8 December 2022
Home / Business Productivity & Finance / How to Get an Instant Business Loan in Delhi?

How to Get an Instant Business Loan in Delhi?

How-to-Get-an-Instant-Business-Loan

Whether the requirement is for expansion, inventory, cash flow, equipment or any other capital need, an instant business loan comes in handy each time. This unsecured form of credit can be a sound option to fall back on in times of need. It can help you take your business to greater heights.

Moreover, with flexible EMI options, quick availability, easy documentation, and multiple product offerings, a business loan from a trusted financial institution can provide a competitive edge to your company. 

Here is how you can get a quick business loan in Delhi:

Know Your Need

The first step while applying for this loan is to determine the amount required. Generally, lending institutions grant loans between Rs 5 lakh and Rs 75 lakh, with flexible EMI options. 

Read | Small Business Loans: A Complete Step By Step Guide

Check Your Eligibility

Once you have assessed the sum, check if you meet the eligibility criteria. Most lenders publish the qualification norms on their official websites. Some common things asked for include:

  • Applicant’s age
  • Age of the business
  • Minimum turnover
  • ITR value
  • Owned house or place of work
  • CIBIL score (usually 750 and above)

These loans can be availed by a sole proprietor, a partnership firm, a private company, trusts, societies, and other institutions such as nursing homes, diagnostic labs, etc.

Apply for the Loan

If you meet the business loan eligibility criteria, visit the official website of the lender and apply for business loan. The online application will require you to fill some basic details such as your name, age, address, the amount required, etc. Be sure to fill all details correctly to avoid rejection.

Business Loan

Submit Your Documents

After you have filled the form, the lender will require you to furnish certain documents. These will be required to help the process move ahead. Ensure all submitted documents are legitimate, and the details in them are true. Some of the credentials that are generally asked for in a business loan online include:

  • Identity and address proof
  • CIBIL score
  • Proof of business existence (as specified in the eligibility requirements)
  • PAN card and other KYC details
  • Copy of ITR submission (last 24 months from the date of the loan application)
  • Bank account statements (last six months)
  • Pay slips (last six months)

Get Verified

Once all the documents have been submitted, the financial institution will verify your online application as well as the records tendered. This process is not long but might require a personal discussion with the company executive for verification. 

Read | 10 Things to Do Before You Obtain a Long Term Business Loan

Avail the Loan

When the substantiation is complete, the lender sanctions the loan and will inform you in writing. Be sure to read all terms and conditions, EMI structure, tenure, penalties, etc. to ensure a smooth utilization and repayment of funds. The amount is credited to your bank account within a few hours of approval.

Conclusion – Getting Instant Business Loan

Business loans are easy to apply for and help in critical times. They accommodate unique requirements, helping you grow exponentially. Whether looking for a business loan in Delhi or anywhere in the country, reach out to quality lenders and the most trusted names in the industry, and avail several benefits, such as faster approval, quick disbursal, flexible tenure, etc.

Instant Business Loan
Rating: 5.0/5. From 1 vote.
Please wait...
Gaurav Jain
Article by Gaurav Jain
Hey There! My name is Gaurav Jain, a full time affiliate marketer since 2007. The reason for starting eMoneyIndeed.Com blog is to help you Save & Make Money Online. I write about Blogging, Online Marketing, Webhosting, SEO, Affiliate Marketing, Startups, Social Media, Email Marketing and more. Hope you enjoy the posts on eMoneyIndeed.com

Want To Earn Money Online?

Get Tips & Tricks in Your Mailbox
Subscribe Below
Join lot's of other subscribers:
Making money is a hobby that will complement any other hobbies you have. Stop wishing - Start doing. The goal is living life on your terms.
SUBSCRIBE

Check Also

Things to Consider Before Launching a Healthcare Startup

Things to Consider Before Launching a Healthcare Startup

Healthcare startups stand to change the way the world works, both from the perspective of …

Want To Earn Money Online?

Get Tips & Tricks in Your Mailbox
Subscribe Below
Join lot's of other subscribers:
Making money is a hobby that will complement any other hobbies you have. Stop wishing - Start doing. The goal is living life on your terms.
SUBSCRIBE
Want to Learn Tons of Ways to Make Extra Money From Home?
Show Me How

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join lot's of other subscribers
SUBSCRIBE