterion varies from bank to bank and so also the procedures and formalities.
  • Please remember that the interest rates on unsecured business loans are always higher when compared to the secured business loans.
  • Get a quote on the loan by filling in and submitting the details from free quote.
  • You will need good credit reports / CIBIL score while applying for a loan. This is by far the main criteria to be eligible for a business loan.

Top 3 private banks that have healthy loan growth as per an article from www.business-standard.com are ICICI, Axis and HDFC Banks.

ICICI Bank offers short-term unsecured finance
  • Available at reasonable cost to selected dealers of large corporates, extended for procurement of goods from corporates.
  • Commonly available on a non-recourse basis, with corporate recourse available by way of First Loss Deficiency Guarantee in some cases.
  • Service Charges – 0% – 2% plus applicable service taxes
HDFC unsecured business loan
  • Loan limits of up to Rs.10 lakh
  • Doorstep service
  • With competitive interest rates
  • Special offer for self-employed Doctors
  • Attractive interest rates
AXIS BANK
  • Competitive interest rates
  • A vast segment of products suiting every requirement and budget
  • Convenient, quick disposal of loans for your enterprise requirements.
Compare the best deals from Banks offering Unsecured Business Loans or simply get a free quote by providing us the required details.
Frequently asked questions on Unsecured Business loan approvals.
  1. What Is Your Approval Rate?
    The approval rate is high if you fall under the eligibility criteria.
  2. Is There a Fee To Have business loan Released?
    No.
  3. How Long Does It Take to Get Approved?
    Approvals can happen in a matter of days.
  4. How Long Does It Take To Get The Funds?
    Processing of the loans usually take 4 working days after all the documents are submitted.
  5. Can I Pay the Loan Back Early?
    Yes. You can pre-pay the loan after repaying a min. of 6 EMI’s. Foreclosure charges would be applicable as per the banks term and condition.

Business Loan Eligibility Criteria

Most banks have a common set of parameters that they evaluate loan applicats with, but what exactly these parameters are depends from bank to bank.

Age

Most banks will disburse business loans to individuals aged between 24 to 65 years.

Current Business Experience

Banks will prefer that your business has been showing stable signs of growth at least for the last 3 years. If you can show sustained billing and revenues and top it off with profit, getting a business loan should not be a problem for you. Some banks give a loan amount up to 60 to 80% of your median annual profits.

Total Business Experience

A bank will prefer if you have been engaged in sustainable business for atleast 5 years to consider giving you a loan. Your diversity in terms of business experience and so on along with good results will help you acquire your business loan.

REQUIRMENT DOCUMENTS

The following documents are required along with your Business Loan application:

SALE – PROPRITERSHIP FORM

KYC ::
(CO-APPLICENTS KYC REQUIRED IF APPLICANT IS LESS THEN 25 YEAR MORE THEN 60 YEAR , IF APPLICANT IS FEMAL)
  • ID PROFF – PAN CARD
  • ADDRESS PROFF – ADHAR CARD / PASPORT / UTILITY BILL / VOTER CARD (Any of one)
  • PASPORT SIZE PHOTO
OWNERSHIP ::
  • ELECT BILL / WATER BILL / HOSE TAX RECEPT / GAS LINE BILL
BUSINESS DOCUMENTS :: REGISTRATION + VINTAGE + ADDRESS PROFF –
  • GST CERTIFICATE- COMPALSORY
  • TIN NO
  • CURRENT ACCOUNT- (AS ADDRESS PROFF ONLY)
INCOME DOCUMENTS ::
  • LAST 2 YEAR- ITR & COMPUTATION
  • LAST 2 YEAR – PROFITS & LOSS AND BALANCE SHEET
  • LAST YEAR – DEBATERS & CREDITORS REPORT
  • LAST 2 YEAR – AUDIT REPORTS , 3CB & 3CD – IF BUSINESS TOURN OVER MORE THEN 2 CR OR FORM AUDITED
BANK STATEMENTS ::
  • LAST UPDATED 12 MONTHS ALL CURENT BANK STATEMENTS IN PDF FORMET

