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Overview

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Whether you plan to upgrade your machinery or expand your team, a business loan helps you fuel your company’s growth.
Business loans are unsecured loans specifically designed for a business's growth and expansion needs. Looking to ramp up your marketing activities? Eyeing a new office space? Or perhaps you need working capital to meet operational expenses? A business loan comes to your rescue whenever you're strapped for cash. Finbros Capital Advisory acts as a true partner in your loan search and application journey. We understand just how important your venture’s growth is to you.

We also understand that the right amount of capital at the right time is the fuel that propels business success. To help you scale at speed, we bring you the best business loan products from our channel partners - leading banks and NBFCs across the country.
Our experienced business loan agents in India help you compare business loan products, find competitive offers, compute EMIs, and a lot more. With Finbros Capital Advisory, you get 360-degree support to find the best bank for business loans in no time.
Get expert loan assistance and give wings to your business today!

Uses of Business Loan

Different types of business loans are available to help you meet various capital needs. You can use these versatile loans to plug funding gaps or solve cash flow worries.

Purchasing Inventory

Companies use business loans to purchase new inventory and stocks, so they can continue offering its product(s) to customers. Because these loans typically do not require collateral, they are an excellent option for small businesses that do not possess many assets.

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Hiring Employees

A growing business needs a solid team that drives it to success. However, the cost of hiring and training employees can be significant, especially for a small company. Business loans allow you to expand your team without feeling the pinch. Use these loans to recruit and train new employees.

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Upgrading Machinery

The most advanced machinery for your business comes at a high price. A business loan can help you purchase the latest equipment to boost output at scale. With the right loan product, you can finance these expensive yet important purchases without affecting cash flows.

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Marketing Spend

Effective marketing is the road to expanding your business. What’s more, marketing is an exercise that must go on to continually attract new customers. This means you have to invest in hiring top talent or specialist agencies. Pay for all your marketing expenses with a business loan.

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Managing Operational Expenses

It takes a lot to keep a business running day in and out. This is why companies use a business loan to meet daily operational expenses in case of a liquidity crunch or irregular cash flow. Instead of burning your revenue on operational costs, use a loan to tackle them smartly.

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Eligibility Criteria

A Business Loan can be availed of by anyone, whether you are a salaried employee, government employee, or a working professional. All you have to do is fulfill basic eligibility conditions laid out by banks and NBFCs. While personal loan eligibility conditions can differ across banks and NBFCs, here are some standard criteria you must be:

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Salaried or a working
professional

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Aged between
21 and 60 years

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Having a job and a minimum of
3 months experience

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Having a minimum of Rs. 25,000
net income per month.

Use our Business Loan eligibility calculator to ascertain your loan eligibility and apply for a loan.

Documentation Required

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Photo Identity Proof

  • PAN Card
  • Passport
  • Voter's ID Card
  • Aadhar Card
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Proof of Residence or Address Proof

  • Aadhaar Card
  • Passport
  • Voter’s ID
  • Utility Bills
  • Driving Licence
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Income
Proof

  • Last 12 months’ statements for current and savings accounts
  • Balance sheet and Profit/Loss Account audited by a registered CA for the last two years
  • Last three years of ITRs - both company and individual
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Employment
Proof

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Others

  • PAN Card of the company/partnership firm
  • A certified copy of Partnership Deed agreement
  • GST Registration Certificate
  • Registration of Incorporation
  • Business address proof
  • Articles of Association and Memorandum of Association documents
  • Professional Practice Licence for Consultants, Doctors, etc.

Application Process

  • 1
  • Reach out to us with your business loan requirements.

  • 2
  • Our top business loan advisors will help you select a product aligned with your needs.

  • 3
  • After you've picked a product, check eligibility criteria and compile basic documents. We guide you through the process and help you with the business loan documentation requirement.

  • 4
  • We help you apply for the business loan with the lender of your choice.

  • 5
  • After verifying your application, the lender will sanction your loan.

  • 6
  • If you want to change your loan terms in the future - like switching interest rate or refinancing - our advisors will recommend the best course of action.

Business Loan Lowest Interest Rates

Bank Name Minimum Rate Of Interest(%) Loan Amount Loan Tenure Minimum Processing Fees Apply Now
HDFC Bank 11% Rs. 1LAKH - 50LAKHS 1 - 5 YEARS 1% Apply Now
Bajaj Finserv 15% Rs. 1LAKH - 45 LAKHS 1 - 7 YEARS 1.50% Apply Now
Lendingkart Finance 15% Rs. 1LAKH - 2CRS 1 - 3 YEARS 2% Apply Now
Kotak Mahindra Bank 16% Rs. 1LAKH - 75 LAKHS 1 - 5 YEARS 2% Apply Now
Yes Bank 16% Rs. 1LAKH - 50 LAKHS 1 - 5 YEARS 1.50% Apply Now
ZipLoan 16% Rs. 1LAKH - 7.5 LAKHS 1 - 3 YEARS 2% Apply Now
Axis Bank 17% Rs. 1LAKH - 50 LAKHS 1 - 4 YEARS 1% Apply Now
Fullerton Finance 17% Rs. 1LAKH - 50 LAKHS 1 - 5 YEARS 2% Apply Now
ICICI Bank 17% Rs. 1LAKH - 40 LAKHS 1 - 5 YEARS 1% Apply Now
Tata Capital Finance 17% Rs. 1LAKH - 75 LAKHS 1 - 4 YEARS 1.50% Apply Now
Hero FinCorp 18% Rs. 1LAKH - 25 LAKHS 1 - 3 YEARS 2% Apply Now
IDFC First Bank 18% Rs. 1LAKH - 1CR 1 - 4 YEARS 2% Apply Now
IIFL Finance 18% Rs. 1LAKH - 30 LAKHS 1 - 5 YEARS 2% Apply Now
NeoGrowth Finance 18% Rs. 1LAKH - 75 LAKHS 1 - 3 YEARS 2% Apply Now

