Use our Business Loans to Scale Up

Running a business is hard work, especially when your business is small and growing fast. Regardless of the size of your business, you will need funds to act on market opportunities.

Business loans can help you scale up, fulfill large orders, and even hire workers to meet the seasonal demands.

Fast, Simple & No Collateral Required

However, securing a small business loan from banks may not be the best idea, as the process is lengthy, usually requires collateral and a lot of paperwork. Also, banks may not entertain the idea of a small-ticket short term loan, for working capital and seasonal needs of a small business.

That is why medium and small business owners need online business loans more suited to their needs of securing funds quickly and without collateral.

Benefits of Small Business Loan

Online small business loans offer MSME business owners multiple benefits, such as:

Small Ticket Size, Readily Available

Secure business loan starting from Rs. 10,000 up to Rs. 5 Lakh. You can secure a business loan within minutes, just select the correct loan for your needs and apply online.

Fulfill Liquidity Needs

You can secure a small business loan quickly to meet immediate cash needs of the business. Flexible repayment conditions allow you to repay the loan whenever your business has a surplus.

Meet Financial Obligations

Many times, invoices from vendors start to pile up before your own invoices are cleared. Online business loans can help you to avoid such delays and maintain your goodwill in the market.

Meet Tax Payment Shortfalls

Quick disbursement and small ticket size of the loan helps you secure even the smaller amounts and avoid unnecessary additional interest burden.

Affordable Capital

Business loans interests are generally lower than the equity investor’s return expectations. Thus, having a little debt in your books helps you improve the return on equity from your business.

Build Credit Score

Often new businesses require a credit score if they are out looking for their first big-ticket business loan. Small business loans can help you build a solid credit history in the early phases of your business.

Advantages of our Business Loan

Getting a loan for your small or medium-sized business is now easier than ever. Unlike business loans from banks, small business loans from us need fewer documents, zero collateral, and only about two working days.



Online Application for Business Loan

You can apply for the business loan sitting in your office or home. Just follow the steps given under "How to Apply for Business Loan Online?" and complete your application. You can also submit all the documents online.

Instant Loan Approval

Your small business loan application only takes about 48 hours to process, and the loan can be approved once all the documents are in order.

No Collateral

One thing which stops most small and medium-sized businesses from availing a bank loan is the availability of collateral. However, our small business loans are essentially collateral-free.

Minimal Documentation

With collateral-free loans, you can secure a loan quickly and far easily with simpler documentation. These collateral-free online business loans only need four types of documents from businesses – identity, address, income, and business proofs. (check Documents Required for Instant Business Loan for more info)

Daily Repayment

Daily repayment option is also one of the amazing features of our small business loans. Daily repayment means that you can repay the loan partially any day you have surplus cash. Daily repayment can help you reduce your cost of borrowing when you make early repayments.

Who should apply for Business Loan?

Ideally, any registered or unregistered business operating in India can apply for a business loan. However, with LoanSimple, we take pride in helping the medium and small enterprises secure funds when they need. So, if you are running any one of the following businesses, apply for a quick business loan at LoanSimple:

Kirana/Grocery Stores
Mom and pop stores
Pharmacies
Stationary Shop
Restaurant
Apparel Store
Accessories Selling & Repair
Automobile Accesoories



Types of Business Loan for Your Needs

You can apply for business loans based on your needs. Different types of business loans are specially designed for different business activities. For example, you can meet your working capital needs with a working capital loan, while machinery purchase needs can be met using equipment and machinery loan.

SME & MSME Loan

40 Million+ small and medium enterprises in India contribute up to 40% of India’s GDP, and thus play an important role in the Indian economy. LoanSimple understands the challenges of the businesses which include – Kirana stores, stationery shops, and retail ventures, including pharmacies.

Therefore, special small business loans designed for small and medium business needs, with zero collateral, low interest, the quick disbursal, and easy repayment options.