PARTNERSHIP & PRIVET LIMITED FORM

COMPANY KYC ::
  • COMPANY PAN CARD
  • 51% SHARE HOLDING LIST
  • IOC , MOA OR PARTNERSHIP DEED
ALL - DIRECOTERS OR PARTNERS KYC ::
  • ID PROFF – PAN CARD
  • ADDRESS PROFF – ADHAR CARD / PASPORT / UTILITY BILL / VOTER CARD (Any of one)
  • PASPORT SIZE PHOTO
51% SHARE HOLDING DIRECOTERS OR PARTNERS INCOME DOCUMENTS ::
  • LAST 2 YEAR- ITR & COMPUTATION
  • LAST 2 YEAR - PROFIT & LOSS AND BALANCE SHEET
ANEY OF ONE DIRECTOR OR PARTNER OWNERSHIP PROFF ::
  • ELECT BILL / WATER BILL / HOSE TAX RECEPT / GAS LINE BILL
BUSINESS DOCUMENTS :: REGISTRATION + VINTAGE + ADDRESS PROFF –
  • GST CERTIFICATE- COMPALSORY
  • TIN NO
  • CURRENT ACCOUNT- (AS ADDRESS PROFF ONLY)
COMPANY INCOME DOCUMENTS ::
  • LAST 2 YEAR- ITR & COMPUTATION
  • LAST 2 YEAR - PROFIT & LOSS AND BALANCE SHEET
  • LAST YEAR – DEBATERS & CREDITORS REPORT
  • LAST 2 YEAR – AUDIT REPORTS , 3CB & 3CD
BANK STATEMENTS ::
  • LAST UPDATED 12 MONTHS ALL CURENT BANK STATEMENTS IN PDF FORMET

Loan ?


A bank loan may be obtained from a bank and may be either secured or unsecured. For secured loans, banks will require collateral, which may be lost if repayments are not made. The bank will probably wish to see the business’s accounts, balance sheet and business plan, as well as studying the principals' credit histories. Many smaller businesses are now however turning towards Alternative Finance Providers, especially in the case of smaller firms.

Loans from credit unions may be referred to as bank loans as well. Business loans from credit unions received the second highest level of satisfaction from borrowers after loans from small banks

Get A Quote


Start 15% 2+0.50% 50 lakh 36 month Apply now
Start 15% 2+0.50% 50 lakh 36 month Apply now
Start 15% 2+0.50% 50 lakh 36 month Apply now
Start 15% 2+0.50% 30 lakh 36 month Apply now
Start 15% 2+0.50% 40 lakh 36 month Apply now
Start 17% 2+0.50% 30 lakh 36 month Apply now
Start 16% 2+0.50% 30 lakh 36 month Apply now
Start 14% 2+0.50% 35 lakh 36 month Apply now
Start 19% 2+0.50% 20 lakh 36 month Apply now
Start 19% 2+1% 30 lakh 36 month Apply now
Start 20% 2+0.50% 10 lakh 36 month Apply now
Start 15% 2+0.50% 50 lakh 36 month Apply now
Start 16% 2+0.50% 30 lakh 36 month Apply now

Business Loans

Personal Loan

Financial Flow is the life blood of any successful organisation. Most businesses will need a large amount of working capital to start up a new business or enable the rapid growth of an existing business. Scaling up always requires a influx of finances. Which is why, we go to all lengths to ensure that we can disburse a loan that can help you take your business to the next level. Business loans are very special to Andromeda and we have been helping our customers scale to new heights of success by helping them finance their dreams for their enterprises. While a personal is given on a personal capacity and income, a business loan is given based on company’s income and capacity and is given in the company’s name.


Business loans are categorized broadly into following 2 segments.
  1. Secured Business Loans: A 3 year term loan for proprietorship, partnership, private limited companies and limited companies based on a sound balance sheet.
  2. Unsecured Business Loans: Working capital funding in rupees as well as foreign currency for proprietorship, partnership, private limited companies and limited companies.

Unsecured Business loans

Unsecured Business Loans are loans taken by the borrower to start or enhance a business without any collateral. The borrower need not pledge any of his property or asset. There are many banks like HDFC, SBI, etc. that provide you unsecured business loan in India and of course many financial services too like karvy financial services, cholamandalam financial services, indiabulls financial services etc.

WAY2BANKLOAN – India’s largest loan distributor brings the best deals for you.