Disclaimer: The loan amount, loan tenure, processing fees, loan interest rate & other credit factors may vary from case to case  & are subject to change according to the lender & government policies. (This DISCLAIMER can be used for all the loan products)

Processing Fee

The processing fee on business loans is the amount charged by the lender to process your application and cover various administrative costs. Usually, lenders charge a processing fee of up to 2% to 3.5% of the business loan amount + GST. This is just a one-time fee you pay the lender at the time of disbursement. With Finbros Capital Advisory, you can find business loans with the lowest processing fees that meet your growth needs!

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EMI Calculator

A business loan EMI calculator helps you get a view of the monthly installments you will pay to successfully repay your loan. The EMIs include both the principal and interest components. Simply enter the loan amount, your loan tenure, and the interest rate in the EMI calculator. Always use a calculator before you apply for a business loan. Input different combinations of tenure, amount, and interest to see how you can plan the lowest business loan EMIs.

Business Loan Balance Transfer

A business loan balance transfer happens when a borrower transfers the outstanding loan amount from the existing lender to a new one for the following reasons:
To get a lower interest rate
To get a lower EMI
To get a longer tenure
To get add-on benefits like a top-up loan
If you aren’t satisfied with your current lender for some reason, you can transfer your business loan to another one offering more favourable terms. However, this decision has to be an informed one where you weigh the pros and cons of switching to a new lender well. Take factors like new rate of interest, flexibility in repayment, eligibility criteria, etc. into account.
At Finbros Capital Advisory, we guide on the best time to go for a balance transfer. We hand-hold you through the entire process so you get the best terms on your new loan!
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Documents required for a balance transfer

  • Identity proof – Passport, Aadhar Card, Driving License, etc.
  • Address proof – Aadhaar Card, Passport, Voter’s ID, etc.
  • Bank statements - Last 12 months’ statements for current and savings accounts
  • Income proof - Balance sheet and Profit/Loss Account audited by a registered CA for the last two years, last three years of ITRs - both company and individual
  • Business proof - PAN Card, Partnership Deed agreement, GST Registration Certificate, Registration of Incorporation, Business address proof, AoA and MoA, Professional Practice Licence for Consultants, Doctors, etc.

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Eligibility

Different lenders have their own eligibility criteria. These are some basic conditions you need to meet to be eligible for a business loan:
documentation-icon4 Aged between 21 years to 65 years old
documentation-icon4 Having an annual turnover of at least Rs. 40 lakhs
documentation-icon4 Having a running business for at least 3 years
documentation-icon4 Having a profit-making business for the last 2 years
documentation-icon4 Proprietors, self-employed individuals/professionals, private limited companies, limited liability partnerships, HUFs, and partnership firms doing business in either trading, manufacturing or services are eligible
Having a minimum annual income as specified by the lender, typically Rs. 2 lakhs.

FAQ's

Some of the common business loan uses are:
1. Pay for operational expenses
2. Start a new project
3. Hire more employees
4. Business expansion
5. Restock inventory
6. Buy new machinery

Most business loans are unsecured in nature and don't require collateral. However, some lenders may require you to pledge a security in case of a business term loan.

Below are the most common factors affecting your business loan amount:
1. Your business credit score
2. Business financials, including balance sheets and P/L statements
3. 3 years of business continuity

The maximum loan amount you can borrow typically differs from one lender to another. They can go as high as Rs. 1 crore in some cases.

Most lenders charge up to 3.5% of the business loan amount including applicable GST charges as processing fees. It is usually paid to the lender at the time of disbursement.

Yes, albeit with some terms and conditions. While some lenders allow you to pre-close the loan after the 1st EMI payment, others have a prespecified lock-in period. Not to mention, some levy a penalty fee of 2% to 5% of the remaining balance while others don't levy anything.

MSME loans, as the name suggests, are loans designed for small and medium-sized businesses. These are smaller loans available at high interest rates for day-to-day operation-related expenses. They also have shorter tenures. On the other hand, business loans are usually extended to large and established enterprises, and at comparatively affordable interest rates. These are bigger loans, often going up to crores, with longer tenures. Organisations can use them to fund expansion and diversification initiatives.

The best business loan providers in India offer two types of interest rates:
Fixed interest rate: A fixed interest rate remains the same for the entire business loan term. You pay a fixed EMI amount monthly.
Floating interest rate: A floating interest rate changes according to the Repo Rate or the base rate set by the RBI. However, this change only increases or decreases the loan tenure, not the EMI amount.

Business loan EMIs are calculated using three basic loan components.
1. Principal loan amount
2. Loan tenure
3. Rate of Interest
You just need to input the values in the business loan EMI calculator. The EMI amount and the total payable interest are displayed in a few seconds. Unlike manual calculations, a calculator offers accurate estimations.
Use online business loan EMI calculators to understand your EMI obligations. The calculator will also help you find out which scenarios result in the lowest business loan EMIs!