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Business Loan

Business Loan

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Ideal for small business owners or entrepreneurs who want to expand or manage cash flow. Often requires business plans and financial records.

A business loan is a financial product designed to help businesses fund their operations, expansion, or other needs. These loans can be secured (requiring collateral) or unsecured (no collateral needed).

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Business Loan Eligibility Criteria

✅ Age: 21 years at the time of loan application and 65 years at the time of loan maturity (may vary across lenders)

✅ Minimum Business Vintage: 3 years (may be 5 years for some lenders)

✅ Minimum Business Turnover: Rs 90,000 to more than Rs 250 crore

✅ Credit Score: 700 or above (some lenders may offer business loans to applicants having lower credit scores)

✅ Minimum Income: Rs 1 lakh p.a.

✅ Eligible Entities: Sole Proprietorship, Partnerships, Limited Liability Partnerships, Private Limited Companies, Public Limited Companies, etc.


Types of Business Loans:

✅ Term Loans: Fixed loan amount with a set repayment schedule.

✅ Working Capital Loans: Helps businesses manage daily expenses.

✅ Equipment Financing: Used to purchase machinery or equipment.

✅ Invoice Financing: Businesses borrow against unpaid invoices.

✅ Overdraft Facility: Allows businesses to withdraw more than their account balance.

Get Summary EMI

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Features and Benefits of Business Loan

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Most banks and NBFCs offer both secured and unsecured business loans

Business Loan interest rates vary across the lenders and are offered on the basis of credit profile of the applicant, nature of business, type of business loan offered and nature of collateral/security

Existing business loan borrowers of many banks and NBFCs can avail top-up loans over and above their existing business loans.

Many lenders also offer overdraft facilities to their existing business loan borrowers.

Existing as well as new customers of some lenders can apply for pre-approved business loans with instant loan disbursal and minimal documentation.

Many lenders offer concessional interest rates to women borrowers.

Applicants can also apply for business loans through online mode with quick approval, minimal documentation and swift loan disbursal

Frequently Ask Questions


Lenders offer personal loans to individuals to finance their personal as well as business requirements, except for speculative or illegal purposes. Business loans can only be availed for meeting various business-related requirements such as capital expenditure funding, purchasing raw material/stocks, raising working capital for financing day-to-day business operations, etc.
The major difference between a secured business loan and an unsecured business loan is that a secured business loan is backed by a collateral whereas no collateral is required for availing unsecured business loan.
The various types of business loan schemes offered in India include secured business loan, cash credit, unsecured business loan, working capital loan, term loan, overdraft, letter of credit, bank guarantee, bill/invoice discounting, machinery/equipment finance, special MSME schemes, etc.
All PSU banks and private sector banks and most of the banks belonging to other scheduled bank categories offer these business loan schemes to the businesses with varying eligibility conditions.
Lenders usually require their individual loan applicants to be at least 21 years old at the time of loan application and 65 years old at the time of loan maturity, with his/her minimum business vintage of 3 years.
Apart from these, lenders also set certain specific eligibility conditions related to the credit score/credit rating of the business, minimum margin contribution, collaterals (if required), annual turnover, approvals/registration/licenses/certification, nature of business, IT/GST returns, etc.

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