Question 1: Starting a business OR need to enhance your business?
Question 2: Looking for a loan?

If the answers to both the above questions are ‘Yes’, then look for WAY2BANKLON. We can help you avail unsecured business loans with no collateral, minimal paper work and quick approvals, 3 year term loan for proprietorship, partnership, private limited companies and limited companies based on a sound balance sheet. The eligibility criteria for unsecured business loan differ from bank to bank. However most often they consider the below factors:

  1. Age – Most banks disburse business loans to individuals aged between -- to -- years.
  2. Current Business Experience – Banks will prefer that your business has been showing stable signs of growth at least for the last 3 years. Some banks give a loan amount up to 60 to 80% of your median annual profits.
  3. Total Business Experience – A bank will prefer if you have been engaged in sustainable business for at least 5 years to consider giving you a loan.

Working Capital for Business: Financial Services offers unsecured loans for your business needs. If you fall under the eligibility criteria and submit the relevant documentation you can get going with business loan without risking your assets and running business in constant fear of repayment of loan.

TIPS

  • Always have an appropriate estimate of the working capital.
  • Compare business loan from various banks. The eligibility criterion varies from bank to bank and so also the procedures and formalities.
  • Please remember that the interest rates on unsecured business loans are always higher when compared to the secured business loans.
  • Get a quote on the loan by filling in and submitting the details from free quote.
  • You will need good credit reports / CIBIL score while applying for a loan. This is by far the main criteria to be eligible for a business loan.

Top 3 private banks that have healthy loan growth as per an article from www.business-standard.com are ICICI, Axis and HDFC Banks.

ICICI Bank offers short-term unsecured finance
  • Available at reasonable cost to selected dealers of large corporates, extended for procurement of goods from corporates.
  • Commonly available on a non-recourse basis, with corporate recourse available by way of First Loss Deficiency Guarantee in some cases.
  • Service Charges – 0% – 2% plus applicable service taxes
HDFC unsecured business loan
  • Loan limits of up to Rs.10 lakh
  • Doorstep service
  • With competitive interest rates
  • Special offer for self-employed Doctors
  • Attractive interest rates
AXIS BANK
  • Competitive interest rates
  • A vast segment of products suiting every requirement and budget
  • Convenient, quick disposal of loans for your enterprise requirements.
Compare the best deals from Banks offering Unsecured Business Loans or simply get a free quote by providing us the required details.
Frequently asked questions on Unsecured Business loan approvals.
  1. What Is Your Approval Rate?
    The approval rate is high if you fall under the eligibility criteria.
  2. Is There a Fee To Have business loan Released?
    No.
  3. How Long Does It Take to Get Approved?
    Approvals can happen in a matter of days.
  4. How Long Does It Take To Get The Funds?
    Processing of the loans usually take 4 working days after all the documents are submitted.
  5. Can I Pay the Loan Back Early?
    Yes. You can pre-pay the loan after repaying a min. of 6 EMI’s. Foreclosure charges would be applicable as per the banks term and condition.

Business Loan Eligibility Criteria

Most banks have a common set of parameters that they evaluate loan applicats with, but what exactly these parameters are depends from bank to bank.

Age

Most banks will disburse business loans to individuals aged between 24 to 65 years.

Current Business Experience

Banks will prefer that your business has been showing stable signs of growth at least for the last 3 years. If you can show sustained billing and revenues and top it off with profit, getting a business loan should not be a problem for you. Some banks give a loan amount up to 60 to 80% of your median annual profits.

Total Business Experience

A bank will prefer if you have been engaged in sustainable business for atleast 5 years to consider giving you a loan. Your diversity in terms of business experience and so on along with good results will help you acquire your business loan.

