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START-UP BUSINESS LOANS IN INDIA

With ample opportunities for new businesses, the Start up ecosystem is rapidly booming in India. To support the growth of your Start up, Bajaj Finserv brings to you Start up Loan, a business loan for new businesses that offers up to Rs. 45 lakh. With this customised Start up financing, you can meet various business expenses like overhead, inventory, infrastructure costs, etc.

Start ups having a business vintage of minimum 3 years are eligible to apply for this Start up business loan in India. All you have to do is fill up the online application form, submit a few documents and receive the money in your account.

  • Start Up Loan: Features and Benefits

  • education loan online

    Fast approval within 24 hours

    Apply for Bajaj Finserv Start up Business Loans online, and get a quick approval within 24 hours.

  • Doorstep document collection

    You only need to submit a few basic documents to our representative, who will arrive at your doorstep to collect the documents.

  • Repayment tenor

    Conveniently repay your Start up loan as per your business’ cash flow. The tenor upto 84 months.

  • No collateral

    This is a Start up Unsecured Business Loan, so you need not pledge any asset as security against the funds.

  • Affordable fee

    Affordable

    Bajaj Finserv offers these business start-up loans at attractive rates of interest to make them affordable for start-ups in India. These loan for startup have nominal fees and charges associated with them making them light on your pocket.

  • Flexi Loan facility

    Flexi Loan facility

    A new-age feature, Flexi Loan facility allows multiple withdrawals from a pre-sanctioned loan amount and repayment of the principal as per convenience. Here, you pay interest only the withdrawn fund, thereby, reducing your EMIs by up to 45%.

  • Online account management

    Bajaj Finserv enables easy accessibility to small business Start up Loans with online account management facility. You can access every detail of the loan for startup including EMIs, tenor, principal, etc. any time with a few clicks.

    Alternatively, self-employed individuals running a Start up, can also apply for a Loan Against Property up to Rs.50 lakh.

Start-up Business Loan Eligibility Criteria:

To assist new businesses that are looking to grow, Bajaj Finserv offers easy start-up loans that you can get in a fast, hassle-free way. A start-up loan can be availed by meeting the simple eligibility criteria.

If you are an entrepreneur looking to avail of a start-up loan to start business in India, you must:

  • Be a residing citizen of India aged between 25 to 65 years
  • Own a business that has been operational for at least three years
  • Have a CIBIL score of 750 or higher
  • Have filed ITR for business for at least one year

 

Documents Required for Start-up Business Loan

You only need to submit a few basic documents to avail a Bajaj Finserv Start-up Business Loan. Here are the documents you need to keep handy:

  • KYC documents such as Aadhar card, PAN card, passport, driving license
  • Address proof documents such as passport, electricity bill, telephone bill, lease agreement or any other commonly accepted address proof
  • ITR filed for at least one year
  • Bank account statement for the last six months
  • Balance sheet and Profit/Loss statement for the last two years as audited by a CA
  • Ownership proof such as Registration Document/Partnership Agreement/Certificate of Commencement/Article and Memorandum of Association

 

FAQs

What are start-up business loans?

Start-up business loans are specialty loans created to meet the different needs of entrepreneurs in the startup ecosystem of our country. These startup business loans can be utilized to meet a number of expenses of your business such as operational costs, infrastructure cost, equipment buying, and others.

Bajaj Finserv, one of the most diversified non-banking finance companies in the country, offers start-up loans up to Rs. 45 lakh that you can avail within just 24 hours*. Start-up loans offered by Bajaj Finserv are unsecured business loans and therefore require no collateral or guarantor.
 

What are the eligibility criteria for start-up business loans?

Getting a start-up loan is easy. If you meet the basic eligibility parameters as mentioned below, you can get approval on your loan application within minutes.

To qualify for a start-up loan from Bajaj Finserv, you need to:
  • Be a residing citizen of India, aged between 25 and 65 years
  • Have a minimum CIBIL score of 750
  • Be running your own business for at least three years
  • You must have filed your business ITR for a minimum of one year

What are the different types of start up business loans?

Start-up loans for business are classified into two categories:
  • Short-Term Working Capital Loan - The loan can be used to meet your daily business expenses such as the salaries of your employees, funds required to meet daily operation of your business, overall costs of running your business and others.
  • Long-Term Loans - The loan can be used to support the expansion or growth of your startup. This term loan can be utilized to purchase new machinery, purchasing inventory, and other long-term expenses for your business.

What are the requirements of getting a start up loan in India?

You can get a loan to start a new business by submitting the following documents:
  • KYC – PAN card, Aadhar card, driving license, or any other standard KYC document
  • Address proof – Electricity bill, passport, telephone bill, rent agreement among others
  • Bank account statement for the last six months
  • Copy of ITR for minimum one year
  • Ownership proof document such as registration of the business.

How hard is it to get a start-up business loan?

The difficulty or ease of getting a new business loan depends on the lender and the eligibility parameters laid down by them. Some banks and NBFCs may not be in favour of lending to new businesses because of their relatively low vintage or experience. Lending to a newer company may be perceived as a risk.

However, if you are looking to finance your new business, you should consider the unsecured business loan for startups offered by Bajaj Finserv. With start-up financing of up to Rs. 45 lakh offered at reasonable interest rates, getting one is straight-forward. In fact, if you meet the eligibility parameters and submit your documents, you can even qualify for quick approval and fast disbursal.

How to apply for a startup loan for new business?

You can apply for a start-up business loan from Bajaj Finserv by following these simple steps:
  • Click on the Apply Now button to open the application form
  • Fill in your basic information such as your personal and business-related details
  • Upload your KYC, address and financial documents
  • Receive the call from our representative, who will take you through the offer
  • Once your documents are verified and the loan is approved, you will get funds within 24 hours*

Is there any government scheme for startup business loans?

Yes, there are a number of government schemes, which you can use to avail startup business loans in India. They are:
  • Mudra Loan Scheme
  • The Credit Guarantee Scheme
  • Stand Up India Scheme
  • MSME Loans in 59 minutes
  • Coir Udyami Yojana
  • AIM (Atal Innovation Mission)
  • ASPIRE (Scheme for promotion of Innovation, Entrepreneurship and Agro- Industry)
  • National Bank for Agriculture and Rural Development (NABARD)
  • Credit Link Capital Subsidy Scheme
  • National Small Industries Corporation Subsidy

Private and public-listed lenders may also offer start up business loans to eligible entities. For instance, you can get a quick and hassle-free start-up loan up to Rs. 45 lakh from Bajaj Finserv.

How do I finance a start-up busines?

While you can look at investors to invest in your start-up, you also have the option to avail a loan to start a new business. A number of financial institutions offer start-up loans at an attractive rate of interest and flexible terms.

Bajaj Finserv offers instant business start up loans up to Rs. 45 lakh to meet all kinds of expenses required for the expansion and growth of your start-up. Take advantage of flexible repayment tenures of up to 84 months and repay in a hassle-free manner with a business loan from Bajaj Finserv.

How to get startup loan for new business in India with low CIBIL Score?

A CIBIL score of 750 or higher is the basic eligibility criterion to avail of financing to start a business. If your CIBIL score is low and you need a loan for a startup business in India, follow the below steps to reassure the lender about your ability to repay.
  • Disclose all your sources of income, such as deposits, investment, and rent, to ensure the lender that you have enough funds to repay the loan
  • Apply with a creditworthy co-applicant for quick approval
  • Work on improving your CIBIL score by timely paying your credit card bills and repaying existing loans without default

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