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A business loan is a kind of financing you can avail to meet the urgent needs of your growing business. If you need funding to expand your existing business, buy machinery, or boost production, look no further than a LoanFastTrack Business Loan.

Businesses require an adequate amount of capital to fund start-up expenses or pay for expansions. As such, companies take 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.

Business Loan Tenure and EMIs

Minimum 1 year — maximum 5 Years. The shorter the loan duration; the higher are the EMIs and vice versa.

Business loan interest rate

Interest rates on business loan range from 10 percent to 20 percent.

For business loan takeover and best business loan in India apply with loanfasttrrack.

Business Loan Documentation

Self Employed/Professionals

1 Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
2 Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
3 Certificate & Proof of business existence along with Business Profile
4 Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant
5 Last 12 months Bank Account Statements (self & business)

Advantages of a Business Loan

  • Quick disbursal: Banks will disburse a Business Loan quickly so that you don’t to worry about operations coming to a halt or growth plans delayed because of a lack of funds. For instance, Business Loans of up to Rs 50 lakh within 48 hours to certain preferred category of customers, under its Business Growth Loan.
  • Minimal documentation: One of the benefits of Business Loans is that you don’t need lots of paperwork to get them. In fact, some customers can get loans without any collateral, guarantor or security to meet their every need, from expansion to working capital requirement. You will also get doorstep services from some banks.
  • Competitive interest rates: Because of the growing completion among banks, the interest rates on Business Loans are quite reasonable, so that you can take out a Business Loan without worrying about large repayments. Of course, interest rates that bank charge will vary from customer to customer, according to creditworthiness, tenure and the purpose for which the Business Loan is required. Interest rates can vary from 11.5 percent to 24 percent.
  • Flexible tenures: You have the option of choosing the tenure of the loan. If you want to take out a Business Loan for a short period to meet working capital expenses, you can take a loan for a year. If you want it to expand your business, you can take out a loan for a longer period of time, like, say, four years.

Why Choose Loanfasttrack ?

Loanfasttrack is a free service provider. It is the best business loan company in India. Loanfasttrack has a dedicated professional team that helps you to make smart decision on comparative evaluations of best business loan offers and best business loan rates from top banks. It is one such online platform for easy business loans comparison, which helps you to know your business loan eligibility and to secure your chance to get a low interest business loan at a single click. You no longer have to worry on “Which bank gives lowest interest rates for unsecured loan”, Loanfasttrack guarantees instant business loan application with the lender bank/NBFC with the best business loan interest rates.