Business Growth Loan
Apply for instant business loans up to 2 crore at competitive interest rate for manufacturing, trading or services. Special schemes are available for women entrepreneurs, young start-ups and existing small business. Check your business loan eligibility and applicable business loan interest rate using online calculator.
The best offers from India’s most trusted banks
Business Loan Offers
Explore a range of tailored business loan offers designed to meet your company’s financial needs. Access competitive rates and flexible terms to fuel your business growth.
Get high business loan eligibility
Before applying for the loan, prepare a business plan, know your credit score, decide the loan amount, do some market research on available business loan options, and keep the documents ready.
Common documents required
Proof of address & photo identity proof of the promoters, business proof, income proof, partnership deed for partnership firm, articles of association, memorandum of association, board resolution, PAN card, etc.
Criteria for business loan approval
Applicants should be aged between 21 to 65 years, having business vintage of a minimum of 3 years. The minimum business turnover and a minimum annual turnover as per the ITR will be required. The business should be profit-making for at least the last 1 year.
Learn More About
Business Loans
- Purpose: Business loans are provided to meet business-related needs such as expansion, equipment purchase, and working capital management.
- Loan Amount: The loan amount varies based on the business size, revenue, and credit history, ranging from a few thousand to several crores.
- Collateral: Business loans may be secured or unsecured depending on the lender's terms and the applicant's financial profile.
- Flexible Repayment: Repayment terms typically range from 12 months to 5 years or more, offering flexibility based on the business’s cash flow.
- High Loan Amount: Depending on eligibility, businesses can avail of loans ranging from ₹50,000 to several crores.
- Quick Disbursal: Many lenders offer quick approval and disbursal, ensuring that businesses can access funds promptly.
- Term Loans: Long-term loans used for capital expenditure like purchasing equipment or expanding operations.
- Working Capital Loans: Short-term loans used to manage day-to-day operations and cash flow.
- Overdraft Facilities: A credit facility that allows businesses to withdraw more than their account balance, up to a set limit.
- Business Vintage: The business should have been operational for at least 2-3 years.
- Annual Turnover: Lenders may require a minimum annual turnover for loan eligibility.
- Credit Score: A good credit score is essential to securing better interest rates and loan amounts.
- Business registration proof
- Last 2-3 years' financial statements
- Bank account statements for the past 6-12 months
- Income Tax Returns (ITR) of the business for the last 2-3 years
- Identity and address proof of the business owners
- Processing Fees: Typically ranges from 1% to 2% of the loan amount.
- Prepayment Charges: Some lenders may charge a penalty for early loan repayment.
- Late Payment Fees: Penalties may apply for delayed payments beyond the due date.
- Maintain a high credit score by paying off existing debts on time.
- Improve your business's annual turnover and profitability to increase loan amounts.
- Ensure all business financial statements and tax filings are up to date.
- A higher credit score ensures better loan terms, lower interest rates, and faster approvals.
- Lenders use the credit score to assess the borrower’s financial discipline and risk level.
- Credit scores of both the business and its owners may be considered in the loan evaluation process.
- Lenders assess your business’s annual turnover, profit margins, and outstanding debts to determine loan eligibility.
- Business credit history, owner’s credit score, and financial stability play key roles in calculating the loan amount.
- Many lenders allow part-payment, which helps businesses reduce their interest burden by paying off a portion of the loan early.
- Part-payment terms and conditions vary by lender, and some may charge a small fee for this facility.
- Repayments can be made through Electronic Clearing Service (ECS), Post-Dated Cheques (PDC), or online payments.
- Installments may be monthly or quarterly, depending on the loan agreement with the lender.
- Yes, many lenders offer an overdraft facility by accepting immovable property, such as land or buildings, as collateral.
- This provides a flexible credit line, allowing businesses to withdraw funds as needed, up to a set limit.
- Repayment periods can range from 12 months to 7 years or more, depending on the loan type and lender’s terms.
- For long-term loans, repayment can be extended to suit the business’s financial capabilities, ensuring manageable installments.