REQUIRMENT DOCUMENTS

The following documents are required along with your Business Loan application:

SALE – PROPRITERSHIP FORM

KYC ::
(CO-APPLICENTS KYC REQUIRED IF APPLICANT IS LESS THEN 25 YEAR MORE THEN 60 YEAR , IF APPLICANT IS FEMAL)
  • ID PROFF – PAN CARD
  • ADDRESS PROFF – ADHAR CARD / PASPORT / UTILITY BILL / VOTER CARD (Any of one)
  • PASPORT SIZE PHOTO
OWNERSHIP ::
  • ELECT BILL / WATER BILL / HOSE TAX RECEPT / GAS LINE BILL
BUSINESS DOCUMENTS :: REGISTRATION + VINTAGE + ADDRESS PROFF –
  • GST CERTIFICATE- COMPALSORY
  • TIN NO
  • CURRENT ACCOUNT- (AS ADDRESS PROFF ONLY)
INCOME DOCUMENTS ::
  • LAST 2 YEAR- ITR & COMPUTATION
  • LAST 2 YEAR – PROFITS & LOSS AND BALANCE SHEET
  • LAST YEAR – DEBATERS & CREDITORS REPORT
  • LAST 2 YEAR – AUDIT REPORTS , 3CB & 3CD – IF BUSINESS TOURN OVER MORE THEN 2 CR OR FORM AUDITED
BANK STATEMENTS ::
  • LAST UPDATED 12 MONTHS ALL CURENT BANK STATEMENTS IN PDF FORMET

PARTNERSHIP & PRIVET LIMITED FORM

COMPANY KYC ::
  • COMPANY PAN CARD
  • 51% SHARE HOLDING LIST
  • IOC , MOA OR PARTNERSHIP DEED
ALL - DIRECOTERS OR PARTNERS KYC ::
  • ID PROFF – PAN CARD
  • ADDRESS PROFF – ADHAR CARD / PASPORT / UTILITY BILL / VOTER CARD (Any of one)
  • PASPORT SIZE PHOTO
51% SHARE HOLDING DIRECOTERS OR PARTNERS INCOME DOCUMENTS ::
  • LAST 2 YEAR- ITR & COMPUTATION
  • LAST 2 YEAR - PROFIT & LOSS AND BALANCE SHEET
ANEY OF ONE DIRECTOR OR PARTNER OWNERSHIP PROFF ::
  • ELECT BILL / WATER BILL / HOSE TAX RECEPT / GAS LINE BILL
BUSINESS DOCUMENTS :: REGISTRATION + VINTAGE + ADDRESS PROFF –
  • GST CERTIFICATE- COMPALSORY
  • TIN NO
  • CURRENT ACCOUNT- (AS ADDRESS PROFF ONLY)
COMPANY INCOME DOCUMENTS ::
  • LAST 2 YEAR- ITR & COMPUTATION
  • LAST 2 YEAR - PROFIT & LOSS AND BALANCE SHEET
  • LAST YEAR – DEBATERS & CREDITORS REPORT
  • LAST 2 YEAR – AUDIT REPORTS , 3CB & 3CD
BANK STATEMENTS ::
  • LAST UPDATED 12 MONTHS ALL CURENT BANK STATEMENTS IN PDF FORMET

Loan ?


A bank loan may be obtained from a bank and may be either secured or unsecured. For secured loans, banks will require collateral, which may be lost if repayments are not made. The bank will probably wish to see the business’s accounts, balance sheet and business plan, as well as studying the principals' credit histories. Many smaller businesses are now however turning towards Alternative Finance Providers, especially in the case of smaller firms.

Loans from credit unions may be referred to as bank loans as well. Business loans from credit unions received the second highest level of satisfaction from borrowers after loans from small banks

Get A Quote


Start 15% 2+0.50% 50 lakh 36 month Apply now
Start 15% 2+0.50% 50 lakh 36 month Apply now
Start 15% 2+0.50% 50 lakh 36 month Apply now
Start 15% 2+0.50% 30 lakh 36 month Apply now
Start 15% 2+0.50% 40 lakh 36 month Apply now
Start 17% 2+0.50% 30 lakh 36 month Apply now
Start 16% 2+0.50% 30 lakh 36 month Apply now
Start 14% 2+0.50% 35 lakh 36 month Apply now
Start 19% 2+0.50% 20 lakh 36 month Apply now
Start 19% 2+1% 30 lakh 36 month Apply now
Start 20% 2+0.50% 10 lakh 36 month Apply now
Start 15% 2+0.50% 50 lakh 36 month Apply now
Start 16% 2+0.50% 30 lakh 36 month Apply now

Apply For Business Loan

Now apply for a Business Loan online, All you need to do is provide your details below application form.

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