Here's How You Can Get a Business Loan from NBFCs:


Businesses prefer NBFCs for availing of funds because of the flexible loan terms and the attractive interest rates offered. It also allows business owners to choose a loan that fits their needs and purpose.

NBFCs offer a hassle-free and stress-free loan experience to borrowers. With the availability of online loans offered by such companies, businesses have the advantage of accelerating their processes and growth without any hiccups. 


Eligibility Criteria for NBFC Loan

NBFCs have some eligibility criteria to access a borrower’s application. Here are the common ones:

  • The business should show a positive and growing trend in turnover.

  • A minimum annual income should be met. 

  • The age of the applicant should be between 22-62 years. 


Documents Required:

It is important to keep the documents ready for speedier approval. 

  • GST returns

  • Income tax returns

  • Bank statement

  • KYC documents of business owners

  • Business continuity proof

  • Copy of the filled application forms


Types of Loans Available with lenders:

Every business requires funds to meet its objectives. Here are some types of Business Loans available that you can apply for as per your needs:


Unsecured Business Loan

Unsecured Business Loans are Business Loans without the need for pledging collateral. There is no requirement of a business plan to avail of this loan. 


SME Loans

SME loans are approved keeping the business turnover, credit score, and worker strength in mind.


MSME Loans

MSMEs are loans for micro and small enterprises. 


Machinery loans

These loans are required to buy equipment and machinery. 


Overdraft loans

Overdraft loans are unsecured loans and are given to borrowers who require money for cash and other daily operations expenses.


Working capital Loans

Working capital is the money needed to carry out operational expenses, which include raw materials and hiring logistics services. 


Look for an NBFC that offers the kind of loans that your business needs and apply right away!

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