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Overview

What is Business Loan ?

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Volatile market trends and increasing business needs cause demand for urgent immediate cash-in-hand. A Business Loan designed for this purpose gives you the advantage to avail unsecured credit at competitive interest rates.

Whether you plan to invest in infrastructure investment or upgrade plant and machinery, a Business Loan caters to all your commercial needs.

Advantages

Business Loan Features and Benefits

Affordable High-Value Capital

Well-known banks and NBFCs offer easy and quick short-term, medium-term, and long-term business loans as an ideal finance solution for your enterprise.

Flexi Loans

Withdraw only what you need and repay to suit your business fund flows at nil or low prepayment charges. You only pay interest on EMIs for the initial period of the loan and interest is charged only on the amount withdrawn.

Hassle-Free Quick Unsecured Loans

Business Loans are unsecured loans approved in 24 hours, which come to you with easy eligibility, and just a few documents.

Multi-Purpose End-Usage

Whether you're looking for investment in infrastructure, expansion in operations, purchase of equipment or inventory, or working capital needs, you have the advantage to seek a multi-purpose business loan, all in one place.

Collateral-Free

Business Loans are collateral-free, for which your personal or business assets are not put to risk, and since this means no appraisals of assets for valuation, you have the quick approval and disbursal advantage.

Online Account Access

You're simply free with the convenience of access to your business loan account for your loan statements and other details so that you can manage your loan from anywhere at any time.

Business Loans Types

Different Types of Business Loans for Your Varied Needs

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    Working Capital Loan

    Working Capital Loans are finance designed to maintain healthy cash flows with unsecured finance to strengthen and grow your business without disruptions.

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    Plant and Machinery Loan

    You can install and upgrade your business plant and machinery to the latest standards to meet your growing business needs with plant and machinery or equipment loans.

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    SME and MSME Loan

    Small and Medium Enterprises are now in a position to expand operations, and scale business heights easily with SME and MSME Loans.

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    Business Loan for Women

    Especially designed for the women entrepreneurs, Business Loans for Women offer high-value finance to support growing business needs of women.

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    Self Employed Professional Loan

    Professionals such as Doctors, Chartered Accountants, and Architects are people who have little time at hand to attend to their professional finance needs. Hence, Self Employed Professional Loans are loans designed suit such a Professional's financial requirements.

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    Micro Business Loan

    Small business loans are a way to finance small requirements, and as such are designed to be repaid in shorter loans periods to suit your needs.

Trust

What Makes You Choose Us

At Ruloans, we are committed to making life and business effortless for you. We are keen to assist you in your quest to be a 'Successful Entrepreneur'. Our uncomplicated, competent, and professional business loans process makes us exclusive. Trust us, you'll thank your stars that you're with us!

  • Easy Availability

    Ruloans along with significant 100+ partner Banks across India spread over 1000+ locations extend Business Loan to all eligible individuals across India.

  • High-Speed Process

    At Ruloans, Adhaar based e-KYC speeds up the documentation process by eliminating physical paperwork. You can obtain a Business Loan with minimal documentation in no time.

  • Ruloans Digital Resources Advantage

    You can think about loan costs, offers, and online services on our digital platform. Our online resources will direct you to settle on the right decision, and pick the right bank for your advance according to your financial plan and assumptions.

  • Professional Guidance and Advice

    Experts at Ruloans know the ins and outs of the business. Our committed group of individual specialists will guide you to pick the right lender.

  • Profit from Best Offers

    We esteem our clients and are consistently on our toes to give them advantages of our abilities. Applying for Business Loan through us gives you an opportunity to benefit from the best offers and agreements our Partner Banks and NBFCs have on offer.

How to Apply for a Business Loan

Avail business finance quickly with Ruloans easy application process

The process to access funds in the form of a Loan Against Property will involve the following steps, which are explained in brief below:

1

Online Application

Fill out your 'Basic Details'

2

Document Submission

After you receive your 'Loan Eligibility', choose your 'Financial Institution', and upload 'Required Documents'

3

Verification

The Institutions will 'Verify' your Business Loan application, and submitted documents

4

Approval

Your Business Loan will be 'Sanctioned'

5

Disbursal

Receive your 'Business Loan Amount' in your Bank Account - Simply Efficient!

Getting Started

Frequently Asked Questions

Running a business means paying for business related expenses. Funds are a pre-requisite for expenses such as start-up expenses, business expansion, working capital, etc. When adequate funds are not available, businesses can avail funds from external lenders such as Banks and NBFCs for such expenses, and the funds that are availed are known as business loans. Thus, business loans are debts that a company must repay in accordance with the terms and conditions in the loan agreement.

