A business loan is a financing facility designed to meet various business needs like working capital, expansion, equipment purchase, inventory management, or any business requirement. It can be secured or unsecured and is sanctioned based on your business vintage, financial performance, and repayment capacity.

The business loan amount depends on your business turnover, profitability, credit score, existing obligations, and repayment capacity. Generally, you can get a loan ranging from ₹1 lakh to ₹5 crores. Your monthly EMI should ideally not exceed 40-50% of your monthly business income.

A credit score of 700 or above is generally considered good for business loan approval. However, some lenders may approve loans for scores between 650-700 with slightly higher interest rates. A higher credit score increases your chances of approval and helps you get better interest rates and terms.

With our streamlined digital process, you can get instant eligibility check within minutes. The business loan approval typically takes 24-48 hours once all documents are verified. The funds are usually disbursed within 48-72 hours of approval.

Yes, you can prepay your business loan either partially or fully. Most lenders allow prepayment after 6-12 months from disbursement. Some lenders may charge a prepayment penalty of 2-5% on the outstanding amount, while others offer zero prepayment charges.

Business loan interest rates typically range from 11.99% to 22% per annum, depending on your business profile, financial performance, industry type, and relationship with the lender. Businesses with excellent credit scores and stable profitability get lower interest rates.