Business Loan is a loan given for business purposes only. Business loan is of two types, secured and unsecured. Today we will talk about unsecured business loans. Unsecured business loans are given to businesses without any security or charge on their assets. These loans are generally given for a period of 12 to 36 months and paid back with Equated monthly installments (EMIs) at a certain rate of interest. Unsecured business loans are given by many Banks and NBFCs.
The documents generally required to process a business loan include:
KYC documents of the business
KYC documents of the Proprietor / Partners / Directors
Financial & Bank Account Statements
Statutory & Tax Returns applicable to your Business
Application form
Unsecured loans are sought after by businesses whose assets have already been pledged and are in need of more funds.
Business loans are a great way to bridge your financial deficit and help you grow in business.
A business loan is a loan specifically intended for business purposes. It involves the creation of a debt, which will be repaid with added interest.
Business Loan not only helps businesses to meet its urgent financing without any security at faster pace but it also helps businesses to grow. Normal business loan tenure ranges between 12 to 36 months repayable in equated monthly installments.
LoanCart has a wide range of business loans to offer its customers. Some of the business loans which LoanCart offers on a regular basis are listed below:
Term Loan
SME Loans
Business Line of Credit
Merchant Cash Advances
At Loancart we offer Business Loans to both small & large businesses run by Proprietors, Merchants, Partnership Firms, LLPs & Companies.
Loancart has partnered with many reputed banks, finance companies & digital lending platforms to offer Business Loans to its customers at a faster pace.
Let our team of experts help you get the best business loan deal to suit your requirement.
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