Be it expansion, inventory, employing new
software, cash flow, equipment etc, a Business Loan is an ideal option from which
you can raise funds. You either opt for a bank or any other lender whichever
suits your needs. There are numerous online business loan apps that help you get
quick funds for your venture in no time.
What are online business loan apps?
These are mobile applications designed by
different lenders to cater to all the needs of their customers. Just like any
other app, these apps are available for Android as well as iOS users.
Which are the popular business loan apps?
There may be several options to look for
when it comes to small business loans.
Here are the 3 most popular ones you can check out if you need a business loan –
1) Bajaj Finserv App – A business loan is one of the
premium products that Bajaj Finserv has to offer. Bajaj Finserv can offer you
a business loan of
up to Rs 45 lakh in just a few clicks. With the correct eligibility, you can avail
this funding at affordable interest rates. You may need documents like 6 months
bank statement, business ownership proof & KYC documents. Eligibility
includes age – 24 years and above, CIBIL score should be more than 750 and a
business vintage of 3 years minimum.
2) Tata Capital – Tata Capital is
one of the popular lenders in the market when it comes to online business loan. You can
avail funds up to Rs 75 lakh at an interest rate starting from 19%. You can use
this loan to enhance the function of your venture in many ways. Eligibility
includes age range (25 to 65 years), CIBIL score of 700 and above and a
progressive business turnover.
3) HDFC – HDFC bank is one of the
leading platforms for Business Loans. You can avail funds of up to Rs 40 Lakh
with the correct eligibility. Other eligibility criteria are the age range of
21 to 65 years, 3 to 5 years of business experience and at least 2 years of
progressive business turnover.
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