Loanbazar
Grow Faster: Get ₹25 Lakhs Business Loan Instantly!
Start Your Business Application
Partnered With Leading NBFCs
Get the Best Loan Offer For You - All in one place!
Find the Perfect Loan Match for Your Needs in Minutes.
Max. Loan Amt.
Upto ₹10L
Tenure upto
Upto 4 Years
Rate of Interest
12% - 18%
Max. Loan Amt.
Upto ₹5L
Tenure upto
Upto 3 Years
Rate of Interest
15% - 22%
Max. Loan Amt.
Upto ₹20L
Tenure upto
Upto 5 Years
Rate of Interest
11.25% - 21%
Exceptional Benefits, Fulfilling Customer Experience!
Relish Our Ultimate Set Of Comprehensive Provisions
Dedicated Expert Assigned
You'll leverage our experts' guidance, insights & strategies
Loan Process in Multiple NBFCs
"Enjoy maximum benefits with our strategic NBFC partnerships today!"
Personalized Tracking Portal
Lets you access the relevant updates and profile information
100% Online Process
Facilitating customers with utmost convenience & comfort
On-Call Expert Consultation
To get all your queries sorted with expert & effective solutions
Tailored Financial Solutions
We offer personalized financial solutions tailored to your unique needs and goals
Eligibility Criteria For A Business Loan
Check if you meet the following basic requirements before applying.
| Small Business | Audited Report Business |
|---|---|
| Age Requirements: You must be at least 21 years old to apply for a business loan. | Age Requirements: You must be at least 21 years old to apply for a business loan. |
| Required Documents: Minimum 1 Year IT Return | Required Income: 1 Crore Plus Yearly Turnover |
| Business Stability: Minimum 1 Year Business Stability | Business Stability: Minimum 2 Years Audited Report |
| Business Duration: You must be in business for at least a 1 year before applying for a business loan. | Business Duration: You must be in business for at least a 2 year before applying for a business loan. |
Required Documents For Business Loans
Gather these documents before applying—it saves time!
For Small Business:
-
Aadhaar Card
-
PAN Card
-
Address Proof
-
Bank Statement of Last 3 Months
-
Profit & Loss Statement of Last 2 Years
-
Last 2 Years’ Income Computation
-
Income Tax Returns
-
Business Existence Proof
-
Balance Sheet of Last 2 Years
For Audited Report Business:
-
Aadhaar Card
-
PAN Card
-
Address Proof
-
Bank Statement of Last 3 Months
-
Profit & Loss Statement of Last 2 Years
-
Last 2 Years’ Income Computation
-
Income Tax Returns
-
Business Existence Proof
-
Balance Sheet of Last 2 Years
Frequently Asked Questions
The eligibility criteria for applying for a business loan are as follows:
Salaried Professionals:
- Age: Minimum 21 years
- Salary: Rs. 15,000/Month (Should be deposited in the bank)
- Job Duration: Minimum 1 year
Self-Employed Individuals:
- Age: Minimum 21 years
- Income Tax Return: Minimum 1 Year
- 1 Year Business Duration
Following are the documents that are required to apply for a business loan:
- Aadhaar Card
- PAN Card
- Income Proofs: Salary slip or Form 16
- Bank statements (should reflect the monthly income)
- Residential Proofs: Utility bill or Rental Agreement
Please note that a lender can ask for additional documents based on your profile and their policies.
Only if you use the funds to renovate your house or to invest in a business. For more information, please contact your CA or tax advisor.
Yes. Nowofindia provides an easy-to-use portal for applying for a loan and processing it at our partnered NBFCs via a subscription plan, all without leaving your comfort zone.
The main 3 important factors that can impact business loan approval are:
- Age
- Monthly Income, and
- CIBIL score
Sure. Unlike secured loans, like home loans, car loans, etc., business loans have no pre-specified purpose. The funds obtained from a business loan can be used for any business purposes, like pursuing higher education, renovating home, consolidating debts, paying unexpected bills, etc.
A credit score of 650 is regarded as good when applying for a loan.
Loan tenure ranging from a minimum of 6 months to a maximum of 72 months with Annual Interest Rates between 11% - 34%. Processing fee up to 2%. For Example: Considering a business loan of Rs.1,00,000 availed at 11.5%* interest rate for a tenure of 6* years with 2%* processing fee, the APR will be 12.26%*. *T&C Apply. All these numbers are tentative/indicative, the final loan specifics may vary depending upon the customer profile and NBFCs' criteria, rules & regulations, and terms & conditions. Company registered address : B-301, 3rd Floor, Heny Arcade, Dabholi Road, Surat, Gujarat, India -395004