Business Loans in Bangalore

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UnSecured Business Loans:

Based on a sound balance sheet, UnSecured Business Loan is a 3 year term loan for proprietorship, partnership, private limited companies and limited companies.
Generally, these loans are taken by the borrower to start or enhance a business with collateral. To avail this loan, the borrower needs to pledge any of his property or assets. The debt is hence secured against the collateral provided. If the borrower fails to re-pay the loan, the lender takes the possession of the collateral. There are many banks like HDFC, SBI, Shriram City finance etc. that provide you Secured business loan in India. Along with them many financial services too, like karvy financial services, cholamandalam financial services,indiabulls financial services etc also offer Secured Business Loans.

Question 1: Starting a business OR need to enhance your business?
Question 2: Looking for a loan?
If your answers to both the above questions are ‘Yes’, then A star Solutions Loans should be your first choice.

Age – Age between 24-65 is what banks generally prefers.
Current Business Experience – Banks will prefer that your business has been showing stable signs of growth at least for the last 3 years. Some banks give a loan amount up to 60 to 80% of your median annual profits.
Total Business Experience – A bank will prefer if you have been engaged in sustainable business for at least 5 years to consider giving you a loan.

If your business fails, you may lose an asset. That’s one major risk and understand it completely. Keep records of your property / asset’s worth.
Top 3 private banks that have healthy loan growth as per an article are ICICI, Axis and HDFC Banks.

ICICI Bank offers Secured Business finance
Overdraft facility for retail businesses with vintage of 6 months or more.
Cash Credit/Overdraft/Export Credit and Non fund based facilities for manufacturers, traders and Service providers with vintage of 1 year or more.Term Loans for purchase of commercial assets & business expansion needs.

HDFC Bank offers Secured Business finance.
Funds available for business expansion, working capital, child’s education or home renovation Speedy approvals.

AXIS BANK offers Secured Business finance

Frequently asked questions on Unsecured Business loan approvals.

  • What Is Your Approval Rate?
    -The approval rate is high if you fall under the eligibility criteria.
  • Is There a Fee To Have business loan Released?
  • How Long Does It Take to Get Approved?
    -Approvals can happen in a matter of days.
  • How Long Does It Take To Get The Funds?
    -Processing of the loans usually take 4 working days after all the documents are submitted.
  • Can I Pay the Loan Back Early ?
    -Yes. You can pre-pay the loan after repaying a min. of 6 EMI’s. Foreclosure charges would be applicable as per the banks term and condition.
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