Business Loan

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Businesses require an adequate amount of capital to fund startup expenses or pay for expansions. As such, companies take out business loans to gain the financial assistance they need. A business loan is debt that the company is obligated to repay according to the loan's terms and conditions

Here's how to get a business loan in five steps:

1. Pinpoint why you need the money. Ask yourself how this loan will help your business.
2. Find the right loan. Choose a type of business loan based on your needs.
3. Find the best lender for you. ...
4. See if you have what it takes to qualify. ...
5. Get your documents ready and apply.

What do you need to get a business loan?

To qualify for a small-business loan, you may have to provide collateral to back the loan. ... SBA loans require “adequate” collateral for security on all loans, plus a personal guarantee from every owner of 20% or more of the business. A personal guarantee puts your credit score and your personal assets on the hook.

What is business lending?

A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest.

From where I can get a business loan. 

There are many banks which can offer a business loan to eligible business owners.

The list as follows:

• HDFC Bank
• ING Vysya Bank
• Bajaj Finserv
• ICICI Bank
• Standard Chartered Bank
• Fullerton India
• RBL Bank

Business Loan Interest Rates October 2017