Loandeals offers unsecured business loans from 10 plus lenders to help you grow your business without financial troubles.

Apply for an unsecured business loan online, instantly.

What Is an Unsecured Business Loan ?

An unsecured business loan is a short-term loan that does not require any personal or business asset as collateral. However, as the loans are unsecured (without any collateral), the bank is taking more risk in granting the loan and may demand a higher interest rate.

If you own a small business, you may need regular amounts of cash for expansion, to purchase machinery, or to meet other capital requirements. Doctors, Chartered Accountants, Architects, Engineering Professionals,Service Providers, Entrepreneurs, SMEs and MSMEs, are all eligible for unsecured business loans that can be used to meet short term capital requirements instantly.

Features of An Unsecured Business Loan:

• Get between 10 and 100 lacs instantly
• Collateral-free loans
• Fast approval

Do maintain a good credit rating and financial history to be eligible for an unsecured business loan.

Wish to Grow Your Business but Don’t Have the Cash?

An unsecured business loan could turn your dream into reality. At Loandeals, we offer you unsecured business loans from top lenders such as ICICI bank Limited, HDFC bank Limited,Bajaj Finserv, Tata Capital Limited, Fullerton India Credit Company limited, Indusind Bank Limited, Kotak Mahindra Bank Limited, Yes Bank Limited,IDFC First Bank limited etc. at competitive rates.

Speak to us or WhatsApp   +91-8425804441 to find the loan that is best tailored to your situation.

100% Collateral Free Loans |   Easy Eligibility | Fast Approval |  Online Account Management

Looking for Instant Capital to Expand Your Business?

An unsecured business loan can help you tide over emergencies and provide you with the cash you need for short term requirements, instantly. Note that unsecured business loans come with a higher interest rate and are only for a short duration of time. They can be used for debt consolidation, business expansion, investing in infrastructure or machinery, and meet the short-term capital requirements of your business.

Visit Loandeals to compare unsecured business loans from various lenders or drop us a message on WhatsApp   +91-8425804441 for a friendly chat. We are happy to help you!

Have You Checked Your Credit Score Recently?

Your credit score is a financial score that sums up your financial behavior. Banks use this score to assess your repayment behavior and whether it is safe to lend money to you.

Thus, it is imperative to maintain a good credit score of over 700 to be eligible for an unsecured business loan.

However, small mistakes can damage your credit score for a long time. For example, not paying your phone bill or credit card bill on time can put a black spot on your credit file for several years at once. Thus, it is essential to pay all your bills in time, and also make regular savings, to demonstrate responsible financial behavior to lenders. A good credit score will also help you get a better rate on your home loan or a loan against property if you ever need it in the future.

You can order your credit report for free from websites such as www.cibil.com.

Whether you are a business owner or a professional , you can apply for an unsecured business loan on Loandeals to meet your capital requirements instantly.

Speak to an expert or WhatsApp  +91-8425804441  to understand your options better.

Who Can Apply for an Unsecured Business Loan in India

If you wish to expand your existing business or need some working capital to have your business running properly, an unsecured business loan is a perfect choice to meet your cash requirements conveniently.

Any self-employed professional or non-professional, proprietors or partnership firms can apply for an unsecured business loan, provided they meet the following criteria:

• The business should be India-based
• The company should have been in operation for at least three years
• The business must have a minimum turnover of INR 40 lacs
• The business should have an annual income of INR 5 lacs per annum
• The applicant must be a minimum of 23 years at the time of application and not older than 65 years at the time of maturity
• The applicant must possess a good credit score to be eligible for an unsecured loan. Ideally, a credit score of more than 700 is preferable.

Note that:

• As the lender is taking a higher risk in lending without taking security, the interest rate is usually high
• The loan term is generally three years or less
• Unsecured business loans may not be suitable for start-ups, as banks require a business to be running for at least five years
• The loan amount may vary from 10 lacs to up to 100 lacs, depending on the business size and need
• Some lenders may also offer an overdraft facility with an unsecured business loan to meet the needs of a growing business

Keep the Following Documents Handy If You Wish to Apply for an Unsecured Business Loan:

The documentation required for business loans is minimal. Keep the following documents handy for instant loan approval:

• Passport size photograph
• KYC documents
• Business proof
• IT returns
• Past 12 months bank account statements
• GST returns for the past one year

Who Should Take an Unsecured Business Loan?

