Business Loan

What is business loan?

In case of shortage of funds or financing a new venture or fund the renovation of machinery a business can avail loan from the bank. Banks loan money to businesses, which must be repaid by the borrower, called the business loan. These loans are provided only to fund business expenses and thus carry a higher interest rate. 

Features of business loan:

  • Business loan are no hassle loan as they require minimal documentation. 
  • They come with flexible repayment option
  • Business loans can be of various types depending on the requirement of the borrower like microloans, secured loans, working capital loans, business expansion loan etc. 
  • The government also provide business loans through the MUDRA yojana. 
  • Depending on the size of the business, a maximum business loan of upto Rs. 75 Lakhs can be availed. 

Get advice within minutes