Business Loan in India
A Business Loan is a financial facility offered by banks and financial institutions to businesses for purposes such as expansion, working capital, equipment purchase, or inventory management. It can be secured or unsecured, depending on the loan type.
Key Features:
- Eligibility: Based on the business’s financial health, turnover, and creditworthiness.
- Loan Amount: Varies from ₹50,000 to several crores, depending on the lender.
- Repayment: Typically offered with flexible tenures ranging from 1 to 5 years.
- Interest Rate: Varies based on the loan type and risk assessment.
- Business loans help entrepreneurs and companies meet their financial needs and grow their operations, with various schemes tailored to different business requirements.