Self-employed professionals, non-professionals, partnership firms, sole proprietorship, and other types of organisations can apply for an unsecured business loan and receive up to INR 100 lacs within 24 hours.

You can borrow the money for various business needs, and customize your repayments according to your requirement. Generally, borrowers use an unsecured business loan to:

• Increase your cash flow
• Purchase machinery or equipment
• Lease a bigger area for office or renovate the existing premise
• Technology up gradation
• Build inventory
• Hire contractual employees
• Scale up your operations or expand to other cities

You can also apply for specialized financial products, such as:

Machinery Loans – If you wish to upgrade your factory equipment or install new machinery, you can opt for a machinery loan for the purpose.

Short Term Working Capital Loans – All businesses need a cash injection from time to time to maintain healthy cash flow. A working capital loan gives you access to instant money, when you need it, without the requirement of putting any personal property on the line.

If you are looking for a specialized business loan, get in touch with an expert on WhatsApp  +91-8425804441 to discuss your requirement in detail, absolutely free of cost!

Apply for an Unsecured Business Loan in Three Easy Steps:

• Compare interest rates and features on Loandeals
• Submit your documents online at Loandeals
• Execute Loan & Disbursement related Documents offline directly with the Financial Institution.

We send you regular updates on your application status. In most cases, it is possible to receive the money in your account within one working day. If you have any questions or concerns, contact us on WhatsApp  +91-8425804441 and let our experts guide you to the right financial product for your situation.

An unsecured business loan can help you expand your business or meet any immediate funding requirement. You may also avail an overdraft facility depending on your business needs.

• Immediate Capital Injection

Get quick and easy business financing up to INR 100 lacs for short or medium term to scale your small business. You can use the loan amount to expand operations, invest in infrastructure, or meet your working capital needs.

• Flexi Loan Facility

Small businesses have evolving requirements. That’s why we offer you flexible loans that let you withdraw as much money as you need whenever you need it, up to a pre-approved limit! You can also pay interest-only EMI to reduce your monthly repayment amount and manage your cash flow better.

Note that your repayment amount may shoot up at the end of the interest-only period, and it is better to speak to an expert to decide whether an interest-only loan is suitable for you or not. Get in touch with us on Loandeals or  get in touch with an expert on WhatsApp  +91-8425804441, and we will be happy to discuss your requirement in detail, free of cost!

• No Collateral

 Unsecured business loans are collateral-free, which means you don’t have to put your precious home or other assets on the line to get financing.

• Low Interest Rates

While an unsecured business loan comes at a higher rate of interest than a regular loan, it is usually cheaper than revolving credit or credit card loan.

• Online Account Management

Enjoy seamless account management online on your preferred device and manage your loan anytime, anywhere.

Looking for Instant Capital to Expand Your Business?

An unsecured business loan can help you tide over emergencies and provide you with the cash you need for short term requirements, instantly. Note that unsecured business loans come with a higher interest rate and are only for a short duration of time. They can be used for debt consolidation, business expansion, investing in infrastructure or machinery, and meet the short-term capital requirements of your business.

Visit Loandeals to compare unsecured business loans from various lenders or drop us a message on WhatsApp   +91-8425804441 for a friendly chat. We are happy to help you!

1. How much money can I borrow if I take out an unsecured business loan?

Unsecured business loans are linked to your income and credit. You can borrow up to 100 lac rupees in less than 24 hours if you opt for a pre-approved loan. Use this eligibility calculator to see how much money you can borrow or speak to an expert to know more.

2. How long does it take to get the loan?

It only takes 24 hours to receive the money if you opt for a pre-approved business loan and have all the documents handy in addition to a good credit score.

3. How are the repayments calculated for my loan?

You can structure your business loan according to your requirement and choose between equated EMI, interest-only repayments, or balloon repayment wherein you pay a fixed monthly amount and a larger but fixed amount at the end of the term.

4. Is it possible to prepay the loan at any time?

Unsecured business loans are for a short duration, but you can prepay the loan once you have paid a minimum of six EMIs. Foreclosure charges may be applicable according to your loan agreement.

5. What is the rate of interest on an unsecured business loan?

The rate of interest on an unsecured loan may vary between 15 and 24 per cent. In addition, a processing fee of up to 3 per cent may be applicable. Some lenders also insist on an insurance cover to be paid by the borrower.

6. What is the tenure for an unsecured loan?

You can borrow between 10 and 100 lacs with minimal documentation for a tenure of 12 months, 24 months, 36 months, or 60 months, depending upon your requirement.