Business loan is the primary unsecured type of funding, designed to meet daily business requirements of entrepreneurs, individuals, micro small, medium and large enterprises. Borrowers are not pressurized to submit any collateral or security to avail unsecured business loan.

Business loans can be used for business expansion purposes, manage cash flow, buy equipment or machinery, hire and train staff, purchase raw materials, upgrade inventory and more. Small business loans are also available for MSMEs and startups. There is no minimum loan limit criteria to borrow, whereas customers can avail collateral-free business loans up to Rs.1 crore with flexible and customized repayment options.

If you take a loan for new business from a bank or lender, you shall receive a lump sum amount that you need to repay in a defined period of time that is in form of EMIs, at an interest rate that can be fixed or floating rates. There is no minimum loan amount criteria to borrow and the maximum loan amount can go up to Rs. 1 crore, Depending upon business requirements. The repayment tenure ranges from 12 months to 5 years. In some case the repayment tenure may exceed as per the sole discretion of the lender.