How Easy Is It to Get an Unsecured Business Loan?

Posted on Friday, July 21st, 2023 | By IndusInd Bank

Many banks offer an unsecured business loan for multiple end-uses. At IndusInd Bank, you can get an unsecured business loan through a smooth online application process with simple documentation. All customers must do is check their eligibility and submit the required documentation online. At IndusInd Bank, you can enjoy unsecured loan amounts of up to Rs. 50 lakhs for a tenure of up to 48 months.

For a growing business, an easy availability of finance is critical to sustainable growth. Be it for expanding production capacity, purchasing new machinery, fulfilling working capital needs, or managing cash flow, an unsecured business loan offers timely access to requisite funds.

Especially for small businesses, expanding their footprint necessitates quick capital support. Fortunately, an unsecured business loan from IndusInd Bank is an easy and reliable funding option for businesses that do not want to pledge collateral. Our loan products offer fast processing times, attractive interest rates, and minimal paperwork requirements. Further, the process of getting a business loan is seamless, thanks to the smooth online application process offered by IndusInd Bank. This means business owners can raise funds without making multiple trips to the bank.

Looking for a convenient business loan to fulfil your growth plans? Read on to learn the eligibility criteria and the step-by-step application process to get an unsecured business loan with IndusInd Bank.

IndusInd Bank Business Loan – Eligibility

For a smooth unsecured business loan application process at IndusInd Bank, make sure you meet the following eligibility criteria.

Non-Financial Eligibility Criteria

Financial Eligibility Criteria

Apply for a Business Loan Online

The easiest way of getting a business loan is to apply online.

Visit the business loan page on the IndusInd Bank website under the product category section. Click the ‘Apply Now’ button, fill in your requisite details, and click ‘Submit’.

IndusInd Bank will then contact you for further processing of the loan.

As part of the business loan application, applicants must also submit certain documents. Here is the documentation required to apply for a business loan with IndusInd Bank.

1. General Documents

• Application form with photograph
• KYC documents: Valid identity/address/date of birth/signature proof
• Business Continuity Proof: Company PAN card/ GST registration/ Shop and establishment registration/Excise registration/SSI certificate/3 years old ITR showing business income/Any other Govt. issued certificate establishing business existence

2. Constitutional Documents

• Proprietary Concern: Bank statement in the name of the firm along with any of the documents mentioned in Business Continuity Proof
• Partnership: Deed and PAN card of Firm
• Company: AOA /MOA /Certificate of Incorporation/PAN Card

3. Proof of Ownership

• Copies of Sales Deed/Govt. Leased Deed/EC/Latest Property tax receipt/Water bill along with the latest paid Electricity bill

4. Banking Information

• Bank statements of all CA/SA/CC/OD accounts for the last six months. All Documents should be self-attested

5. Financial Information

• A copy of the last three years’ ITR, along with Computation and Acknowledgement
• Financials of the last two years with full schedules &audit reports (Form 3CD & 3CB).
• Details of all current loans

For a smooth business loan application process, make sure to keep these documents ready.

IndusInd Bank Makes Getting an Unsecured Business Loan Easy

At IndusInd Bank, we offer a smooth unsecured business loan application process. Further, our multi-purpose business loans are meant for a variety of uses – marketing, hiring, or meeting day-to-day expenses.

Finally, thanks to easy documentation, speedy processing, and doorstep banking services, a business loan from IndusInd Bank promises to be a hassle-free process, allowing  you to focus on the business of growing your business!

Apply for a business loan from IndusInd Bank to take your business to new heights of success!

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.