In the last few years, India’s SME sector has witnessed unprecedented growth. While there are many factors that have contributed to the sector’s advancement, financial support from lending institutions across the country has allowed businesses to harness in this growth effectively.
Nowadays, individuals looking to fund their establishment can easily apply for a loan from a financial institution of their choice through business loan apps and have it instantly approved.
Steps to avail a business loan through a loan app
To apply for a business or personal loan through personal loan apps, individuals will first have to download a lending institution’s app on their smartphone.
After downloading, they will have to follow these steps below to avail the advance –
Individuals can register on the app by providing their contact number. After the same is verified, they can log in to the app by using the password provided.
Applicants can avail the instant loan application form for the mobile app. They will need to fill out personal, financial and employment details in the form.
Apps such as the Bajaj Finserv app – Experia require minimal documentation for business loan application. Individuals can avail the advance by uploading their KYC documents, business existence proof, financial documents like their bank account statements, etc.
Few financial institutions provide pre-approved offers and other attractive benefits that can allow borrowers to maximise their advantages from the advance borrowed. One can check these offers before applying through these business loan apps.
After following these steps and submitting the application, individuals can enjoy instant approval of their request if they satisfy the eligibility criteria as put forth by their financial institutions. Once approved, the loan is disbursed to the borrower’s account within 24 hours.
Must Read:- What is a Business Loan and Things to Know About it ?
Nowadays, individuals looking to fund their establishment can easily apply for a loan from a financial institution of their choice through business loan apps and have it instantly approved.
Steps to avail a business loan through a loan app
To apply for a business or personal loan through personal loan apps, individuals will first have to download a lending institution’s app on their smartphone.
After downloading, they will have to follow these steps below to avail the advance –
- Register on the app
Individuals can register on the app by providing their contact number. After the same is verified, they can log in to the app by using the password provided.
- Fill the application form
Applicants can avail the instant loan application form for the mobile app. They will need to fill out personal, financial and employment details in the form.
- Upload documents
Apps such as the Bajaj Finserv app – Experia require minimal documentation for business loan application. Individuals can avail the advance by uploading their KYC documents, business existence proof, financial documents like their bank account statements, etc.
- Check pre-approved offers
Few financial institutions provide pre-approved offers and other attractive benefits that can allow borrowers to maximise their advantages from the advance borrowed. One can check these offers before applying through these business loan apps.
After following these steps and submitting the application, individuals can enjoy instant approval of their request if they satisfy the eligibility criteria as put forth by their financial institutions. Once approved, the loan is disbursed to the borrower’s account within 24 hours.
Must Read:- What is a Business Loan and Things to Know About it ?
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