Business Loan

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About

Get secured or unsecured business loan from India’s leading banks and financial institutions. Loan can be utilised for managing working capital requirement of your business.

Our process

  • Book an appointment with buzzBT
  • At scheduled time our representative will pick the documents
  • Loan is approved from the institution selected by the customer
  • In case of secured loan, legal and technical verification is carried out by the lending bank. Limit is set in customer’s bank account and in case of term loan, loan is disbursed as per the instructions of the customer.

Documents required

  • Application form with photographs of applicant and co-applicant
  • Income documents
  • Proof of Identity: Passport / Driving License / Voters ID / PAN Card (any one)
  • Proof of Residence: Leave and License Agreement / Utility Bill / Passport (any one)
  • In case of secured loan, property’s legal and technical documents

Rate of interest and processing fees

  • ROI and processing fees depends upon customer profile and respective bank policies

Personal Details

Appointment Details

Our Business Working Hours

Monday to Saturday : 09:00 AM to 06:00 PM

Sunday : Closed

When to take Business Loan?

You can choose to borrow money to fund your business when:

  • The business needs liquidity for expansion
  • Mismatch in your cash inflows / outflow
  • Return on capital is higher than the loan interest

  1. Professional Loans:
    1. Professional loans are extended to selfemployed professionals such as doctors, chartered accountants and lawyers, based on their individual credit history. 
    2. Trade Loans:
  2. Type of businesses that can apply for Trade Loans are:
    1. Sole Proprietorships
    2. Partnerships
    3. Private Limited Companies

Although it varies from bank to bank, the basic criteria are more or less the same, such as:

  • Business should have been:
    • Business continuity
    • Business profitability
    • Positive Net worth

  • Credit Rating or CIBIL Score of Individual Promoters or Proprietors or Directors
  • Cash Flow Status of the business in terms of cash credit history with outstanding payments, liabilities, etc. 
  • Type of business: Most businesses can be classified depending upon the nature of their business into Cyclical, Defensive or Growth company. It also depends upon the stage and maturity of the business.
  • Collateral is the easiest way to fund a loan as it becomes a secured loan as against an unsecured one without collateral.

The collateral can be provided on a personal guarantee by the promoters of the company or the sole proprietor to avail the loan and the banks find it much easier to provide and sanction the same as it becomes a secured loan with collateral. Collaterals are most commonly seen as real property, business inventory, cash savings or deposits, vehicles and equipment. No security is required if it is an unsecured loan.

Generally banks have minimum tenor of 12 months and maximum of 48 months.

You can repay through either Postdated Cheques or ECS.

Download our app buzzBT, book appointment with solution manager, call us, chat with us. You can also visit our website www.buzzbt.com for more information.

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