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Business Loan

Business Loan in India

A business loan is an unsecured loan that you will use to fulfil the immediate needs of your business growth. Small Business loans assist you in raising capital for your company to extend your current activities, increase demand, get your operations online, or purchase new equipment, among other things. Business finance's rapid infusion of cash allows you to make required transactions and payments on schedule, maintaining the seamless operation of your business.

Features of FlexiLoans Business Loan

  • Accessible and Convenient

Accessibility is the greatest quality of banks; it is also a key aspect, since there would be a need for daily communication, savings deposits, and withdrawals. Through years of service with a particular bank, the client develops an interest in the institution. A positive track record enables the institution to be lenient with its clients.

  • Tax Benefits

Businesses who obtain a business loan may benefit from tax advantages, since the ratio of income used to repay the loan is not taxed.

  • Online Application

There is no documentation to be provided, and no long application processes to complete. The application form is available online and needs only a few fields to be completed. Soft paper copies that are needed solely for application purposes must be submitted electronically with the form. It enables borrowers to complete loan documentation at any time, using a mobile device or a computer.

  • Repayments

Repayments on an online business loan are adjustable, which simplifies the process. A business loan can be obtained for a term of one to five years. This, however, may vary according to the lender.


Benefits of Taking Business Loan from Flexiloans

  • Buying Inventory

One of the best things that small business owners can do with the money available through an online instant business loan is to buy inventory, or improve their existing inventory. Using a loan amount for buying inventory is one good way of managing seasonal dips. It can also come as a major scope for the retailers to replenish their stock, or even try out a variety of new products.

  • Managing Daily Business Expenditures

If you want all the different things and procedures within your small business to keep running smoothly, you have to invest a lot of money and time into it. The money availed through unsecured business loans can be used for covering the daily expenditures associated with the smooth functioning of a business. This will further help in keeping the lights on.

  • Buying Required Equipment

A loan for businesses requires financing for their hard-hitting and heavy expenditures to procure new equipment. One of the best ways of using the amount availed through an MSME business loan in India is by making investments in different tools and equipment. This can help with business expansion and growth. Investing the money in the use of new and advanced technologies for making your business more appealing and instrumental for the targeted clients will give you an edge over your competitors as well.

  • Paying Off or Refinancing Debts

The cash obtained through a small business loan can even be used for debt consolidation. Paying off debts or refinancing the same early on in business can offer you a great impression amongst the creditors, and even amongst probable customers. So, if you want to build credibility, then make sure to use your funds the right way.

  • Business Promotion and Marketing

Last but not least, using available funds in business marketing will boost sales and bring in good revenues. If you want your business to grow, you must get brand new customers for your products and services. Only getting customers will not work. Instead, you should have your focus on building a loyal customer base. This can best be done by using emails, events, social media, and paid media sources. This again requires the use of money, which is available to you in the form of a loan.


Types of Loan We Provide

At present, business financing may seem puzzling. As a business owner, you may always find yourself curious about the best possible way to finance a specific business need, even more so in a competitive world like today. Hence, here are some types of business loan in India:

Whether you are an offline or online retailer, manufacturer, or seller looking to expand your business; look no further beyond our Flexi-Term loans. Be it for expanding inventory to service demands during the festive season, to expand to a new online platform, or general business expansion, we are a one-stop place for all your business funding needs.
We provide you with quick funding, flexible repayment tenures, and interest rates based on your eligibility and convenience.

If you are a merchant primarily operating offline, and have a card machine and are accepting credit/debit card payment, and you are looking to expand your business by procuring new inventory or expanding into newer products, for which you need funding - Flexi-Merchant Advance is your product for any loan amount.

We provide quick, affordable, and seamless loans based on your eligibility against your card swipe transactions.

You are a vendor or a supplier to large corporates or online platforms, and have multiple invoices that require your partners to pay back. You are, however, looking for liquidity to meet your obligations while your partners pay you back. Flexi-Invoice Financing solves this problem for you by giving you advanced funds against the invoices so that you can run your business as usual.

We provide quick and seamless loans up to 90% of your invoice amount basis eligibility.

You are in a business with seasonal variations, or you may need funds to meet your irregular funding requirements. Flexi-Line is a product designed for businesses like you. We offer you a credit facility based on your eligibility, which you can use as you deem right at your convenience. And you are charged only for what you utilise.


Basic Eligibility Criteria

A business loan provider in India can also lend you money without any security. It mainly depends on the lender. There are some business loan eligibility criteria that the businesses need to fulfil for getting the loan amount. These criteria are listed below:

  • An individual must be 21 years of age when applying for the loan, and not more than 65.
  • Small Business loans are available to individual corporations, sole proprietors, and private companies involved in trading, production, or services.
  • The applicant must have worked in the industry for three years, and have at least five years of experience.
  • Offers business loans to those businesses that have been running for at least a year and have monthly total sales of at least ₹2,00,000.
  • Business loan online can be applied in India if the company has been in service for more than 3 years.
  • We would also ensure that there are no errors in previous accounts, and as such the company is tax compliant.

How to apply for business loans?

Step 1: Fill the online form-

This is the application form that asks for basic requirements such as the borrower’s details and the reason for the loan.

