The economic growth of the country indirectly leads to the economic growth of the MSME and the SME sector. More than 50% of the country’s GDP is contributed from the MSME and the SME sector. To uplift these sectors and give importance, the government has initiated quite a few schemes, offers and set up NBFCs. Also, the growth of FinTech has made the loan sanctioning process easier and faster. Instant Business Loan has changed the way small business owners take a loan and has also improved the productivity of the business as entrepreneurs can then concentrate on growing their business rather than insufficient liquidity.
Like the name suggests Instant Business Loan is a loan with a quick and easy process. In earlier days if an entrepreneur wanted to take up a loan, the process was quite tedious and tiresome. The borrower had to ensure all the documents were in place, there was enough collateral in place for the amount of loan borrowed, timely visits to the loan office, a high credit score and so on. But all of this has been eliminated in the near time due to the advancement of technology and support of the government.
An Instant Business Loan grants you the loan within a short span of time without having you to make multiple office rounds, heavy paperwork and so on.
While Instant Business Loan itself is a type of loan that has it own major head, an instant business loan amount can be used for various purposes depending on your business and what you intend to do with the amount sanctioned to your business. There could be a variety of uses that one could put the money to use too. Below are a few mentioned types of loans that come under the purview of an Instant Business Loan
Answer a few questions to tell us a bit about your business, how much you need, and how you’re planning on using the funds.
Then once we’ve got your details, one of our finance experts will be in touch to explain the next steps. Every member of our team has years of experience helping small businesses receive business loans, so they’ll be able to answer any questions you might have.
When everything’s confirmed, your funds will be transferred directly into your business bank account, usually the same day – much quicker with banks who can take several weeks.
That’s it! That’s how simple the process for Instant Business Loans is. What is even simpler, is the number of documents required.
1. Documents Required
– PAN Card
2. Residential Address Proof (Any One)
– Rent Agreement
– Driving License
– Voter ID
– Ration Card
3. Last 6 months Current Account Bank Statement in Net Banking PDF format
4. Business KYC (Any One)
– GST Registration Certificate
– Shops and Establishment Certificate
Please note, this is the general eligibility criteria and can differ from company to company depending on where you choose to take the Instant Business Loan.
You can use an Instant Business Loan to:
So what are you waiting for? Click here to know more about the details required for FlexiLoans Instant Business Loan approval and carry on your business worry-free.