Are you an aspiring business owner in India wanting to grow your retail shop?
A retail business loan could be just what you need! With simple eligibility rules and flexible repayment plans, this type of loan can help you buy more stock, improve your store, or even open a new branch. Give your business the boost it needs with a retail business loan today!
No matter how large a retail shop is, it needs funds at one point or another. Whether it is to open a new shop, expand an existing one, redesign, or buy additional stocks, there are many reasons why most retail businesses need funds.
Bajaj Finserv offers retail business loans of up to Rs. 80 lakh for small enterprises with quick approval and minimal paperwork.
What is a retail business loan?
A retail business loan is a kind of small business finance that helps manage daily expenses, seasonal needs, or even business growth. You might consider taking a retail loan to:
Buy new technology to make your work easier and faster
Improve your online store or website
Design new marketing materials to keep up with trends
Stock up on products before a busy season
If you have a specific challenge or project in mind, you can look at different types of retail loans to find one that suits your business needs best.
Retail Business Loan: Features and benefits
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Affordable funding option
Bajaj Finserv offers high-quantum loans at affordable business loan interest rates. With it, businesses can get enough funds to fulfil short-term cash needs.
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No need for collateral
This collateral-free loan for small businesses helps availing funds without having to keep any asset as collateral. Thus, the loan approval process is much faster.
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Flexi loan
With this facility, withdraw funds as and when necessary from a pre-sanctioned limit. Pay interest on the amount utilised or withdrawn.
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Money in bank in 48 hours
Receive this unsecured loan only within 48 hours after approval. It also comes with business loan eligibility criteria and minimal paperwork.
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High-value loans
Bajaj Finserv offers a loan for small retail shops of up to Rs. 80 lakh to eligible candidates.
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Online access
Easily access business loan statements and manage repayment using our online facilities.
What is a retail business loan?
Business loans are unsecured funds given to self-employed individuals to fulfil their business-related needs. Financial institutions grant these credit facilities to self-employed professionals, private limited companies, sole proprietorships, partnerships, etc.
This is an ideal loan for small retail shops as it serves their short-term financial requirements without the need for collateral. Thus, retail businesses do not have to put their personal assets on the line every time they need funds.
Retail shop owners can get immediate access to funds with these collateral-free loans. The benefits include easy-to-meet eligibility criteria and minimal documentation, and quick loan processing.
Retail business loans eligibility criteria
It is quite easy and hassle-free to get an unsecured business loan from Bajaj Finserv. Meet the simple eligibility criteria mentioned below.
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Age
24 years to 80 years*
(*Age should be 80 years at Loan Maturity)
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Business vintage
Minimum of three years
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Citizenship
Resident Indian
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CIBIL score
Score of 685 or above
The business must also have previous years turnover audited by a CA. You can also use our eligibility calculator to know how much loan amount you can avail of.
Retail business loans required documents
Submit only a few documents to get a loan for retail business. Following is a list of the essential documents:
- Business Plan
A clear and detailed plan that explains your retail business goals, the market you serve, what you sell, and your expected earnings and expenses. - Proof of Business Registration
Papers that show your business is officially registered—this can include your business licence, shop registration, or certificate of incorporation. - Financial Statements
Recent financial documents like your profit and loss statement, balance sheet, and cash flow report. These show how well your retail business is doing financially. - Bank Statements
Usually, you’ll need to give 6 to 12 months of bank statements. These help the lender understand your cash flow, how often you make transactions, and your average bank balance. - Tax Returns
Copies of your personal and business income tax returns from the last few years to show your income and tax history. - Sales and Inventory Records
Sales reports, bills, purchase receipts, and inventory lists that show how well your products are selling and how you manage your stock. - Collateral Documents
If you are offering security (collateral) for the loan, you may need to share documents like property papers, vehicle ownership papers, or an itemised list of inventory. - Personal ID Proof
Valid identity documents like your Aadhaar card, PAN card, passport, or driving licence to confirm who you are. - Business Licences and Permits
Any licences or approvals needed for your type of retail business—like a shop and establishment licence, GST registration, or health department clearance. - Credit Reports (Personal and Business)
Credit history reports for both you and your business, so lenders can check how well you’ve repaid past loans or credit.
Retail business loan interest rates
Bajaj Finserv offers one of the lowest interest rates on retail business loans. Moreover, there are no hidden charges and 100% transparency with its rates.
Apply for two types of interest rates with Bajaj Finserv Business Loans.
- Fixed interest rates: Under this, the interest rates remain constant throughout the entire loan repayment period.
- Floating interest rates: The interest rates will revise as per changes in the repo rate. This will allow you to benefit from falling market interest rates.
Choose a suitable interest rate type and apply to get instant funds for retail business.
