Business Loans in Bangalore

Bangalore has transformed to become the core business hub in India, where many big companies and successful startups operate. However, for a city with the largest business scale, the need for constant capital from companies is also higher than in other Indian cities.

Although there are numerous options for entrepreneurs in Bangalore to raise capital for their business, one of the ideal options is through unsecured business loans in Bangalore. Such loans can ensure that the entrepreneurs have enough funds to support a host of business activities such as working capital, marketing, manufacturing, acquisition, or expansion.

IIFL Finance has designed business loans in Bangalore to cater to all the capital needs of businesses operating in Bangalore. The loan products come with attractive interest rates where business owners can raise a maximum of Rs 30 lakh within 48 hours.

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Business Loans in Bangalore Features and Benefits

Lenders have designed business loans in Bangalore after analysing the capital needs of businesses in this city. Small business loans in Bangalore are an ideal product as they offer numerous benefits to entrepreneurs. These are listed below:

Immediate Capital

Entrepreneurs can raise immediate capital of Rs 50 lakhs through business loans in Mumbai.

Minimal Documentation

Small business loans in Bangalore require submitting only a few essential documents.

Quick Disbursal

The business loans in Bangalore are disbursed into your bank account within 48 hours of application.

No Collateral

There is no need to pledge an asset as collateral when applying for a loan for a business in Bangalore.

Business Loan in Bangalore EMI Calculator

Calculate your EMI and choose the most suitable product for you

Eligibility Criteria for Business Loans in Bangalore

Similar to other business loans, business loans in Bangalore also come with a set of eligibility criteria the business owners must fulfil. Here are the eligibility criteria for business loans in Bangalore:

  1. It is an established business operating for more than six months at the time of application.

  2. The minimum turnover is Rs 90,000 in the last three months from the time of application.

  3. The business does not fall under any category or list of blacklisted/excluded businesses.

  4. The office/business location is not on the negative location list.

  5. Charitable organisations, NGOs, and trusts are not eligible for a business loan.

Documents Required for Business Loans in Bangalore

Before approving unsecured business loans in Bangalore, lenders require some necessary documents to be submitted by the business owner to ensure they fulfil the eligibility criteria. Here are the documents required for availing of business loans in Bangalore:

KYC documents – Identity proof and address proof of the borrower and all co-borrowers

PAN Card of the borrower and all co-borrowers

Last (6-12 Months) months bank statement of main operative business account

Signed copy of standard terms (term loan facility)

Additional document(s) for credit assessment and processing the loan request

GST Registration

Previous 12 months’ bank statements

Proof of business registration

PAN Card and Aadhar Card copy of the Proprietor(s)

Deed copy and company PAN Card copy in the case of partnerships

Types of Business Loans available to Enterprise Owners in Bangalore

Some of the business loans available to a business in Bangalore includes:

Working Capital Loans

These loans are essential to cover day-to-day business expenses.

SME Loan

Small business owners apply for this loan to fulfil capital needs.

Equipment Loan

It is a loan taken by a company to cover the cost of buying equipment.

Commercial Loans

Businesses with a high need for capital for the long term apply for this loan.

Term Loans

These loans are taken by businesses to cover short-term financial liabilities.

How To Apply For A Business Loan in Bangalore

Here is how you can apply for an ideal business loan in Pune with IIFL Finance:

  • ‌‌

    Visit IIFL Finance’s website and steer to the business loan section.

  • ‌‌

    Click “Apply Now” and fill out the application form.

  • Submit all the relevant documents needed for completing KYC.

  • ‌‌

    Click the “Submit” button to complete the loan application process.

  • ‌‌

    After review, IIFL Finance will approve the loan in under 30 minutes and disburse the amount within 48 hours into the borrower’s bank account.

IIFL Business Loan Related Videos

Business Loans in Bangalore FAQs

You can apply for a small business loan in Bangalore by visiting the selected lender's website, filling out the loan application form, and submitting the relevant documents.

Was this helpful?

Every lender may have different eligibility criteria for offering an unsecured loan in Bangalore. Follow the eligibility criteria for IIFL Finance’s MSME loans in Bangalore by heading to the “Eligibility Criteria for Business Loan in Bangalore” section.

Was this helpful?

No, IIFL Finance’s business loan process is easy and quick, where the business loan application is approved within 30 minutes, and the loan amount is disbursed within 48 hours.

Was this helpful?

No, IIFL Finance’s unsecured business loan in Bangalore does not require the pledging of any asset as collateral.

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