Banking and NBFC finance still remain the mainstay of India’s small and medium enterprises. Business loans help your small business grow, allowing you to invest in infrastructure, operations, and plant and machinery. Moreover, business loans can also be a veritable medium of maintaining Business for critical business operations. Customized business loans are a new category of business loans which are tailored to meet the specific needs of a new age business or startup. These loans offer your enterprise the opportunity to scale and give it the competitive edge necessary for success in today’s world.
Features of RapidLoans Business Loan
RapidLoans offers customized business loans for small and medium businesses in India. Our loans are free from the bureaucratic red tape that often accompanies bank loans and have a very straightforward application, approval and disbursal process. We have designed a fast and efficient digital interface that minimizes human interaction and thus helps in speeding up the whole ‘taking a business loan’ process.
We offer business loans of ₹ 50,000 up to ₹ 2 Crore to eligible SMEs. Our wider loan window increases the chances of business loan approval and provides you the funds needed for growth and expansion of your venture.
We have taken loan processing times to the next level through our Online Only loan application process. It allows us to by-pass a lot of manual work and provide same-day loan approvals.
RapidLoans structures a proposal basis the financial requirement of the business owner post analysis of current financials and basis future business projections. Under our panel of senior members, we accordingly nominate the right financier to process the loan application.
A business loan from RapidLoans does not put your valuable assets on risk. We offer unsecured business loans that do not require any collateral or security. So, you don’t have to worry about developing your capital assets anymore.
Interest rates are subject to credit rating and based on lending rates of the bank.
Loan tenure is upto a max period of 36 to 48 months which vastly extends the credit relief for your business.
Last but not the least, RapidLoans business loans can be repaid in monthly or bi-weekly EMIs. Our EMI options allow you to pace your repayments as per your invoicing and sales cycle, for example, if your sales are going great, you can repay your business loan two times faster with the bi-weekly EMI option.
Benefits of Business Loan by RapidLoans
Business loans from RapidLoans are enable you to redraw your business strategies for matching today’s agile work environments. Here are the benefits of taking a business loan from an NBFC like RapidLoans.
– Faster processing:
Faster processing means faster credit for your business, allowing you to explore new horizons and exploit opportunities as they come your way. A timely business loan can expand your marketing potential, speed up your operations, and eventually increase your profit margins.
– Preserving your ownership:
Since it is an unsecured business loan, you are at no risk of losing valuable assets or giving up precious company stock in lieu of investment. So, a RapidLoans business loan allows you to preserve your ownership while also providing you with the funds to grow your enterprise.
– Streamlines your cash flow:
RapidLoans business loans increase your window of opportunity by providing both capital and time for you to streamline your cash flow and get into profitable territory. These loans allow you to strike a balance between your Business fund and company capital fund by providing investment that can be repaid in instalments.
– Improve your credit score:
An NBFC loan from RapidLoans is the best way to improve your business credit score as we report loan accounts to all credit bureaus. Moreover, a business loan with RapidLoans is especially beneficial for companies witnessing a recent dip in credit score due to unforeseen market conditions.
Eligibility Criteria for Business Loan
RapidLoans has kept the eligibility requirements to the bare essentials in order to process business loans faster. We do not require too many documents or unnecessary paperwork that can hold-up the loan approval process.
- An established business that has been in operations for more than 12 months
- A minimum turnover of ₹ 50 lakhs.
- The business should not fall under blacklisted / excluded list for SBA finance.
- The physical location of your enterprises should not be in the negative location list.
- Trusts, NGOs and charitable institutions are not eligible for small business loans.
3 simple steps to your Business loan
Simply enter your personal, business and financial info to receive a business loan offer.
Upload digital copies of your documents in a single step process for verification.
Receive your business loan approval and disbursal within 3 working days.