+91-9997842548

care@mlbsecurities.com

10AM - 6PM Monday to Saturday

CIN: U74899DL1995PTC067535

COR: 14.00526

Business Loan

Home  >>  Services  >>  Business Loan

BUSINESS LOAN

Elevate your business with an unsecured business loan upto ₹5 lakhs with a loan tenor of 3-36 months without any collateral and empower your business journey with us.

WHAT IS BUSINESS LOAN

Business loans provide funds for a variety of purposes, such as covering day-to-day expenses, purchasing inventory or new equipment, hiring employees, expanding operations, or consolidating existing business debt.

ELIGIBILITY CRITERIA

  • Nationality- Indian
  • Business Vintage- At least 3 years
  • CIBIL Score – 680 or higher
  • Work status- Self Employed
  • Age- 24 to 58 Years

DOCUMENTS REQUIRED

  • KYC Documents – Aadhar/Passport/Voter’s ID/Letter from NPR/NREGA Job card.
  • PAN Card
  • Proof of Business ownership.
  • Bank Statement of last 3 months.
  • ITR/other financial documents.
  • Partnership Deed/ Company PAN (only for Partnership companies, Pvt.Ltd or LCC companies)

APPLICATION PROCESS

Check your eligibility. 

with just a few details, check your eligibility for a personal loan.

Upload documents.

complete your application by uploading few documents as mentioned above.

Get a loan offer.  

we will evaluate & propose a fair loan offer to you.

Sign Your Loan Agreement & Get the Disbursement in Minutes 

You will get the funds in your account after verification.

APPLICABLE FEES AND CHARGES:

Type of Fee Applicable Charges
Rate of interest 12% to 30% per annum
Processing Fees Up to 4% of the loan amount (inclusive of applicable taxes)
Bounce Charges In case of default of repayment instrument, Rs. 1,500 per bounce will be levied
Penal Charges Delay in Payment of Installment(s) shall attract Penal charges of Rs 40 per day per installment from the respective due date until the date of receipt of full instalment(s) amount.
Document Processing charges Rs. 2,500 (inclusive of applicable taxes)
Prepayment charges Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.
Stamp duty Payable as per respective state.
Broken Period Interest Scenario 1 - More than 30 days from the date of loan disbursal till the first EMI is charged: In this scenario, Broken Period interest shall be deducted from the loan disbursement.

Scenario 2 - Less than 30 days from the date of loan disbursal till the first EMI is charged: In this scenario, interest is charged only for the actual number of days since the loan was disbursed.
Installment default charges Rs. 450 per month from the first instalment due date for mandates rejected by customers bank until the new mandate is registered.
Cash collection handling charges Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month
Cash deposit charges Customers will incur a cash deposition charge of Rs. 50 (Inclusive of Applicable taxes) when making cash payments at our branch offices
PG facility charges Rs. 11 (Inclusive of Applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties.
Switch fees Up to 1.18% of the loan amount (inclusive of applicable taxes) \on the outstanding loan amount

FREQUENTLY ASKED QUESTIONS

What is business loan, and how much can one borrow?

A business loan is a financial offering that can help you meet your planned and unplanned business expenses. It is a kind of unsecured financing, and you can avail of one without providing any collateral.

You can get a business loan of upto Rs 5 lakh by fulfilling the easy to meet criteria, once your application is approved, you can get the loan amount in your bank account within 48 hrs.

Business entities such as proprietary concerns, partnership firms, private limited companies, self employed professionals, self employed non-professionals can apply for a business loan. All applicants are required to fulfill the eligibility criteria.

We consider a CIBIL score of 680 or above as a good credit score.

What can I use a business loan for?

You can use a business loan to manage your venture’s planned and unplanned business expenses such as leasing new business premises, renovation of existing business premises, repair of machinery, stock up inventory, purchasing raw material in bulk, or expanding your operations.

Start by clicking the “Apply now” button on this page and verify your mobile number with the OTP that is sent to your phone and fill the online application form and upload the required documents. Once your loan application is approved, you can get money in your account within 48 hours.