A business loan is a financial product designed to help entrepreneurs and business owners fund various business needs such as expansion, working capital, equipment purchase, or managing cash flow. These loans can be secured or unsecured depending on the lender and loan type.
| Purpose | Business expansion, working capital, equipment purchase, inventory management |
|---|---|
| Loan Amount | ₹1 lakh to ₹2 crores (varies by lender and business profile) |
| Tenure | 1 to 5 years (sometimes up to 7 years) |
| Interest Rate | 12% to 24% p.a. (depends on credit profile and type of loan) |
| Security | Can be secured (property, equipment) or unsecured |
| Repayment | EMIs or flexible repayment options based on loan type |
| Processing Time | Typically 3–7 days for faster loans |