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10 Cr

Maximum Loan Amount

20 Years

Max Loan Tenure

0 - 0.25%

Processing Fees

About Business Loan

To help enterprises, SMEs and startups grow in size and revenue, RedyMoney ensures lending hassle-free business loans. By providing instant access to funds, we aim to strengthen the working capital of businesses in need.

We help businesses across multiple verticals to expand and execute their processes most feasibly.

Compare Personal Loan Offers

Lender Estimated APR Min. Credit Score Available Terms Monthly Payment

5.90%-15.24%

Estimated APR

660

Min. Credit Score

3 to 7 Years

Available Terms

$300

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5.99%-18.99%

Estimated APR

640

Min. Credit Score

3 to 6 Years

Available Terms

$334

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6.99%-24.99%

Estimated APR

620

Min. Credit Score

3 to 5 Years

Available Terms

$358

Apply now

5.96%-35.97%

Estimated APR

610

Min. Credit Score

3 to 4 Years

Available Terms

$300

Apply now

5.36%-32.97%

Estimated APR

630

Min. Credit Score

3 to 5 Years

Available Terms

$300

Apply now

6.99%-24.99%

Estimated APR

620

Min. Credit Score

3 to 5 Years

Available Terms

$358

Apply now

Types of Business Loan

Working Capital Loans

Company suffers without funds availability at the right time. Understanding this, leaders provide your business loan requirement with Working Capital, which helps maintains healthy cash flow and will allow your business to run smoothly.

Machinery Loans

Meeting bulky orders require the right machinery or equipment. So, if you plan to install or upgrade, Machinery loans, provides secured funds, and gives your business a right boost towards productivity.

SME and MSME Loans

Grow your operations efficiently. Get right funds transferred and promote your business in terms of finance, infrastructure and other areas of concern with the unsecured loans. Trust us and have the growth you deserve.

Business Loan Features and Benefits

All loans are not created equal, Business Loan has become a great option for people to use.

Maximized Loan Amount with Flexible Tenure

Collateral free Business Loans are offered from an amount of ₹50k to ₹2Cr, loan tenure extends between 12 to 60 months.

Business Cash

Increased business cash flow

Cover the gaps quick, flexible and affordable. Cash flows are important and need timely management.

HL_zero-prepayment

Lowest Business Loan Interest Rates

Interest differs with lenders. Connect your Business loan demands with lenders offering lowest interest rate.

hassle-free loan

Hassle-free Loan Processing & Disbursal

Apply for a business loan online, and we will ensure, fast turnaround time over your business finance.

Business Loan Eligibility Criteria

Business loan allows you finance your business needs without having to wait for longer. However, to secure funds you need to fulfill eligibility criteria based on few simple parameters. Bank assess your profile and repayment capacity on following factors.

Resident Type

Resident Indian/NonResident India (NRI)/Person of Indian Origin (PIO)

Age of the applicant

The applicant must be in between 21 (during application) – 65 (during loan maturity) years of age.

Credit Score

650 or above with a good credit history

Eligible Entities

To apply business loans applicants can be a Proprietor/Partnership Firm/Private or Public companies/LLP (Manufacturing/Trade/Services).

Business Vintage

To fulfill business loan eligibility criteria, the business must have a profitable track record of operating at least for 2 years.

Business Income

To apply for business loans, your minimum turnover should be INR 40Lacs.

(Note: The above-mentioned Business loan Interest rates, fees and charges are subject to change with different lenders)

CHECK YOUR ELIGIBILITY AMOUNT

Documents Required for Business Loan

Make sure you keep below listed documents ready while processing your Business Loan Application.

