Apply for Collateral-Free Business Loan

Managing a relatively new business can get challenging, giving the highly volatile market conditions as well as a constantly changing business environment. In fact, it is very likely that as a business owner, you may feel obligated to tap into your own personal funds due to the lack of adequate funds. Alternately, you may try looking for a business loan. However, wondering whether you may have to pledge collateral may make you hesitate. This brings us to a very pertinent question.

How can one get a Collateral-free Loan?

The term collateral refers to an asset that a borrower gives a lender to secure a loan. In a situation when a borrower defaults on a loan payment, the financial institution issuing the same has the right to seize the collateral that was put up by the borrower as security to recover any sustained losses.

Collateral has a financial value. Collaterals are usually assets like real estate, machinery, vehicles, stocks, etc.

What are collateral-free loans?

Simply put, collateral-free loans are loans for business without security. Such loans are called business loans without collateral.

Collateral free business loans are hassle-free and make unlimited opportunities accessible to those availing it. They not only help us meet our business goals but also satisfy personal requirements, for example, expenses towards a wedding, a foreign holiday, higher education, medical emergencies and more.

At SMFG India Credit, we understand your needs, and hope to become your preferred financial partner for facilitating your business aspirations. Hence, we offer collateral free business loans upto Rs 75 Lakhs* at competitive Business Loan Interest Rates with flexible repayment options.

Collateral Free Loans: Features and Benefits

The flexible features of collateral free business loans from SMFG India Credit allow our customers to meet business goals and contribute to the country’s economic growth. Here are a few benefits and features of business loans:

Upto INR 75 Lakhs* of unsecured business loans -

We offer upto Rs 75 Lakhs* of collateral free business loans at reasonable interest rates to help you meet short and medium term business goals.

No collateral -

These loans are collateral-free, which means that one does not have to pledge one’s personal or business assets. This makes the process extremely fast and with minimal documentation.

Pre-approved Offers -

One can get pre-approved offers for an instant loan without security like top-up loan or an interest rate reduction on one’s business loan. This also however, depends on the company’s prevailing policy as well as your credit and repayment history.

Online business loan EMI Calculator option -

An EMI calculator can help you calculate monthly payments on a business loan. SMFG India Credit’s free online business loan EMI calculator assists you in predetermining the amount that is needed to pay towards repayment on a monthly cycle. You can also use our business loan eligibility calculator in understanding the approximate business loan amount you may be eligible for which can help you make an informed decision.

Online Account Access -

One can access the business loan statement online anytime and from anywhere.

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Business Loan Eligibility Criteria

1. Age should be between 22-60 years
2. The business should be a minimum of three years old
3. Previous year’s filed Income Tax returns need to be submitted
4. Previous year's turnover should be duly audited by a CA

How to Apply

1. One can check Business loan eligibility online
2. One can calculate EMI online through the online business loan EMI calculator
3. Fill the form online
4. Fill in the details and click on submit
5. Our representative will get in touch with you within 72 hours*