Do you need quick cash to grow your business, buy new equipment, pay your suppliers, or cover any other urgent expenses? If yes, then an instant business loan might be the perfect solution for you.
An instant business loan is a type of unsecured credit that you can apply for online and get the funds in your bank account within a few hours or even minutes. You don’t need to provide any collateral, guarantor, or business plan to qualify for this loan. All you need is a good credit score, a steady income, and a valid business proof.
Sounds too good to be true, right? Well, it is possible, thanks to the technology and innovation of some of the leading online lenders in the market. In this article, we will tell you how to get an instant online business loan in just a few seconds, and what are the benefits,
eligibility, and options available for you.
Benefits of an Instant Business Loan
Getting an instant new business loans has many advantages over traditional loans, such as:
- Fast approval: You can get an instant decision on your loan application within minutes, and the money will be transferred to your account within a few hours or the same day.
- Flexible repayment: You can choose a repayment term that suits your cash flow, from 3 months to 5 years. You can also prepay or foreclose your loan without any penalty charges.
- Low interest rates: You can get competitive interest rates starting from 10.99% per annum, depending on your credit profile and loan amount.
- Minimal documentation: You don’t need to submit any physical documents or visit any branch to get an instant business loan. You can simply upload your digital copies of your identity proof, address proof, income proof, and bank statements online.
- No collateral or guarantor: You don’t need to pledge any asset or involve any third party to secure your loan. Your loan is based on your creditworthiness and repayment capacity.
Eligibility for an Instant Business Loan
To qualify for an instant business loan, you need to meet the following basic criteria:
- You must be a citizen of India and above 18 years of age.
- You must have a registered business that is operational for at least 6 months.
- You must have a minimum monthly turnover of Rs. 50,000 or more.
- You must have a minimum credit score of 650 or more.
How to Apply for Business Loan Online
Applying for an instant business loan online is easy and convenient. You can follow these simple steps to apply for business loan and get the funds you need in no time:
- Choose a lender: Compare the features, terms, and reviews of different online lenders that offer instant business loans.
- Fill the application form: Visit the lender’s website and fill out the online application form with your personal and business details. You will also need to provide your loan amount, purpose, and repayment tenure.
- Upload the documents: Upload the digital copies of your identity proof, address proof, income proof, bank statements, and business proof. Make sure the documents are clear and valid.
- Get the approval: The lender will verify your details and documents and give you an instant decision on your loan application. If approved, you will receive a loan agreement that you need to sign and accept online.
- Get the funds: The lender will transfer the loan amount to your specified bank account within a few hours or the same day. You can then use the funds for your business needs.
Popular Option for an Instant Business Loan
Lendingkart is one of the most popular online platforms for instant business loans. You can get a loan amount ranging from Rs. 50,000 to Rs. 2 crores, with interest rates starting from 15% per annum. The repayment tenure can be from 6 months to 36 months. You can apply for a loan online in 3 simple steps and get the funds within 72 hours.
An instant business loan is a great way to get quick and easy access to funds for your business needs. You can enjoy the benefits of fast approval, flexible repayment, low interest rates, minimal documentation, and no collateral or guarantor. You can also compare and choose from various online lenders that offer instant business loans in India. So, what are you waiting for? Apply for an instant business loan today and take your business to the next level.