  • Pan Card
  • Driving License
  • Passport
  • Voter’s ID card
  • Aadhaar Card
  • Passport
  • Driving License
  • Voter’s ID card and Aadhaar Card
  • Utility Bill
  • Lease Agreement (if property is rented)
  • Agreement Copy (Sales Deed)
  • Electricity Bill
  • Index 2
  • Property Tax Receipt
  • Water Bill
  • Incorporation Certificate
  • Partnership Deed
  • Memorandum of Association & Articles of Association (Duly signed)
  • Company PAN card
  • Balance Sheet and Profit & Loss Account (Of the last 2 FY), duly audited by the Chartered Accountant
  • Income Tax Return – ITR
  • GST Return
  • Bank Statement (Last 6 months)
  • Loan’s Sanction letter
  • Loan Account Statement (last 12 months)
  • Loan Closure letter or NOC from the lender (if repayment made within the last 3 months of a new loan application)

Note: Above listed documents may differ with different lenders.

Business Loan Interest Rate and Charges

Charges Minimum Maximum
Interest Rate 14.99% 40%
Loan Processing Fees 1% 3%
Pre-payment in Part or Full charges 0.00% 5%

*NOTE: The above-mentioned Business loan Interest rates, fees and charges are subject to change with different lenders

KNOW ABOUT MORE CHARGES

Why Business loan?

Business loans help in –

  1. Business cash flow
  2. Purchasing and installation power for Machinery & Equipment
  3. Technology Upgrade
  4. Inventory Stock-up
  5. Intra and Inter-state expansion
  6. Scaling up towards opportunities

How to increase the possibility for Higher Business loans and faster approval?

  1. Ensure the documents to be correct during submission
  2. Keep your Credit/CIBIL score 650 or above
  3. Apply only after ensuring to meet the eligibility criteria
  4. Try and maintain better Bank records and financial information
  5. Ensure to avoid multiple Business loan applications
  6. Repaying your current debts with no single EMI bounce. Timely repayment history makes you eligible for higher/present-day loan.

Frequently Asked Questions (FAQs)

About Business Loan

A Business loan is defined as Unsecured credit designed for covering varied Business expenses associated with business expansions, renovation, equipment purchase, hiring new staff, or for marketing. A Business loan is taken either for Investments in new businesses or running of existing business set-ups. If a person fulfills the Business loan eligibility criteria, they can borrow money for a set purpose.

Applying online for Business loan is simple.

  1. Fill in the Online Business Loan Application form
  2. Submit the relevant documents for completing the process
  3. Get instant loan transferred to your bank account in 24 working hours or less.

Eligibility

Self-employed professionals and non-professionals, Entities are all eligible to apply for finance if they fulfill the eligibility criteria.

If you are applying for a business loan, CIBIL score of 750 is a healthy score. If your score is closer to 900, the chances of getting instant loans will be higher with good loan terms.

Businesses which hold the requirement for getting Business loan, they must have-

  1. Minimum 2 years Business vintage
  2. Applicant should be in between 21-65 years of age
  3. Latest 2 years Income Tax Return
  4. A good CIBIL score and a strong Credit profile are required.

Minimum turnover should be INR 40Lacs in financial year or a minimum income of INR 90,000 or more in 3 preceding months, will make your small business to apply for Business loan.

Yes, you can apply for unsecured business loans if you have a low credit score, but that will increase the Business loan interest rates you pay. It is advisable to improve credit score and then apply.

Understanding your demand for expansion, all business/enterprise types (irrespective of their size can apply for business loans). Business loans have been further extended to professionals too. Eligible entities for business loan are: Sole Proprietorship firms/ Private and Public limited companies/ Partnership firms/ Self-employed individuals/ Professionals- Chartered Accountants, Doctors, etc./ Retailers/ Manufacturers/ Traders.

Equated Monthly Installment - EMI

Use the Business Loan EMI calculator to know your per month Business Loan EMI. In the Business Loan EMI calculator, enter the details [Loan Amount, Desired Interest Rates (%), Tenure (Months/Years) correctly. Let the Business Loan EMI calculator provides your monthly repayment amount.

Yes, you can change the EMI payment dates. Some banks and NBFC’s charge a nominal fee for doing this.

Part payments paid get adjusted with the Principal amount. Lenders offer choices for reducing the Term Loans monthly EMI tenure or further EMI’s amounts as per your choice.

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