Unseucred Business Loan
Unsecured Business Loans is a great option when it comes to expanding your existing Business or starting something new of your own. There are some salient features of small Business Loan which you should know before applying for one, which includes the following
- Unsecured funding
- Maximum Term 48 months
- High Interest Rates
Eligibility for Business Loan
A person who is having a business with good profit can avail a business financing. The loan provider Bank have their norms for sanctioning the loan eligibility.
Mostly the following details are checked while processing the loan application.
- Type of the business : ie Proprietorship, Partnership, Pvt Ltd. or Public Ltd.
- Turnover of the business
- Cash flow of business
- Profit of the business
- Nature of Business and its customers
- End use of loan amount
Advantage of Bank Loan
Many Businessman directly apply with banks without knowing their products and eligibility calculation and at the end face rejections. Your loan advisor will provide you the full comparison of the best suitable products to meet your requirement.
Banks provide loan for:
- Raw Material Purchase
- Business expansion
- Immediate Business payment
- Plant & machinery purchase
- Funding new new Business
- HomeLoanDSA services are free and they get paid by the banks
- All the negotiating and paperwork is handled by a loan expert
- Loan agents have extended hours because they operate independently
- Choice of multiple Banks
How much is Maximum Limit?
Business loan eligibility depends on the annual profit of your business. Your business must have completed 3 years of profitable operation. Banks will also check the cash flow and other aspects of revenue generation.
One can apply for a maximum of Rs. 75 lakh. If you need long term funding for your business and with a higher amount then you should apply for a secured loan.