Here’s how to get a Business loan in 4 easy steps
Submit a simple application in 2 to 3 minutes
Upload your most recent bank statements
Know your loan eligibility instantly
Get your money in as fast as 1 business day*
Running your own business is tough because you have to constantly monitor your finances to keep the show, up and running. Mostly, small, and medium businesses turn to banks and NBFCs to fulfill their financing needs. Small business loans come to the rescue of business owners by meeting their varied interests ranging from investment in the business to buying new machinery, expanding the operations, or managing the working capital. Today, business loans are customized as per the requirement and designed to meet the objectives of a new-age business or start-up. Business loans in India give you an upper edge, letting you thrive in the face of competition.
What are the features of unsecured loans from SMEcorner?
SMEcorner offers customized unsecured business loans to meet the requirements of small and medium business owners across India. We offer loans that are easily sanctioned without any hassles and do not get stuck at any stage of loan processing. Our loans get instantly processed after you apply for a business loan online. The application process has been kept fairly simple to avoid any confusion so that the loan can be approved and disbursed without any unnecessary delays. Our Unsecured Business Loan is an SME financing instrument that specifically caters to the sudden needs of your growing businesses.
Our strong digital interface makes processing faster, ensuring a smooth and hassle-free unsecured business loan for business owners.
You get the chance to avail of a business loan that offers a cushion to your business needs ranging from expansion to growth. You can avail an unsecured business loan at any stage of your business.
Any business can compete and make a mark provided you have the right financing needs which can be accessed at the right time. Try to determine the urgency of a business loan before you proceed with a loan. Make sure you have a clear idea about how to put the funds in use and manage the flow of money into the business. Once it is clear, just approach us to take the first step towards achieving success for your business and growth. We are always there to support your businesses and legacy. So, just take the above steps and reach us to apply for a business loan.
Here are the reasons why you should apply for a Business Loan from SMEcorner
Smooth and hassle-free business loan processing
You can avail an unsecured business loan ranging from Rs 50,000 to Rs 25 lakh. With the online application and quick disbursal system, our minimal loan processing time becomes a key highlight for many SMEs that are struggling to get a loan within a specified time. The digital interface has made the entire process hassle-free thereby offering loans on time.
Collateral free loan
Most business owners seeking a loan are asked to arrange for collaterals. We understand the requirement of business loans and how the absence of collateral can damage the prospects of your loan. Here we make sure that your valuable assets are not put at risk. Our unsecured business loan is the solution for your business needs if you don’t have any collateral or security to offer. So, you can remain free from worries as you expand your business.
Best interest rates
Even if the loan gets processed, you may get trapped in the interest rate cycle but SMEcorner offers the best interest rate possible for your business. So, you can be assured of the rate of interest offered by us.
Extended Loan Tenure
We offer a business loan from 12 months to a maximum of 36 months. We cater to every small and big need of your business, depending on the urgency of funds.
We have a transparent structure and don’t keep any costs and charges hidden. Our processing fee depends upon the loan and can be between 18%-34%. We give you a clear idea about charges before any unsecured business loan is processed. If you have a plan to repay the loan, then you have to pay pre-closure charges of up to 4%.
Lastly, the most important component of a loan is the repayment process. SMEcorner ensures that business loans are repaid in monthly EMIs. The EMI options are designed to cater to the pace of repayment that suits you considering your invoicing and sales cycles.
Find out the business loan eligibility criteria
As we understand the necessity of a business loan, we have ensured that the eligibility criteria only list the components which make the process of business loans smoother. You have to submit certain documents to be able to help us process the loan. Here is the checklist for your documentation. At any point, if you are unable to determine the requirements, you can contact us to confirm your eligibility with us.
- The business applying for a loan should be in operation for more than three years.
- Minimum turnover of ₹25 lakh will help you in getting the business loan
- Trusts, NGO’s, and Charitable Institutions are not eligible for small business loans.
- Also, we need to ensure that there are no delays or defaults in past payments and the business is tax compliant as well.
- It becomes easier for us to determine your business needs in case you have already received a new credit line.
- It makes the process of loan approval easier if you have a self-owned property.
- Lastly, a business loan with a CIBIL score can get the loan processed faster.