Small Business Loans

Meet small business needs with collateral-free loans

Eligibility criteria for Small Business Loans

  •   Business with atleast 12 month vintage
  •   Monthly Business Turnover Minimum ₹2,00,000

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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 a 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. 

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How to get a small business loan approved in India?

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.

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.

  1. Quick disbursal: within 48 hours.
  2. The documentation required for the instant business loan is simple and minimal.
  3. The process of loaning is not only easy but also safe. FlexiLoans discards any chance of fraud relating to unsecured business loans.
  4. The processes at our organization are transparent and do not require any hidden charges.
  5. We provide small business loans without collateral.
  6. Competitive small business loan interest rates.

In our country, online lending platforms are frowned upon and considered unsecured business loans. However, in the U.K and other foreign countries, this trend is getting popular. It is not only convenient and quick but also safe. Thus, choosing FlexiLoans for your business loan is preferable.

How 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:

  1. To apply for an online business loan, you first need to fill up an online form. 
  2. We have already discussed the required documents for a small business loan. The next step is to upload them.
  3. 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.

What are the necessary documents that are required for a small business loan?

When it comes to a business loan, the most important thing to do is to gather and submit the right documents. The small business loan documents required in FlexiLoans are minimal compared to the rest of small business financing institutions. They are as follows:

  1. Your current bank account statement, for the last 6 months, is required.
  2. Documents related to your KYC or Know Your Customer, or that of your organization is required.
  3. Your GST business loan requires a GST certificate or a shop establishment certificate.

Other solutions offered by FlexiLoans:

Working capital loans: these loans are effective in case of expanding your inventory to meet the client requirement during the peak seasons.

Vendor financing: this provides for the liquidity against invoices that help the business owner or co-owners to focus on the business and maintain its normalcy.

Merchant advance: besides large business loans, you can get instant business loans or short time loans at FlexiLoans based on your card swipe history.

Line of credit: for businesses that operate seasonally instead of year-around run, these are small business financing options.