{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.indusind.com\/iblogs\/business-loan\/where-can-i-get-an-unsecured-small-business-loan\/#BlogPosting","mainEntityOfPage":"https:\/\/www.indusind.com\/iblogs\/business-loan\/where-can-i-get-an-unsecured-small-business-loan\/","headline":"Where can I Get an Unsecured Small Business Loan?","name":"Where can I Get an Unsecured Small Business Loan?","description":"An unsecured business loan is a collateral-free loan with a higher rate of interest. Packed with favourable features, a business instalment loan from IndusInd Bank is a great way to secure funds for your small business. If you are a small business owner, getting funding for your business can be challenging, particularly if you prefer...","datePublished":"2023-02-14","dateModified":"2024-08-27","author":{"@type":"Person","@id":"https:\/\/www.indusind.com\/iblogs\/author\/indusind\/#Person","name":"IndusInd Bank","url":"https:\/\/www.indusind.com\/iblogs\/author\/indusind\/","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/8169561f34fb61e737060f1a537a86e2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/8169561f34fb61e737060f1a537a86e2?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"IndusInd","logo":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","width":201,"height":86}},"image":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/unsecured.jpg","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/unsecured.jpg","height":400,"width":1060},"url":"https:\/\/www.indusind.com\/iblogs\/business-loan\/where-can-i-get-an-unsecured-small-business-loan\/","about":["Business Loan"],"wordCount":874,"keywords":["apply for business loan","business loan","Small Business Loan"],"articleBody":"An unsecured business loan is a collateral-free loan with a higher rate of interest. Packed with favourable features, a business instalment loan from IndusInd Bank is a great way to secure funds for your small business.If you are a small business owner, getting funding for your business can be challenging, particularly if you prefer not to provide any security or collateral to the bank. In such cases, an unsecured business loan could be the solution you are seeking. Unsecured loans are a great option for businesses that don\u2019t own too many assets, as well as start-ups that are growing fast and need additional finance to hire more employees, purchase inventory, or expand operations.All you Need to Know about an Unsecured Business LoanDetailed below are some of the common features of unsecured business loans:The borrower does not have to provide any collateral or pledge any assets against the amount being borrowed.This type of loan is given on the basis of the applicant\u2019s creditworthiness and repayment capacity and history.Unsecured business loans typically have higher interest rates as the risk to the lender is greater.The loan application process as well as approval and disbursement of funds is faster as compared to a secured business loanUnsecured Business Loans from IndusInd BankIf you are looking to get quick, easy, and hassle-free funding for your business, look no further than IndusInd Bank. Designed to help businesses grow and develop, an unsecured business loan from IndusInd Bank is given on the basis of business vintage i.e. age of the business and audited financials for 3 years. Its key features and benefits are as follows:Option of availing a loan of up to Rs. 50 lakhsBasic documentation and speedy processingEasy instalments through longer loan repayment tenure of up to 48 monthsDoorstep service for assistance with all loan requirementsThe loan could be used for all types of business needs, including immediate cash needs, purchasing new inventory or equipment, timely vendor payment, bridge funding to cover the gap in delayed credit limit enhancement, as well as medium and long-term working capital requirementsThe table below enumerates the eligibility criteria for availing an unsecured business loanfrom IndusInd Bank.Minimum Turnover of BusinessProfitabilityPaid up CapitalAge of ApplicantBusiness VintagePast Payment HistoryOwnershipRs. 1 crore in the latest financial year with audited financial statements for 3 yearsPositive Profit Before Depreciation and Tax (PBDT) in the last 3 yearsGreater than or equal to Rs.10 lakhs25 years – 70 years (21 years for a 2nd generation businessman)At least 3 years12 months of clean record for a minimum loan of Rs. 4 lakhs.Mandatory ownership of property If your business has enough financial goodwill and you are comfortable paying a steeper rate of interest, financing solutions from IndusInd Bank are a great way to secure immediate capital for your myriad business needs.  A Business Instalment loan from IndusInd Bank is easy to apply for. You may apply for a business loan online. Just fill in your details and submit the application form along with the requisite documents for further processing by the bank.  Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct\/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.Share This:"}