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Key Features of Unsecured Business Loans

No Collateral Required
Faster Approval Process
Higher Interest Rates
Flexible Use of Funds
Higher Costs


Simply put, a business loan is a type of finance that entrepreneurs avail from time to time to strengthen or enhance their business. If you are also someone who wants to expand his enterprise or make fresh purchases you can rely on credfy to help arrange maximum unsecured business Loan in 5 days for you in a most hassle-free manner and at most reasonable rates through its NBFCs and banking partners.

The loan amount at credfy starts from 3 lakh onwards. Simple and uncomplicated documentation awaits the applicants here. The tenure of the loan here ranges from 12 to 48 months while the interest rate may vary from 17 to 25% depending on the applicant’s eligibility.

To get instant business loan through credfy it is important that the applicant fulfills at least one of the following points:

Self Employed

Private limited or Limited firm

Manufacturer or service provider

Aged between 21 and 65 years

Should Be in business for 3 years

Turnover Should be at least 50 lakhs per annum with a minimum of 2 lakhs of profit

Imperative to submit the last 3 years of ITR statements

The loan that one can avail through credfy depends on the annual profit of the organisation, the number of years it is into existence, cash flow, as well as other sources of revenue generation. Once the bank has weighed in all the factors, it decides the amount a business should get. It must be noted that profit that any entity makes as well as the repayment capacity of the applicant form the major determinant factor in case of business loan.

We, at credfy, are proud to be India’s no. 1 unsecured business loan providers. Entrepreneurs require capital at various stages in their businesses. Be it at the very onset or at different stages of expansion. We, therefore, have strived to make the entire process of procuring unsecured business loan against bank guarantee hassle-free and uncomplicated.

Some of the advantages of our offerings in this category are:

Loans Available for Every or Any Business Venture - We offer cash credit limit against unsecured business loan ranging from Rs. 10 to 40 lakhs. We are pledged to support enterprises with their fund requirements.

Flexi Tenures - We offer flexi tenure to the entrepreneurs which are of great help to them. They can opt for any tenure between 12 and 36 months and make the repayments without any hassles.

Hassle Free Application - We have made availing loan extremely simple and easy. All that any applicant is required to do is to follow the instructions and the entire process can be completed and the application submitted without any problems.

Low-Interest Rates - credfy offers unsecured business loan at lowest interest rates. Our interest rate in this category ranges between 17 and 25% depending on the eligibility of the applicant.

S.NO Bank/NBFC Bank/NBFC Code Business Loan (ROI)
Self Employed
Business Loan (Processing Fees)
Self Employed
1 IDFC FIRST BANK  21605 18% 2%
2 FULLERTON INDIA   MA066 20% 2%
3 STANDARD CHATERED   SMC Investments & Adviors Ltd 16% 2%
4 RATNAKAR BANK (RBL BANK) PANASMCI 18% 2%
5 TATA CAPITAL FINACIAL SERVICES LTD. SMC Investments & Adviors Ltd 20% 2%
6 NEO GROWTH SMC Investments & Adviors Ltd 22% 3%
7 DCB BANK  DEL0293 18% 3%
8 ICICI BANK  194670 17% 2%
9 KOTAK MAHINDRA BANK  185292288 17% 2%
10 INDUSLND BANK  CORP31331 18% 2%
11 AXIS BANK  DSA2330DEL 17% 2%
12 INDIFI SMC Investments & Adviors Ltd 24% 5%
13 LENDINGKART FINANCE LTD. DSA1635 22% 2%
14 EDELWEISS SMC Investments & Adviors Ltd 19% 2%
15 MONEYWISE SMC Investments & Adviors Ltd 22% 3%
16 KAPITAL TECH DSA1228 22% 3%
17 DEUTSCHE BANK  DR415 16.50% 2%
18 DBS BANK  SMC Investments & Adviors Ltd 16.50% 2%
19 BAJAJ FINANCE LTD SMC Investments & Adviors Ltd 18% 2%

credfy offers unsecured business loan without collateral to a variety of small, medium and large businesses. Our offerings also include top-up facilities for applicants who need more credit at a later date.

Who can avail unsecured business loan at credfy?

We offer unsecured business loan to

Sole Proprietorship Firms

Closely Held Limited Companies/Private Limited Companies

Partnership Firms

Self-employed individuals/Professionals

Manufacturers

Retailers

Traders

Enterprises who are in the business for at least 3 years

The company should have a turnover in access of 1 crore

Enterprise’s profit after tax (PAT) of the last 2 years should be positive

Applicant should be not less than 28 years of age and not more than 68 years at the time of loan maturity

Good credit rating score in credit bureau

The documents we expect the applicants to produce are all easy to get. It is our sincere advice that applicants should collect and put together their documents before applying for a loan. This will enable us to process the application swiftly.

The documents that are required at the time of applying for a loan are:

Photo Identity Proof

Passport

Pan Card

Voter Identity Card

Driving License

Aadhaar Card

Address Proof

Ration Card

Passport

Bank Account Statement

Aadhaar Card

Driving License

Electricity Bill

Telephone Bill

Income Proof

Latest ITR

Latest Audited Financials

Last 6 Months’ Bank Statement

A number of reasons make us one of the most favoured collateral free unsecured business loan providers. Our highlights in this category are:

Quick disbursal

Simple and hassle-free documentation

Transparent fees

Details on mobile

Online repayment facility

Customer-centric approach

What is a business loan?

Also known as commercial loan, a business loan is useful in expanding your venture. We at credfy help the applicants in availing unsecured business loan from banking and NBFC partners. We provide loans to a wide range of business from individual proprietors to traders who can avail loan between 10 and 40 lakhs.

Why should I take a business loan?

A business loan provides much-needed capital for the expansion of any business. It is also useful in short or long term financial requirements. Any venture requires capital in different phases. Early on it is required to establish it while later you need to maintain the growth. The need for capital simply cannot be ruled out. credfy arranges this capital for you through its many banking and NBFC partners.

How long does it take to avail business loan through credfy ?

Any application for business loan can be cleared through us within 4 working days provided all the documents submitted are in order.

What is the loan amount one can avail through credfy ?

You can avail unsecured business loan at lowest interest rates between 10 and 40 Lakhs.

Can I get an overdraft facility against the unsecured business loan?

Yes, anyone can get overdraft facility against an unsecured business loan. Overdraft is overdrawing from a current account. Simply put, the account holder takes out more money than what has been deposited in the account at an agreed rate of interest if the overdrawn amount happens to be within the limits of a preceding agreement.