What is a Small Business Loan? What is the Eligibility to Get it?

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A small Business Loan is an unsecured loan business owners may avail to fund their business-related expenses. Many financing institutions offer these loans in India to support the MSME sector of the country. These loans have competitive interest rates, flexible repayment terms, and easy eligibility conditions to help each business owner's financial requirements. These are a few eligibility conditions one must fulfill:


  • Minimum and maximum age as per the lender's policy

  • Nature of business, which should be a private limited company, proprietorship, closely held non-listed company, or a partnership firm in the trading, services, or manufacturing sector

  • Minimum turnover as specified by the lender

  • A majority of the business routed through a banking system

  • Business vintage of a few years


Those who qualify for a small business loan may apply online and get approval within minutes. Ensure a decent credit score and low DTI ratio, and furnish the necessary documents to get the best Business Loan interest rate.

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