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How to get a small business loan without collateral?

How to get a small business loan without collateral?

A number of commercial banks and NFBCs provide small Business Loan for your existing business. Even though bank loans are considered to be secure, you either require collateral or a deposit, which the bank can sell if you falter in paying back the loan. A bank loan carries a low interest rate but applying for it requires a lot of paperwork to match the small Business Loan eligibility and you have to wait for many months to know if you’ve been approved and receive funding. On the other hand, Bajaj Finserv provides small Business Loans without collateral, which means that you won’t have to put your personal or business assets on the line to qualify for funding. They approve a maximum sum of 30 lakhs in a span of 24 hours with minimal paperwork. Since you don’t need to guarantee collateral, there is no requirement for evaluation of your assets. Therefore, you receive funding much faster.

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