Business Loan
What is Business Loan and Why you should Consider It?
Business Loans are essential for people planning to begin or develop their organizations. It is an exhaustive arrangement pointed toward assisting Indian organizations with fast assets. Universal Financial Service online Business Loan is ideally suited for new organizations, filling in as a capital hotspot for all your business prerequisites. The business credit financing cost is reasonable, guaranteeing you don’t need to think twice about fundamental operational expenses. Apply for a moment of Business Loan from Universal Financial Service, and take your business higher than ever of achievement!
Due to the risk inherent for the lending company, because business loans are unsecured, they typically base their ROI and PF calculations on the customer’s entire business profiles. The factor that the lending company, such as a bank or NBFC, takes into account is the customer’s CIBIL score, business profile, current company constitution (a partnership, LLP, limited liability company, or sole proprietorship), well-audited financials etc.
Features and Benefits of Business Loan
- No collateral or security is needed.
- Fast Processing & Disbursement.
- Consolidating debt through CC payments or other loan payments reduces greater EMI load each month.
- Lower rate of interest (ROI) than friends, family, or other money lenders.
- Dropline Overdraft Facility: Only pay interest on amounts actually used.
Criteria For Business Loan
- Self-employed people, business owners, private limited companies, and partnership firms engaged in the manufacturing, trading, or service industries.
- Those who have been working in the current industry for at least three years.
- Person must be older than 21 and have a good CIBIL score of 700 or higher.
- A person must not have missed or delayed payments on any EMIs in the previous 12 months.
- The tenure varies from one to three years.
- Loans up to 1 Cr are available without the need for collateral.
Requirements
Loan Amount
5 Lacs to 75 Lacs
Age
Min 21 to 58 Years
Business Vintage
Min 3 Years Old Business
Documents Required
- 1 Year / 6 Months Bank Statement
- KYC
- Business Proof
Or
- Regular ITR with Audited Balance Sheet
- KYC
- Business Proof
Or
- GST Program
- KYC
- Business Proof