Key Highlights
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Capital Funding made affordable
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Expert Guidance to Business Financial Planning
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Hassle-Free Unsecured Loans
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Scale-up Funding for Start-ups, Proprietorship & Partnership Firms, etc.
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No Collaterals
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Pre-Approved conditional Offers
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Quick Disbursal
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Easy repayment options
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Get offers from 25+ Banks/NBFCs for your Business Loan requirement.
What is a Business Loan?
A Business Loan is a type of unsecured short, medium, or long-term loan often taken by individuals and enterprises to start, revamp or expand a business i.e. invest in Plant & Machinery, inject Working Capital, Enhance Business Cash Flow, Take up a project, etc.
With multiple Banks and NBFCs offering Business loans starting INR 10,000 and exceeding up to INR 50 Crores (Secured Loan), businesses and enterprises can choose multiple options of Business Loans to suit their funding needs.
Are you Eligible for a Business Loan?
A Business loan is granted to individuals and businesses alike. Banks and NBFCs (Non-Banking Finance Companies) offer Business Loans to Start-ups, Small and Medium Enterprises, artisans, retailers, manufacturers, traders, Sole Proprietorship Firms, Partnership Firms, NGOs, Trusts, Co-Operative Societies, and even Self-Employed Individuals/Professionals i.e. Doctors, CAs, Designers, Architects, etc.
Business loan interest rates
Business loan interest Rates vary from Bank to Bank.They are calculate based on the Credit Rating of the Individual, Business Viability, Loan Amount, Tenure, etc.Here are the interest rates of some of the leading Banks and NBFCs.
Business Loan Eligibility with Top Banks/NBFCs
| Age |
Minimum 18 years at the time of Loan Application & Maximun 65 Years at the time of maturity |
| Citizenship |
Indian Citizen with no criminal background |
| Operations |
An Established Business/Profession that has been in operations for 6 months |
| Turnover |
Minimum turnover of INR 90,000 or more in 3 months precending the loan application |
| Banks | Interest Rates |
|---|---|
| HDFC Bank | 13% |
| ICIC BANK | 13% |
| HDB Financial Services Ltd. |
18% |
| Hero Fincorp | 18% |
| Kotak Mahindra Bank | 18% |
| Apply |
Documents required for Business Loan
Banks and NBFCs have specific guidelines on the documents required for Business Loan. These include:
- 1. Identity Proof - Personal Identity documents of the Individual/Professional running the business like PAN Card, Voter Card, Aadhar Card, Driving License, Passport, etc.
- 2. Address Proof - Bank Account Statement, Electricity Bill, Property/Rent Agreement, Driving License, Aadhar Card, etc.
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3. Business Proof - The documents depicting proof of Business i.e.
- a) Business Registration Certificate - Documents like Partnership Deed, Certificate of Practice, COI, MOA & AOA, GST Registration, etc.
- b) Financial Statements - P&L Accounts, Balance Sheet, and Cash Flow Statements.
- c) Licenses - Trade License, Drug License, etc.
How to apply for Business Loan at Loan Ki Dukaan?
Loan Ki Dukaan is dedicated to uplifting Small and Medium Enterprises. Applying for a Business Loan is a quick and easy process. After you log in to the website, click on the 'Business Loan' button, and follow the steps:
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Your Personal Details
Enter Your Details like Name, Business/Profession, Turnover/ Yearly Sales, Mobile Number, etc., along with the expected/ required loan amount, etc., and fill in /Upload the additional details required.
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Compare and Select
A list of Business Loan Offers from the best of Banks/NBFCs suited for your profile will be displayed after verification.
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Apply for Loan
Apply for the loan online and get conditional e-approval. A team member from Loan Ki Dukaan will guide you through the documentation process.
How is your Business Loan EMI calculated?
Taking up a Business Loan isn't just about adding capital to the business, but also about redefining its Capital Structure and related costs. It is always better to understand your Business Loan EMI amounts before applying for the Loan – It boosts Business Finance.
Loan Ki Dukaan has a Business loan EMI Calculator to help you calculate the EMI amount instantly as per your Loan Amount, Tenure, Interest Rate, etc. This helps in informed decision making and selecting the best Business loan offer.
Look at the table below to understand how Business Loan EMIs are calculated.
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Loan Amount
5 Lakhs
10 Lakhs -
Interest rate
16%
16% -
EMI for 1 Year
LoanINR 45,365
INR 90,730 -
EMI for 2 Year
LoanINR 24,481
INR 48,963 -
EMI for 3 Year
LoanINR 17,587
INR 35,157
Business Loan Verification Process
Loan Verification for Business Loans involves key steps:
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Applying for the Loan
Once you make a Business Loan Online Application on Loan Ki Dukaan, your chosen lender receives your loan application.
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Document Pickup And Verification
Lender's representative contacts you for verification of the Business Loan e-application, and arrange for pickup of documents required for the loan application. Lender's representative may visit the Registered Office of the business to verify business presence and operations.
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E-approval of Loan
Once the application and documents are collected, verified, and checked. The loan is approved, if and when the eligibility criteriaare met.
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Loan Disbursal
Loan is disbursed upon confirmation and signing of the loan agreement.
How is your Business Loan disbursed?
Once the Business Loan is approved and sanctioned, the disbursal takes 2-3 days. Banks or NBFCs usually disburse loans through Direct Transfer of Funds. The Loan Amount is directly transferred to the Current Bank Account of the specified Business or Individual.
FAQs
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Can a student apply for a Business Loan?
As Business Loans are extended based on the Turnover of the Business, credit score, etc, anyone above the age of 18 is eligible for a Business Loan. If a student (above the age of 18 Years) has established a credible business with good turnover, they can avail Business Loans from Banks/NBFCs.
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What are the other charges of Business Loan, besides interest rates?
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Can I use the Business Loan for Personal purposes?
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What happens if I miss an EMI payment?
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I already have a Business loan from a bank, will I get another one from another bank?
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Is there any special scheme offered by Banks/NBFCs for Women Entrepreneurs?
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What are the Loan Schemes initiated by the Government of India
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Why should I apply for Business Loan at loankidukaan.com?