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Small Business Loans
Any entrepreneur knows that his ideas can only be materialized if he manages to fund his idea. Thus, the first thing that a small business or start-up needs is a small business loan. A small business loan is not different from any other loan: it is a sum of money, repayable with interest, sanctioned by a lending institution.
However, with the changing market and economy, debtors get more options in terms of money lenders. In recent times online business loans are becoming a popular choice. FlexiLoans are one such online money lending organization.
How to get a small business loan approved?
When it comes to eligibility for small business loans India in banks or other lending institutions, criteria may differ with specific financial institutes. However, if you are considering FlexiLoans for your online business loans, you are required to do the following:
- Age of the business: at FlexiLoans, we need your business to be at least a year older for the approval for the business loan.
- Annual turn-over: your business turn-over is expected to be 24 Lakhs at the least.
- The business should have a GST certificate.
Basic Eligibility Criteria
| Minimum Business Vintage | 1 year |
| Monthly Business Sales Minimum | 2,00,000 |
Why should you choose FlexiLoans for your small business loan?
Before you make your choice, you must be sure about the advantages you can get at FlexiLoans. The following are precisely the benefits you can get regarding your business loan.
- Quick disbursal: within 48 hours.
- The documentation required for the instant business loan is simple and minimal.
- The process of loaning is not only easy but also safe. FlexiLoans discards any chance of fraud relating to unsecured business loans.
- The processes at our organization are transparent and do not require any hidden charges.
- We provide small business loans without collateral.
- Competitive small business loan interest rates.
Steps to apply for a small business loan?
In order to get a loan approved, you first need to learn how to apply for a small business loan. The following are the steps you need to follow:
- To apply for an online business loan, you first need to fill up an online form.
- We have already discussed the required documents for a small business loan. The next step is to upload them.
- The last step is to get approval for your GST business loan. If you are eligible, you are going to receive the notification within 48 hours of submission.
Documents Required for Small 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?
- Why should I avail loan via FlexiLoans?
- When to get a business loan?
- What documents are required to apply for a loan?
- Are there any charges other than interest rate that I have to pay to avail the loan?
- What is the business loan interest rate?
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.When to get a business loan?
You can get a small business loan at any time depending on your interests. You can take it to expand your inventory, meet seasonal requirements, sudden cash requirement due to irregular cash flow, etc For more information click on the link hereWhat 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.What is the business loan interest rate?
Interest rates start at as low as 1% per month. However, it may depend on various factors like your loan amount, tenure, eligibility, etc.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.
When to get a business loan?
You can get a small business loan at any time depending on your interests. You can take it to expand your inventory, meet seasonal requirements, sudden cash requirement due to irregular cash flow, etc For more information click on the link here
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.
What is the business loan interest rate?
Interest rates start at as low as 1% per month. However, it may depend on various factors like your loan amount, tenure, eligibility, etc.