10 reasons why FlexiLoans is a top business loan lender

Introduction to business loans

A business loan is a type of loan which is specifically intended for business purposes. Similar to other types of loans, this loan also involves the creation of debt, which is repaid along with interest. Several business loans include asset-based financing, microloans, business cash advances, and cash flow loans. One of the top business lenders and a non-banking financial company, FlexiLoans offers business loans online packed with benefits. Hundreds of businesses have used Flexiloan’s financing solutions because of its safety and security, transparency, quick funding, and, most importantly, collateral-free. An online lending platform that started with the motive to solve the problems that small and medium enterprises (SMEs) face in accessing flexible, quick, and adequate funds for growing their businesses. Known for lending instant business loans, FlexiLoan’s vision is to give ‘loans at a click’.

Role of small and medium enterprises (SMEs) in our country and how loan providers can help them expand

SMEs form the backbone of most economies, particularly the developing ones like the Indian economy. They employ around 40% of India’s workforce, which on an average form 80 million people are given an opportunity for livelihood and employment via unskilled jobs. 45% of India’s manufacturing output and 40% of India’s total exports are contributed by SMEs. At 48 million, India has the second-largest number of SMEs globally, China being the first one with around 50 million SMEs. 31.7% of SMEs are engaged in manufacturing around 6000 products, while the remaining 68.2% deliver various services. According to some estimates, 600 million jobs will be required by 2030 to absorb the heightening global workforce, which makes SME development a high priority for many governments across the globe. If provided with the right support, this sector can expand industrial growth throughout the country. The international finance corporation (IFC) estimated 40% of formal micro, small and medium enterprises have unmet financial requirements of $5.2 trillion every year. The major challenge faced by Indian SMEs lies in their financing problems. Around 80% of loan proposals from SMEs are disapproved by financial institutions on account of inadequate collaterals or financial history. With the fast, dynamic, and ever-present digital adoption in India & increased paths to leverage data analytics, FlexiLoans stands on the edge of banking transformation in the country, which helps in serving the large unserved and untapped demand intelligently. A non-banking financial company (NBFC) registered with RBI. We aim at meeting the financial requirements of SMEs and provide business loans for SMEs who do not have credit history and hence cannot avail of loans. It also offers small businesses a better experience and gives borrowers a convenient, fast, and straightforward online application that improves the time consuming and frustrating loan applications process

Why should you consider FlexiLoans for your business loan?

FlexiLoans provide quick business loans without collateral to small and medium enterprises in India for their daily operations and working capital requirements and provide unsecured business loans starting at 1% per month. We wish to make SMEs & Individuals’ social & alternative scoring of SMEs & Individuals a significant opportunity for the economy that will far outplace the limited insights that the financial bureau provides. We believe our technology-powered online marketplace is the best model to meet the financial requirements of SME’s who do not have credit history & hence cannot avail of loans from traditional banking channels. Although there are many private finance companies around the globe, Here are few noteworthy reasons why you should choose FlexiLoans for your financial business requirements:

Collateral free:

FlexiLoans aims to provide tension-free loans to SMEs and small business owners as we offer business loans without collateral.

Minimum documentation:

An online business loan provider, FlexiLoans started with a motive to solve the problems faced by SMEs in accessing quick, flexible, and adequate funds for growing their business, it provides quick business loans to MSMEs with minimum documentation and easy process.

Safe and secure:

To safeguard and secure your data, we follow only RBI mandated guidelines and policies, so you do not have to worry about the credibility from where you are raising funds.

Transparent:

Our vision is to provide financial access at a click; consumers and small businesses can borrow through us to get loans customised to their needs at a fast pace and transparent finance charges so that there are no surprises later.

Offers multiple types of business loans:

FlexiLoans’ products help you with multiple types of business loans:

• Term loans
• Vendor financing
• Loan Against POS
• Line of credit

Loans starting at 1% p.m:

In a survey conducted with around 15000 listed and unlisted companies, from diverse ranges such as textile, agriculture, IT, a common trend showed that SMEs exposure to bank credit was low due to high-interest rates charged. FlexiLoans provide you loans starting with 1% per month, up to 1 crore.

Fast process:

You can apply for a business loan to get quick approval of your business loan in just 3 easy steps. Check your eligibility with few simple steps and get your loan approved:

• Download our app.
• Click photos of some key documents
• Connect to your bank account
• That’s it! After following the above three steps, get your loan approved within 48 hours.

High loan amount:

FlexiLoans allows you to get a business loan up to 1 crore with an interest rate as low as 1%.

Hassle-free and paperless process:

We understand that predicting monetary requirements in advance is a difficult process. You may need funds urgently when the need arises. You can get your online application for a business loan approved within hours and get the money directly credited to your account without any hassle. Apply now to get quick business loans approved instantly.

Loans serviced in 1000+ cities:

An RBI registered NBFC which is trusted by merchants of 100+ partners, we have 4,00,000+ happy customers in 1000+ cities across India.

Instant loan approval, a high loan amount without any collateral, multiple types of business loans with safety and transparency makes business loans from FlexiLoans better than the rest.

FAQs on getting loan disbursal from FlexiLoans – a top business loan lender

How do I apply for a business loan?

You can apply for a business loan by following the 3 easy steps:

1. Complete application: apply for a loan from anywhere in India by answering some questions on the website or the app, which typically takes 5 minutes. These details will be used to assess the eligibility for the business loan.

2. Upload documents: upload the following documents online:

• Personal KYC- PAN card
• Residential address proof: rent agreement, driving license, voter’s ID, ration card, aadhar card, passport
• Banking: last 6 months bank current statement
• Business KYC (anyone): GST registration certificate, shops and establishment certificate

3. Credit in your bank account: the amount will be then disbursed in your bank account, and our experts will help you with repayment details.

• On what basis will you disburse the loan amount?

Once you have applied for a business loan by following the above three steps, We will review your business performance to determine the amount you can access and compute the interest rate applicable. Our loan officers will help you understand the offer and make the best decision.

• What is the maximum amount that I can borrow for my working capital loan?

The maximum amount you can borrow for a working capital loan starts from 50,000 and up to 1 crore for a tenure of 3 to 24 months.

• What are the multiple types of business loans offered by FlexiLoans?

The types of business loans offered by us are:

• Merchant cash advance
• Working capital loans
• Vendor financing
• Line of credit

• Will I have to put any collateral as security?

Absolutely not! You can get a business loan without collateral. There is no security or collateral required to get a loan for your business.

• What will be the repayment tenure for a working capital loan?

The repayment frequency for a working capital loan is flexible. You can select an option that best suits your needs.