💼 Business Loan
Fuel Your Growth with the Right Funding
Whether you’re starting up, expanding operations, or managing day-to-day business needs — a Business Loan helps you get the financial boost you need to grow. These loans are designed to support Indian entrepreneurs, MSMEs, and self-employed individuals across industries.
At GrowMyRupee, we simplify how business loans work in India so you can make confident, informed decisions.
🏢 What is a Business Loan?
A Business Loan is a type of unsecured or secured loan provided by banks, NBFCs, and government institutions to business owners and enterprises. These loans can be used for:
Working capital requirements
Inventory purchase
Hiring staff
Equipment purchase
Business expansion
Marketing or operational expenses
💰 Key Features of Business Loans
✅ Loan amount: ₹50,000 to ₹5 crores+
✅ Tenure: 1 to 5 years (can go up to 15 years for secured loans)
✅ Interest rate: 10% – 24% p.a. (varies by lender & creditworthiness)
✅ No collateral required for unsecured loans
✅ Quick approvals and minimal paperwork for MSMEs
🏦 Popular Business Loan Providers in India
HDFC Bank
ICICI Bank
Axis Bank
Kotak Mahindra Bank
Bajaj Finserv
Tata Capital
SIDBI (Small Industries Development Bank of India)
State Bank of India (SBI)
📜 Types of Business Loans
Working Capital Loan – To manage daily operations
Term Loan – Long-term funding for expansion or fixed asset purchase
Equipment Financing – For purchasing business machinery
Invoice Financing – Get money against unpaid invoices
Merchant Cash Advance – Loan based on future credit/debit card sales
Line of Credit – Withdraw funds as needed, pay interest only on usage
👤 Who Can Apply?
Self-employed professionals (doctors, CAs, consultants)
Proprietorships, partnerships, LLPs, private limited companies
Startups and MSMEs (with 1–3 years of business vintage preferred)
Traders, manufacturers, service providers
🧾 Documents Required
PAN Card & Aadhaar Card
Business registration documents (GST, license, etc.)
Bank statements (last 6–12 months)
ITRs for the past 1–2 years
Balance Sheet and P&L Statement (audited or unaudited)
Ownership proof of business premises (if applicable)
🧮 Loan Amount & Eligibility
Loan amount depends on:
Annual turnover
Profitability of business
Credit score of owner
Business vintage (typically 2–3 years preferred)
💡 Benefits of Business Loans
✔️ No need to dilute ownership
✔️ Faster disbursals for MSMEs and professionals
✔️ Competitive interest rates for good credit profile
✔️ Flexible repayment options
✔️ Loans available under Startup India, CGTMSE, and PMEGP schemes
⚠️ Points to Remember
⚠️ Unsecured loans may have higher interest rates
⚠️ Timely EMI repayment is crucial for maintaining credit score
⚠️ Read terms carefully – check for processing fees, pre-closure charges, etc.
⚠️ Collateral may be needed for higher amounts or low credit score
📈 Government Schemes Supporting Business Loans
MUDRA Loan (Pradhan Mantri Mudra Yojana) – For micro & small businesses
Stand-Up India – For women and SC/ST entrepreneurs
Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGTMSE)
SIDBI Schemes – Various sector-specific funding options
🧠 FAQs
Q: Can startups get a business loan without collateral?
Yes, through MUDRA or unsecured business loans (depends on profile & revenue).
Q: How long does loan approval take?
Private lenders may approve within 2–7 days. Government schemes take longer.
Q: Can I repay early?
Yes, but check with the lender about prepayment or foreclosure charges.
Q: Will my CIBIL score affect approval?
Yes. A CIBIL score of 700+ improves chances for unsecured business loans.
🏁 Final Thoughts
A Business Loan can be the turning point for your venture. Whether you’re growing your existing business or launching a new idea — choosing the right loan type and lender can make all the difference.
At GrowMyRupee, we guide you in comparing lenders, understanding eligibility, and applying with confidence.
📩 Need help choosing the right business loan?
Contact Us for expert support tailored to your business needs.