About Business Loan

A business loan is a financial product designed to provide funds to businesses for various purposes, such as expansion, working capital, equipment purchase, inventory management, and other business-related needs. It allows businesses to access capital to grow, manage cash flow, invest in assets, or meet specific financial requirements.

Business loans are offered by financial institutions, including banks and non-banking financial companies (NBFCs). The loan amount, interest rate, and repayment terms are determined based on factors such as the business's financial stability, creditworthiness, loan purpose, collateral (if any), and the lender's policies.

Repayment of the loan is typically done through regular installments over a specified period, which can range from a few months to several years. Interest rates can be fixed or variable, and the loan may be secured by collateral or provided as an unsecured loan.

To apply for a business loan, businesses are required to submit relevant documents such as business registration details, financial statements, bank statements, tax returns, and business plans. Lenders assess these documents to evaluate the business's creditworthiness and repayment ability.

Business loans provide businesses with the necessary financial resources to support their growth, manage operational expenses, seize opportunities, and navigate through challenging times. It is important for businesses to carefully consider their financial needs, evaluate different loan options, and choose the loan terms that best suit their requirements and repayment capabilities. Consulting with financial advisors or loan experts can provide valuable guidance in the decision-making process.

Top Features and Benefits of Business Loan

Flexible Loan Amount

Phone Touch Finance offers flexible business loans with loan amounts of up to ₹30 lacs (or Rs. 30 lakhs). Our business loans provide businesses with the financial flexibility they need to achieve their goals, whether it's expanding their operations, purchasing new equipment, managing working capital, or seizing growth opportunities.

Instant Loan From Multiple NBFCs and Banks

Access instant loans from multiple banks through a single platform. Phone Touch Finance connects you with a network of trusted banks, enabling you to compare loan offers, select the best option, and receive funds quickly. Simplify the loan process and get the financial support you need without the hassle of approaching individual banks separately.

Affordable Interest Rates

By starting from 14.95% p.a. interest rate, we strive to provide businesses with attractive borrowing options that help them manage their finances effectively. We understand the importance of affordability and work towards offering interest rates that are reasonable and competitive in the market.

Free Expert Consultancy

Access personalized guidance and support from our experienced financial consultants at no cost, helping you navigate the loan process and make informed decisions with confidence. Benefit from valuable insights and tailored solutions as our experts assist you every step of the way.

Business Loan - Eligibility

Applicants must be between 21 years and 65 years.
Individuals, MSMEs, Sole Proprietorships, Partnership firms, Public and Private Limited Companies, Limited Liability Partnerships, retailers, traders, manufacturers, and other business entities engaged in only services, trading, and manufacturing sectors.
Business Vintage should be minimum of 1 year or above.
Business experience should be minimum of 1 year, business location to remain same.
Annual Turnover minimum of Rs. 12 lakh and above for existing enterprises, may vary as per the lender.
A minimum CIBIL score of 750 or above.
Applicant must own either a residence, office, shop or godown.

Frequently Ask Questions

What is a business loan and how does it work?

A business loan is a financial product designed to provide funding to businesses for various purposes, such as expansion, working capital, equipment purchase, inventory management, and other business-related needs. It allows businesses to borrow a specific amount of money from a lender, which is repaid with interest over an agreed-upon period.

A business loan works by providing businesses with a lump sum of money that is repaid over time with interest. The loan can be used for various business needs, and repayment is typically done through regular installments according to agreed-upon terms and conditions.

How can a business loan help you?

Human Resource
Building credit for the future
To purchase more inventory
A business opportunity that outweighs the potential debt
business needs fresh talent
Tax payment
To expand your physical location.

For more information, please refer to ELIGIBIITY CRITERIAS

And many more emergency purposes.

What is the Criteria for Business Loan Eligibility?

Age should be between 21 to 65 years
Cibil score must be 750 or more
Business Vintage should be minimum of 1 year or above.
Annual Turnover minimum of Rs. 12 lakh and above for existing enterprises, may vary as per the lender.
Your balance sheet will be examined by a Chartered Accountant who is registered (CA)

How long does a business loan it takes to be approved?

It takes less than 48 hours for acknowledging the business loan. However, the applicant has a higher benefit of fastest loan approval over a good credit score.

Secure the financing you need for your business requirements today

Apply Now

Business Loan