Get Business Loan
Business Loan of 10 Lakh
If you are looking to achieve your entrepreneurial goals, then look no further than IIFL Finance. We offer business loans up to Rs 50 lakhs, and if you are looking for a 10 lakh business loan, that can be arranged too. Even if you are the founder of a startup launching your dream, an established business owner looking to scale up, or for that matter, a freelancer in need of equipment upgrades for your business, we have tailor-made solutions for each one of you. Plus, our range of services caters to different industries, be it retail and manufacturing or trading and healthcare, so you can focus on what matters most - growing your business!
Features and Benefits of a 10 Lakh Business Loan
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Unlocking Growth Potential: With access to a significant loan amount of 10 lakhs, you can invest in crucial areas like product development, office spaces, manufacturing, expansion, sales & marketing, and inventory.
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Collateral-Free Convenience: Unlike traditional loans that expect you to pledge assets as collateral value, the 10 lakh business loan is unsecured and does not require you to tie up your valuable resources, allowing you to maintain financial flexibility. Thus, you don't stand a chance of losing those assets in case of unforeseen circumstances.
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Fast Funding, Faster Action: You need not wait for weeks or months for a loan approval. IIFL Finance ensures you get 10 lakh business loan at lightning speed once the approval has been sorted. This rapid turnaround allows you to seize time-sensitive opportunities or address urgent needs.
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Flexible Repayment Solutions: You can tailor your loan repayment as per your convenience, depending on the business cash inflow. The flexible tenure options stretched up to eight years. This ensures manageable repayments that don't strain your budget.
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Simplified Process, Speedy Approval: The streamlined online application process minimizes paperwork. Since it is entirely digital, the approval process gets expedited as well. The funds can be transferred into your account as early as 48 hours on approval.
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Competitive Interest Rates: IIFL Finance offers competitive interest rates, making this loan a cost-effective way to secure substantial funding. They consider your creditworthiness and business health to determine the final rate, ensuring a fair and transparent process.
Eligibility Criteria for 10 Lakh Business Loan
For a 10 lakh business loan eligibility, you are required to meet the following expectations:
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Age: when you apply for 10 lakh business loan, you must be between 23 and 65 years old and still be below the age of 65 by the end of the loan tenure period.
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Business/Venture Age: The business should be running for at least 3 years with a clean record free from any form of blacklisting.
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Creditworthiness: A minimum CIBIL score of 700 demonstrates your financial responsibility and thus raises your chances of a loan approval.
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Bank Account: It is mandatory that you have a current bank account.
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