Business Loan
Get impactful loans for your company's financial growth.
Business loans secured by assets, such as cars, properties, or equity, are granted based on collateral value. In the event of borrower default, the lender can liquidate the asset to recover the loan amount, making these loans easier to obtain and offering lower interest rates compared to unsecured loans
Growth & prosperity key
Get the financial aid to boost your business success.
Supercharge your business success with the financial aid you need. Explore our solutions and take your company to new heights
- Flexibility
- Competitive taxes
- Competitive prices
- Fast process
- Improve cash flow
650+
Projects already funded
Features And Benefits
The features and benefits of Secured loans are
- Loans are given against the title of ownership of assets, which will be used as collateral (like homes, vehicles, assets, property).
- Lower interest rates as compared to unsecured loans, because the bank has a higher level of confidence in your ability to repay.
- Loan approval is faster.
- These loans are available to non-salaried individuals.
- Banks and lenders can repossess assets for which loans were taken.
Bill Discounting Loan
They are short term business loans using unpaid bills as security
Cash Credit Loan
Cash credit is a short-term Business loan extended to a company
Machinery Loan
This loan allows to the business to increase its overall productivity
Working Capital Loan
These loans are not used to buy long-term assets or investments
Export Credit Loan
Credit Guarantee Funds Trust for Micro and Small Enterprises
Bank Guarantee Loan
Credit Guarantee Funds Trust for Micro and Small Enterprises
Loan Against Property
This loan is usually taken for expanding business, acquiring assets
Project Loan
Credit Guarantee Funds Trust for Micro and Small Enterprises
The features and benefits of unsecured loans are
- Both salaried and self-employed individuals can apply for unsecured loans
- You can avail a loan amount of up to Rs. 25 lakhs
- For doctors, the borrowing limit is up to Rs. 30 lakhs
- Interest rate is as low as 11.99% and up to 36%
- Tenure is between 12 months and 60 months
- You can foreclose the loan after payment of the initial 6 EMIs
Unsecure Overdraft Loan
Overdraft loans are usually based on some collateral or securities especially in terms of Bank Fixed Deposits. Usually a bank, depending upon the credit history, cash flows, tenure of banking relationship and the repayment
Unsecure CGTMSE Loan
Credit Guarantee Funds Trust for Micro and Small Enterprises (CGTMSE) is a trust established by the Government of India, Ministry of Medium, Small and Micro Enterprises (MSME) and Small Industries Development Bank of India (SIDBI).
Eligibility Criteria
Eligibility Criteria for Secured Business Loan
The eligibility criteria for Secured loans are listed below:
- Minimum age criteria to apply is 21 years, whereas maximum can exceed up to 65 years at time of loan maturity, in some case the age can exceed up to 70 years
- Applicant or business should have good credit score and repayment and financial history
- Appropriate cash flow and security to be shown before availing secured business loan
- Business existence of at least 2 years
- Running business in profit for past 2 years
- Owning at least one out of these properties that include factory, shop or residence
Choose the one that best meets your needs.
How to Apply
How To Apply For An Secured Business Loan?
At Onespot Finance , you can apply for Secured Business loans online or offline. Walk into our nearest branch office for a free consultation and guidance regarding an ideal funding option suiting your needs. Or, you may choose to apply online and get an instant approval for funds. Remember to keep a soft-copy of documents required for Business loan ready for upload in case of an online application
Documents required
Document Required for Business Loan
The list of documents required for a Secured Business loan application includes:
- Passport sized photographs
- PAN Card – For individual, company and firm
- Identity Proof: Passport, Voter’s ID, PAN card, Driving License
- Address Proof: Aadhar Card, Passport, Driving license, Utility Bills (Telephone, electricity bills)
- Business Address Proof: Copy of property documents
- Income Proof: Bank statement of last 6 months, Last 2 years’ ITR, Balance sheet, P&L statement for last 2 years (audited by CA)
- Income tax returns
- Processing fee cheque