Apply for Business Loan Online
Quick, Versatile Financing for Small and Growing Companies
Do you need capital for an expansion, hiring, or managing cash flow? A business loan can power your next growth cycle, providing funding for existing businesses or new ventures, without using any of your capital reserves.
Business loans for small or growing businesses are flexible funding, whether you’re purchasing inventory, updating equipment, hiring talent, or expanding to new markets. Having a business loan gives you peace of mind to take the next steps with your business.
What is a Business Loan?
A business loan is money that an organization or entrepreneur borrows to pay for certain business expenses. Business loans are offered by banks, NBFCs, credit unions, and online lenders. The funding from business loans can be used for many things, such as the procurement of equipment, upgrading infrastructure, working capital, and expansion.
Business loans can be secured (requiring collateral) or unsecured (honouring the integrity of your credit and your overall business performance).
Current Busines Loan Interest Rates (India)
| Lender / Category | Interest Rate (p.a.) |
|---|---|
| Major banks (e.g., HDFC, Axis, IDFC) | 10.5 % – 15 % (up to ~22 % max) |
| Kotak Mahindra Bank | 11.75 % – 13 % |
| ICICI Bank | 8.9 % – 9.75 % (floating rate) |
| SBI (MSME/small business) | From ~8 % up to 11.6 %+ depending on segment |
| Unsecured from NBFCs (e.g., LendingKart, FlexiLoans) | 12 % – 35 % |
| IIFL Finance | Starting around 12.75 %, up to ~36 % |
Types of Business Loans
There are different categories of loans that help businesses to operate in different situations:
Term Loan
A one-time loan that is disbursed with the proper payment terms. Great for long-term investments.
Working Capital Loans
A short-term loan to pay for daily expenses and run cash flow.
Startup Business Loans
Specifically for new entrepreneurs looking for their own startup with new ideas.
Equipment Financing
Used to buy machinery to make a product or technology tools with equipment as collateral.
Invoice Financing
Assist with incomplete invoices by offering cash deposits against invoices.
Line of Credit
A borrowing limit that allows businesses to pay as they need.
Unsecured Business Loan
A loan with no collateral based on credit and financial profile.
Microloans
A small loan with ₹10 lakhs or smaller amounts that generally offer amounts for micro or rural businesses.
Finding the Right Loan or Line for Your Business
Check out what type of loan will depend on the goals of your business, the size of your business, and its financial state:
- Do you need capital to buy new inventory? A working capital loan could help.
- Willing to start your business scaling? A term loan may be an option.
- Have a cash crunch? A line of credit may be a good option.
- Need to find new equipment? Equipment financing could help.
- Getting started? A startup business loan is a great option for first-time borrowers.
Speak to a financial advisor or use a comparison tool to decide on the best options available to you.
Applying for a Business Loan or Financing
Here’s a process for how to apply for a business loan:
Identify Needs
How much do you need and why?
Check your credit score
Your business and personal credit history may be considered.
Documents
financial statements, business plan, tax returns, bank statements, KYC documents, etc.
Compare lenders
Interest rates, fees, tenure, and eligibility.
Apply online or offline
Many lenders now allow you to apply for a business loan online in a matter of minutes.
Approval & Disbursal
Once your loan is approved, funds will be disbursed directly into your business account.
Why choose a business loan?
Getting a business loan can help leverage your business in many ways. Consider one or all of the following:
- Cash Flow – Pay for routine expenses, without raiding your cash reserve.
- Expansion – Embark on a new business presence or expand your product offering.
- Build Your Business Credit – Timely repayments will improve your credit profile.
- Keep Your Day Job – getting investment means risking giving away equity in your business.
- Your Problem May Not Be That Unique – there are lots of good solutions to poor cash flow. Business loans, business offerings – help you get through a rough period.
Eligibility Requirements
Eligibility will differ based on lender and loan type, but general eligibility criteria will typically include:
- Business Age: The business usually must be in existence for 1–3 years.
- Turnover: There may be minimum revenue requirements.
- CIBIL/Credit Score: Having a good CIBIL or credit score increases your chances.
- Required Documents: GST returns, ITR, bank statements etc.
- Business Plan: This is especially true of first-time loan applicants, or startups.
Benefits to Support Your Business to Succeed
Quick Loan Disbursal: Certain lenders can process your loan and disburse funds to you within 24–72 hours of submitting your application.
Collateral-Free Business Loans: Unsecured business loans will be the best option for SMEs.
Choose your Repayment Plan: Choose whether to repay within an EMI, in bullet payments, or from structured EMIs.
Digital Application Process: You simply have to apply for your loan online, upload the required documents, and keep track of your loan application online.
All of these together make business loans for small business owners accessible and adaptable.
Lenders That Help Increase Small Business Access to Loans
Many entities exist to support small and medium enterprises – business financing is one of those ways.
Banks
Often provide secured and unsecured loans with lower rates of interest.
NBFCs
Provide a more streamlined application process and flexibility in eligibility standards.
Government Schemes
Programs like MUDRA, CGTMSE, or SIDBI provide business loans for small and new businesses.
Private Lenders
Often provide quick and short-term financing when a bank is too slow (or your project is time-bound) to lend money.
Each of these options has its advantages and disadvantages, so you will want to weigh your options based on how urgent the situation is, how much money you will need, and if you want the convenience of less documentation.
How Business Loans Help Small Businesses
If your small business needs the level of growth that only small business loans can provide, then the use of business loans will access potential in a few ways:
Support Growth Plans
Unlock the ability to increase operations for your small business without sacrificing profits.
Bridge Cash Flow Gaps
Manage seasonal slowdowns or lagging accounts receivable.
Upgrade Infrastructure
Invest in new equipment, office space or technology as appropriate.
Hire Talent
Leverage funds to attract proper talent, man-power, and consultative service.
Navigate Challenges
Have confidence to deal with surprise costs in your organization.
When put to good use, there can be little doubt that a small business can become a success story with help from small business loans that you have planned and executed against your financial plan.
Get the Money Your Business Needs
In today’s marketplace, gone are the days of running around to one bank after the other and waiting weeks (or more) to be approved. Regardless of whether you are interested in a business loan near me or prefer applying for business loans online, there are several platforms that offer access to capital much quicker and are more transparent in their operation.
Remember to:
- Shop around your options with lenders
- Read the fine print on documents, from processing fees, interest and foreclosure fees
- Consult and use EMI calculators and use them to understand what you can afford
Explore Financing Options for Your Business
Explore financing options available to you other than a business loan:
Credit Cards
Crowdfunding Websites
Angel Investor or Venture Capital
Government Subsidized Loans
Revenue-Based Financing
These options have different levels of risk vs. reward — choose the option that leaves you the most comfortable with your business’s objectives and repayment investment at the end.
Frequently Asked Questions
Can I receive a business loan without collateral?
Yes, many lenders provide unsecured business loans based on the creditworthiness of you and your business revenue.
What is the duration of a business loan?
The length of business loans varies from 12 months to 5 years depending on the type of loan and lender.
How fast will I receive the loan amount?
Some online business loan providers can fund loans within 48–72 hours of approval.
Can I get a startup loan if I have no business history?
Yes, there are several lenders and government schemes available to assist new businesses by providing financial support.
Your Trusted Credit Repair Partner
Integrity. Transparency. Results You Can Count On
