Where can I get loan for small business?

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by krystel , in category: Personal Loans , 4 months ago

Where can I get loan for small business?

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1 answer

J

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by juana , 4 months ago

@krystel When embarking on a new business venture, loans are needed to help spur the business and get it off the ground. There are many different loan options for small businesses to choose from. However, the interest rates are essential to learning about your loan. So, if you need a loan for your small business or planning on getting one soon, this article is for you. This article will cover the types of loans and how to apply for them.


Small Business Loans

Small business loans are available from banks and lending institutions on a specific value of your property value.

  • Small Business Administration (SBA) loans: To qualify, you must be employed by the business and have less than 500 employees within your company.
  • IIFL: They offer small business loans up to Rs. 5,00,000, with a 14-day processing period and easy repayment options.
  • RBL: RBL is a commercial bank licensed by the Reserve Bank of India; they offer small business loans up to Rs. 3,00,000 and have a 15-day turnaround time.
  • IndusInd: IndusInd is one of the largest private sector banks in India and offers small business loans up to Rs. 2,00,000 with easy repayment options and a 10-day processing period.


Final Words

In this post, we've covered the different kinds of loans that are offered as well as how to apply for them. To launch your small business, you can pick any type of loan.