To apply for a business loan, go to the Business Loan page and select from an array of options offered by Ruloans Partner Banks and NBFCs to apply.

Depending on the lender you select, you can get a business loan for salaried persons; this however depends on the eligibility criteria applicable.

Most Banks and NBFCs offer minimum Rs. 50,000 as a business loan.

Banks and NBFCs offer funds as business loans after keeping assets as collateral or security. The assets are first valued, and the terms and conditions of the business loan are then decided for your loan agreement.

Listed below are a few benefits of a business loan
  • Flexible Uses
  • Convenient and Easy
  • Reasonable Rates of Interest
  • Profit Sharing not Required
  • Collateral Free
  • Working Capital Support
  • Multiple Loan Options
  • Tax Benefits

A number of Banks and NBFCs offer start-up loans at attractive rates of interest and flexible terms and conditions.

There are a number of Banks and NBFCs, other than the government who offer start-up business loans. Some of the government loans you can avail are as follows
  • Bank Credit Facilitation Scheme
  • Pradhan Mantri Mudra Yojana (PMMY)
  • Credit Guarantee Scheme (CGS)
  • Standup India
  • Sustainable Finance Scheme
  • Mudra Loan Scheme
  • The Credit Guarantee Scheme (CGS)
  • Stand Up India Scheme
  • Coir Udyami Yojana
  • National Bank for Agriculture and Rural Development (NABARD)
  • Credit Link Capital Subsidy Scheme
  • National Small Industries Corporation Subsidy

Once your lender completes verification, your business loan will be sanctioned, and you will be informed about approval along with the rate of interest and terms and conditions. Once you sign the loan agreement, your business loan amount will be disbursed into your bank account. However, you may also check the status of your loan approval online.

Most business loans offered by banks and NBFCs are unsecured business loans, hence business loans can be availed without collateral.
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Eligibility Criteria & Calculator

Frequently Asked Questions

Banks and NBFCs offer business loans after categorizing the applicant's profession. Self Employed Professionals are categorized as follows
  • Self Employed Professionals (SEP)
    • Nature of Employment
      • Doctor
      • CA
      • CS
      • Architect
      • Engineer, etc.
  • Self Employed Non Professionals (SENP)
    • Nature of Employment
      • Trader
      • Commission Agent
      • Contractor, etc.

Eligibility criteria to avail Business Loan are as follows

  • Turnover: Minimum Rs. 60,00,000
  • Experience
    • 5 years overall business experience
    • 3 years current business
  • Business must be profitable for last 2 years
  • Age: Minimum 25 years to a Maximum of 65 years
  • 2 years paid Business Income Tax Returns
  • Strong Credit History

Companies applying for business loans are categorized as follows

  • Partnerships / Proprietorship
  • Limited Liability Partnerships
  • Private Limited Companies
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EMI Calculator

Frequently Asked Questions

The Ruloans Business Loan EMI calculator computes your EMIs fast, quick, and easy. The following form fields are indicated on the calculator
  • Loan Against Property Amount
  • Interest Rate
  • Loan Tenure (In Months)

The slider method does require you to key in the preferred numbers. Moving the slider to the required range from a given range gives you results at the same time. The results are displayed as follows

  • Loan EMI
  • Total Interest Payable
  • Total Payment (Principal + Interest)

Calculate your Business Loan EMI now

Your Loan EMI depends on three factors.

  • Loan Amount or Loan Value
  • Rate of Interest
  • Loan Tenure or Period of Loan

Use the following mathematical formula to calculate you EMI.

EMI = P x r x ( 1 + r ) n / [ ( 1 + r ) n - 1 ]

Where,

  • P = Loan Amount
  • R = Rate of Interest
  • N = Loan Tenure in Months
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Interest Rate & Processing Fees

Frequently Asked Questions

Interest Rates on Business Loans start at 16%.

Depending on your lender, you may choose between fixed interest rates or floating interest rates when you avail a business loan.
Documents Required

Frequently Asked Questions

To prove your eligibility for a Business Loan, you will have to furnish documents with regards each eligibility criteria. The followings documents are required for a Business Loan
  • Filled Application Form
  • 3 Passport Size Photograph
  • Photo Identity Proof
  • Proof of Age
  • Address Proof
  • Income Proof
  • Income Tax
  • Employment Proof
For more details also check additional documents required for Self-Employed, Non-Salaried, MSMEs, and SMEs
Balance Taransfer & Topup

Frequently Asked Questions

Most banks and NBFCs offer business loan balance transfer facilities to transfer your outstanding business loan from your existing lender to a new lender.
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