Step 2: Upload Documents-

These are documents such as PAN Card, Aadhar Card, IT returns, and Bank Statement. Many websites also offer the option of generating a credit score through the help of these documents.

Step 3: Get Approved!

Once you have submitted all the documents and the online application form, the lenders will go through them and in a few minutes approve your application if the documentation is in place! To apply for business loans and the types of business loans that suit your needs.


Special Loan Provided by Flexiloans

  • Self Employed Business loan

As a business owner, you can go through different stages of expansion and development. Typically, both of these prospects need the right financing at the right time. Obtaining versatile, unsecured funding is regarded as the easiest and safer course of action. Self-employed business loans are the ideal financial tool for addressing short-term financing and working capital requirements. If it's for capital needs or other capital expenses necessary to keep the company going, we have the solutions and industry expertise to assist you in fulfilling your funding needs.

FlexiLoans India's innovative finance strategies are tailored to the specific needs of businesses across sectors. With our business loan, you can concentrate on growing your business while arranging and managing your financial needs.

  • Loan for Furniture Business

Furniture stores need a substantial initial cost as well as major production expenditures to operate efficiently. To run a profitable furniture store, you'll need reliable resources to cover the high overhead costs. The positive news is that there are several solutions available for furniture company owners seeking a loan for furniture business. So, with FlexiLoans you can apply for a business loan in India without security as these loans will be collateral-free.

We all need transportation to get around. Every Indian dreams of owning both a two-wheeler and a four-wheeler. With the assistance of a business loan, you will benefit handsomely from this dream. If you own an automotive company and need additional funds to renovate your showroom or add another vehicle manufacturing brand to your showroom, a business loan from FlexiLoans will assist you. With our business loan, you will immediately receive the requisite principal sum. You can invest in your company in any manner you wish; there are no restrictions.

  • GST Business Loan

Today, several private and public sector banks, government agencies, and financial institutions provide loans to small and medium-sized businesses. The GST Business Loan is a popular loan option.

A GST business loan is a term loan of up to ₹ 1 crore secured against micro, small, and medium-sized enterprises' GST returns. This ensures that MSMEs can obtain support for their working capital needs simply by submitting their GST returns.

  • E-commerce Business Loan

In India, online shopping has exploded in popularity. The country's rapid growth in e-commerce has drawn a number of the country's biggest domestic and foreign firms to the market. This has resulted in a substantial rise in competition for independent online merchants. They must now invest regularly in their online retail company to stay ahead of the market and retain new customers.

E-commerce Loan In India is one of the most effective ways for online companies to meet this ongoing funding need. We will assist you in locating the right business loan online in the fastest and most comfortable manner possible to assist you in growing your business.

Documents Required for Business Loan

Personal KYC PAN card
Residential Address Proof (Any One) Rent Agreement | Driving License | Voter's ID | Ration Card | Passport | Aadhar Card
Banking Last 6 months current account bank statements
Business KYC (Any One) GST Registration Certificate | Shops & Establishment Certificate | Business PAN Card

Frequently asked questions

What are the purposes for which I can get a loan via FlexiLoans?

FlexiLoans is here to provide you financial access for your business funding needs. You have to undergo simple and transparent Credit Evaluation, basic documentation before we disburse the loan. You may get loans via FlexiLoans for:
  • Expanding your business
  • Servicing regular working capital needs
  • Managing seasonal working capital requirements
  • Manage short term cash flow gaps

Why should I avail loan via FlexiLoans?

Quick credit assessment ensures fast disbursal of loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business.

What documents are required to apply for a loan?

KYC document

  • - Pan card

Proof of residential address (any one)

  • - Rent Agreement
  • - Driving License
  • - Voter's ID
  • - Ration Card
  • - Passport

Banking

  • - Last 6 months of bank statement of current account

Business KYC (any one)

  • - GST Registration Certificate
  • - Shop Establishment Certificate

Financial documents (For loans greater than 20 Lakhs)

  • - 2 years Audited financials
  • - Last 2yrs ITR
  • - GST Returns of 6 months

Are there any charges other than interest rate that I have to pay to avail the loan?

We may charge processing fee to facilitate the loan towards legal and documentation charges. You may be charged penal charges for late or irregular payment behavior.

Where to apply for a small business loan?

To apply for a business loan, click on the link here. Fill the loan application and upload the documents online our team will then contact you regarding the loan.

The maximum amount of loan that I can take?

You can get an unsecured business loan up to ₹1 crore.

Quick credit assessment ensures fast disbursal of loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business.

KYC document

  • - Pan card

Proof of residential address (any one)

  • - Rent Agreement
  • - Driving License
  • - Voter's ID
  • - Ration Card
  • - Passport

Banking

  • - Last 6 months of bank statement of current account

Business KYC (any one)

  • - GST Registration Certificate
  • - Shop Establishment Certificate

Financial documents (For loans greater than 20 Lakhs)

  • - 2 years Audited financials
  • - Last 2yrs ITR
  • - GST Returns of 6 months

We may charge processing fee to facilitate the loan towards legal and documentation charges.

To apply for a business loan, click on the link here. Fill the loan application and upload the documents online our team will then contact you regarding the loan.

You can get an unsecured business loan up to ₹1 crore.