Working Capital Loans

Working capital is the lifeblood for any business, and when you need to meet the festive rush, it pays to invest a little more in the working capital. LoanSimple offers you a line of credit starting as low as Rs. 10,000 up to Rs 5 Lakh. Easy repayment conditions and fast disbursement makes LoanSimple the best choice for you to fulfill your working capital cash shortages.

Business Loan for Women

If you are a businesswoman and running your business for more than a year, LoanSimple has an easy line of credit available on your fingertips. Secure a quick loan to manage your business’s cash shortfalls or scaling needs. Easy repayment conditions ensure you have all the control over the borrowings.

Unsecured Business Loans

Unsecured business loans are those loans where an asset is not involved directly. These loans do not require collateral or security of an asset. Lenders can disburse unsecured business loans simply based on the financial information or the credit score of the business.

A good credit score is helpful if you want to get an unsecured business loan at low-interest rates. Business loans at LoanSimple are unsecured loans.

Collateral Free Business Loan

Business loans which do not require another asset as financial security from borrowers are called collateral-free loans. Most small and medium business loans are collateral-free, low cost, and come with a flexible repayment tenure. However, if you are looking for a bigger amount, you may need collateral.

Equipment Machinery Business Loan

Equipment and machinery business loans are designed to help businesses acquire equipment for their business operations. Large machinery loans can have the machine as collateral. However, for smaller loans, such as LoanSimple Small Business Loans, you will not need collateral.

How to apply for Business Loan
Online?

At LoanSimple, we understand the paucity of time and needs of small business owners. You can apply for a new business loan online following the steps given below:

  • Step 1: Check Eligibility
    (At least 1-year old business with a minimum revenue of Rs. 2 Lakh per month)
  • Step 2: Fill Up the Online form
  • Step 3: Upload the Documents as per your Loan Needs
  • Step 4: Loan Approved and Disbursed in 48 Hours
  • Step 5: Start Repayments

Documents Required for Instant Business Loan

There are two loan groups available at LoanSimple based on your funding needs:

For Loans of Rs. 10,000 to Rs. 1 Lakh
  • Identity & Address Proofs: PAN, Aadhaar & Residence Proof
  • Financial Status: 6 months bank statement
  • Business Proofs: Shop Photos & Selfie with shop signboard
For Loans of Rs. 1 Lakh to Rs. 5 Lakh
  • Identity & Address Proofs: PAN, Aadhaar & Residence Proof
  • Financial Status: 12 months bank statement
  • Business Proofs: Shop Photos & Selfie with shop signboard

Frequently Asked Questions

What is a Business Loan?

A business loan is given to businesses and business owners for the specific purpose of business-related activities, which may include working capital, expansion, equipment purchases, etc.

Why should I take a business loan?

Business loans can ease out your need for the funds in the business. A quick business loan can help you meet sudden demand rush, invest in expansion or getting in new equipment.

How much loan can I avail for my Business?

Your eligibility for a business loan depends on the turnover of your business. At LoanSimple, you can get business loans ranging from Rs. 10,000 to Rs. 5 Lakh if your minimum monthly turnover is Rs. 2 Lakh.

What are the documents required for a Business Loan?

You will need basic KYC documents for a collateral-free business loan. For example, identity and address proof, along with bank statement for business, and proof of business existence will suffice for your business loan application at LoanSimple.

Who can I get a Business Loans?

You can get a business loan up to Rs. 5 Lakh by simply completing the online application form and submitting all the documents on LoanSimple.com. For more info, check How to Apply for Business Loan Online?

What are the loan tenure options for Business Loan?

The tenure can vary from 6 months to 36 months, depending on your need and loan amount. Longer tenure makes it easier for you to repay the loan as regular payments can be smaller.

When are you eligible for top-up loans?

Once your initial loan has been approved, you can apply for a top-up anytime you need. First loan approval and disbursal take up to 48 hours. Thus, you can apply for a top-up loan after that.

What interest rate and processing fee is charged?

Processing fee on business loans varies from 1% to 2% of the loan amount. While interest rates are based on the prevailing market rate of interest, small business loans enjoy lower interest rates than prime business loans from banks.