Whether you want to launch a new business or revamp an existing one, raise working capital, or buy new machinery, funds are necessary. There are times when a business owner does not have enough funds to meet these requirements, and that is where a business loan from ZipLoan comes in play. A small business loan from ZipLoan is a credit facility that helps business owners by providing them access to quick and hassle-free funds.
No balance sheet needed
For a business with turnover of 10L+
Straight into your account
After first 6 months
With loans up to Rs. 7.5 lakh, small business owners can fund their business in just 3 days*. The funds can be used to improve infrastructure, upgrade machinery, maintain inventory, increase working capital, or expand operations. When you secure a business loan from ZipLoan, you are able to access a multitude of features:
Easy Funding: ZipLoan offers quick business loans ranging from Rs. 1 lakh to Rs. 7.5 lakh at the most competitive interest rate with the tenure ranging from 1 to 3 years.
Flexible Repayment: With our flexible repayment tenure option, the business owner can repay the short-term business loans as per his business revenue. He/she can choose between 12/18/ 24/36 months.
Unsecured Business Loans: ZipLoan offers collateral-free loans, i.e. there is no need to hypothecate asset with us to avail the funds. This gives business owners access to SME lending who earlier could not get access due to unavailability of an asset for hypothecation.
Online Loan Application: The business owners have the convenience to apply for a business loan online. There is no need to visit our office in person, but one can apply for a loan for business without security online on our website or mobile App.
All these factors together make our business loan offer the best when compared to the small business bank loans. In all, we are committed to making getting a business loan process easy and a pleasant experience for the customers. If you need a business loan, you can apply online and get online business loan approval. Our business loan procedure is very simple and we offer fast business loans.
ZipLoan is an RBI registered NBFC that offers unsecured business loans of up to Rs. 7.5 lakh to MSMEs in India. With the aim to build enduring relationships with the customers, we tend to provide the best to our customers. The following are the benefits of availing business loan from us:
No Collateral Requirement: We do not require any collateral to grant you a business loan.
Online Application: The applicant can apply online for a business loan without collateral by visiting our website or our app.
Minimal Documents: We require minimum documents to process the loan application, which can be easily uploaded on our website or mobile App.
Easy Eligibility: Our business loan eligibility is easy to meet. We require a business to have a turnover of Rs. 10 lakh and vintage of at least 2 years.
We offer the best business Loans, which are built to meet varied business needs. The following are our business or commercial loan products:
Working Capital Loans: Sufficient working capital is imperative for a business to run efficiently and successfully. It is required to fund day-to-day operations. In case a business owner is running out of working capital, he can avail a working capital loan from us to meet his working capital requirements.
Machinery Loans: Machinery or equipment is critical for production or any other business. The production of products or services much depends on the quality of machinery. But the machinery is generally expensive and often requires enormous investment. Therefore, an MSME loan without collateral can be an ideal option to meet this investment.
MSME Loans: MSMEs in India often face difficulties in getting a business loan. Their requirements are small, whereas most lenders offer business loans of significant amounts. Our business loan starts from Rs. 1 lakh to meet their smallest of the needs.
Business Loan for Women: According to the reports, women contribute around 14% of the total businessmen in India. This is a significant number, and to promote women entrepreneurs in India, we offer business loans for women.
We offer business loans to eligible micro, small, and medium enterprises. The business owner must meet the following conditions to fulfil the business loan eligibility:
Business turnover of more than Rs. 10 lakh
The business owner should own either a business place or house
Business vintage (operations) for at least 2 years
Last year ITR of more than Rs. 1.5 Lakh
A business loan can help business owners to take the business to the next level. Using our online business loan EMI calculator, the business owners can get a clear picture of how the business loan interest rate will affect his monthly outgo. Our EMI calculator is simple to use. Just enter the amount, tenure, interest rate, and the entrepreneur will know the EMI he has to pay.
Business loan documents serve as proof for the information provided. We require minimal documentation to process the loan application, thus assisting to ease of getting a business loan. The business owner can upload the soft copies of the documents on our website or mobile App. The following are the documents that we require:
Bank statement (previous 9 months)
ITR of the last 2 years
House and business place address proof
Applying for an MSME loan with us is an effortless task. The business owner just needs to visit our website, fill the business loan application form, provide us with some basic details (personal and business), and our executive will call him. Else, he can also download our mobile app and fill the loan application form from anywhere and at any time. After filling the form, he can upload the soft copies of the documents, and he is done. Next, our executive will call him to assist in the further application process.
What is a business loan, and how does it work?
A business loan is a credit facility that is designed to help business owners by providing funds promptly. A business owner can increase working capital, buy raw material and inventory, pay debts, and meet all other business requirements with a loan for business.
Why should you take a business loan?
A business loan provides capital for business expansion and helps business owner meet all short and long term financial requirements. In the initial phase of the business, the business owner can use the MSME loan for new business for the basic needs, whereas he can maintain the growth momentum with the loan during the growth phase.
How can I get a business loan?
To avail a small business loan, the business owner can visit our website and fill the loan application form online. Or he can also apply through our mobile application.
Who can get a business loan?
Any business owner with business operations of more than 2 years can avail an SME loan from us.
What is a good credit score to get a business loan?
Generally, most lenders offer a business loan to borrowers with a minimum CIBIL score of 550. However, the closer the score is to 900, higher are the chances of getting the loan on low-interest rates.
What types of businesses qualify for a business loan?
Businesses with more than 2 years of vintage qualify for a business loan. Besides, their previous year’s turnover should be more than Rs. 10 lakh and they must have filed an ITR of more than Rs. 1.5 lakh in the last year.
What documents will I require to get a business loan?
The following are the documents required to apply for a business loan:
Bank statement (previous 9 months)
ITR of previous 2 years
House and business place address proof
How can I know what my EMI amount is?
To know the EMI amount, a business owner can use our business loan EMI calculator. All he needs to do is fill the loan amount, tenure, and interest rate, and he will get the EMI amount.
What is the maximum loan can I get for my business?
The maximum business loan amount that we offer is Rs. 7.5 lakh.