What is a Business Loan?

You might be eligible to apply online for a business loan at JMD Finance if your company has been operating for at least two years. You might need more money to cover business-related expenses, operations, investments, and other fees. You might take out an unsecured business loan to cover these expenses. You can look at our website for loans, as we present the top banks and NBFCs in India that offer funds.

Individual Loan Up to Rs. 1 crore in money are available to you. The starting interest rate is 13%. To obtain fast quotes, compare leading banks and non-banking financial companies (NBFCs) before applying for a business loan online. There is no requirement to provide collateral or security to the banking institution.

You can get funds up to Rs. 1 crore. Interest rate starts at 13%. Apply for business loan online by comparing top banks/ NBFCs (non-banking financial company) to get quick quotes. No need to submit any security or collateral to the financial institute.

Why Choose a Business Loan?

If you generate returns on capital more than the actual loan payout, then you can consider applying for a business loan. You can take the loan for meeting innumerable expenses which are critical for your business. Some of the reasons why you may want to choose business loan in India are as follows:

To increase  profits or revenue , you need to invest in timely manner. If you do not have sufficient funds to expand your business or invest in it, you can apply for funds.

Sometimes you may need  business loan for peak seasons to make the most of seasonal trends that help in growth of your organization.

You can take funds to upgrade or add to the facilities, equipments, premises etc.

To get your application approved, you have to submit all the necessary documents. Know which are the documents required for business loan before you apply for the funds.

Understand all the terms and conditions for business loan online, such as interest rate, additional charges, repayment tenure, loan amount, etc.

Features and Benefits of Business Online Loans

Some of the key points and benefits of business loan at JMD Finance are as follows:

You can borrow a minimum of Rs. 1 lakh as collateral free business loans and Rs. 1 crore as the maximum loan amount.

The funds can be only used for business related purposes.

The tenure is between 1 Year and 5 years.

There are suitable loan amounts available for small and medium sized enterprises as well, besides large-scaled businesses.

We offer easy and simple online application and paperless process for business loan India.

Interest rate depends on your profile and other factors, but starts at 13%.

You can have co-applicants for the loan to improve your chances of getting the loan approved.

This loan can have co-applicants, which can help raise the approval chance for the loan.

Eligibility Criteria for Business Loan Online

If you want to choose “online business loan apply” service, then you can consider JMD Finance. But, before applying, do go through some of the important eligibility criteria for business loan.

• You should be able to meet minimum business profit and turnover requirement per annum, as given by the financial institute.
• Your age should be between 21 years and 65 years till the loan completion.
• The business must have at least been in existence for 2 years.
• The loan can be provided to self-employed individuals, manufacturers, service providers etc, or the application can also come from private limited or limited company.
• You need to submit Income Tax Return statement of the past 2years.

Documents Required to Apply for Business Loan

• If you want to apply for unsecured business loan, then do go through the following documents you have to submit.
• Identity proof such as PAN Card, Voter ID card, Aadhar Card, etc.
• Ownership proof of possessions utilized for business purposes
• Bank account statements, practice certificate etc.
• Last 2 years income taxstatements
• Your KYC documents and that of the co-applicant
• Recent passport size photographs and residence proof

Business Loan Interest Rates in India

The interest rate of business loan India will vary from a financial institute to other; however, it is based on some crucial factors given below:

• Your age and profile
• Your Credit score
• Company’s and your financial position
• The chosen loan scheme
• In case of secured business loans, the security submitted
• Your relationship with the fund providing bank or NBFC