The current pandemic has brought many businesses to a standstill or impacted their profitability, compelling them to revamp their models or seek urgent funding. To address the situation, the RBI has encouraged both traditional and non-traditional financial institutions to grant loans to the MSME sector without the need of any collateral. However, small businesses still find it challenging to secure the funds they need at the right time, often due to stringent regulations and complex paperwork. Or, they end up raising funds through friends and relatives, which may require them to part with some of their equity or even compromise on personal relationships. At InstantPay, we offer a solution to this problem by providing business loans that are affordable and easy.
All You Need to Know About Our Business Loans
Our tie-ups with different lending institutions make it easy for you to inject some funds into your business at the right time. Applying for a business loan with us is simple, as all you need is a business account on our platform for accessing lucrative features of different types of business loans:
Let’s get into the nitty-gritty of these business loans:
Eligibility Criteria
You should have been in business for at least 3 years (may differ as per loan requirements and amount)
Age limit varies as per the lender’s requirements or as per loan type
Healthy CIBIL Score
Strong credit profile
Duly filed Income Tax Returns for at least the previous financial year
KYC documents of business and business holder in place
Top Features of Our Business Loans
Fast and hassle-free processing, as low as one minute
Loan financing up to Rs. 15 Lakhs
You can apply for business loans for boosting your working capital. We offer 180-day loans for the same.
Fair interest rate
Flexible repayment schedule
Zero collateral requirement
Minimal documentation and less paperwork
Reasonable processing fee without hidden charges
Pre-approved business loans
Automated installment payment from InstantPay account
Benefits of Applying for a Loan with Us
The MSME sector has to often rely on periodic sales proceeds to meet their operational expenses. Hence, our loans are structured to address the unique challenges of MSMEs
Our platform eliminates the need to visit a traditional financial institution
We have tie-ups with top lending institutions
You can apply for a large loan amount at affordable rates
Integrating with us allows you to build a good bond with financial institutions that have collaborated with us
We offer an end-to-end solution for business banking, making it easy for you to apply for loans
Quick disbursement is helpful during financial distress as well as for exploiting new market opportunities
There is no need to part with your business asset, as these loans are collateral-free
Allows you to meet immediate business liabilities, thereby saving your business from becoming insolvent
Be assured that you are availing the loan from the right lender who is offering you the best market rate
To Sum Up
By offering an end-to-end solution for business banking, we aim to make life easy for small and medium businesses. With InstantPay you can effortlessly carry out your business banking transactions while availing other benefits such as cash flow management, automated payments, utility services and much more.
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