What is a Small Business Loan, and How Much Can One Borrow ?
A small business loan is a financial offering that can be borrowed to meet your planned and unplanned small business expenses. It is a kind of unsecured financing, and you can avail of one without providing any collateral.
You can get a business loan of up to Rs. 50 Lakh from Bajaj Finserv by fulfilling the easy-to-meet eligibility criteria. A list of documents as your business proof will be then required to submit. Your application is approved; you can get the loan amount in your bank account within 24 hours. According to terms and conditions of Bajaj Finserv.
What is the Best Loan for Business ?
Top 5 Government Business Loan Schemes in India 2022
- MSME Loan in 59 Minutes.
- Pradhan Mantri MUDRA Yojana (PMMY).
- Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGFMSE).
- National Small Industries Corporation (NSIC).
- Credit Linked Capital Subsidy Scheme (CLCSS).
How Much Loan Can You Get for Starting a Business ?
Startups can avail of a business loan between Rs 50,000 to Rs 50 lakhs at competitive interest rate.
Compare the Best Bank for Small Business Loan Between Top 12 Banks
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Who is Eligible for Business Loan ?
Those whose business has been profit making from the previous 2 years. The business should have a Minimal Annual Income (ITR) of Rs. 1.5 lakhs per annum. The applicant should be at least 21 years at the time of applying for the loan, and should be no older than 65 years at the time of loan maturity.
How to Apply for Small Business Loan ?
Applying for a business loan from Bajaj Finserv is easy. Start by clicking on the Apply Online button on this page and open the online application form. Enter your basic details and verify your profile with the OTP sent to your phone.
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