- Extensive Network: Speed Finance has built strong relationships with various financial institutions and lenders across Pune, Mumbai, Delhi, Hyderabad, Noida, Gurgaon, Faridabad, and Thane. This network allows us to connect you with the most suitable loan options available for your business.
- Customized Solutions: We understand that every business is unique, and so are its financial requirements. Our team of experts takes the time to understand your business goals, financial situation, and future plans to design personalized loan solutions that align with your needs.
- Quick and Hassle-Free Process: We strive to make the loan application and approval process as quick and hassle-free as possible. Our experienced team will guide you through the entire process, ensuring a smooth experience from start to finish.
- Competitive Interest Rates: We work closely with our lending partners to negotiate competitive interest rates for our clients. Our aim is to help you secure a business loan with favourable terms and conditions, allowing you to make the most of your borrowed funds.
- Expert Advice: Our team comprises financial experts who possess in-depth knowledge of the lending industry. They will provide you with valuable insights and advice, helping you make informed decisions regarding your business loan.
- Flexible Loan Options: Whether you need a loan for working capital, equipment purchase, expansion, or any other business-related purpose, we have a range of flexible loan options to meet your specific requirements. Our goal is to provide you with the financial resources necessary to fuel your business growth.
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Reason to Choose Speed Finance Business Loan
Looking for a business loan, personal loan, car loan, and telemedicine services all over India? Our company offers tailored business financing solutions to help you achieve your entrepreneurial dreams. Speed Finance is synonymous with the fastest processing for a business loan. A business loan application that reaches our platform is processed with great care and agility. Our data verification software and experienced customer care executives come into action as soon as the application reaches our systems. We are always eager to serve you better than the best. Get the best business loan in Pune, Mumbai, Delhi, Hyderabad, Chennai, Chandigarh, Noida, Gurgaon, Faridabad and Thane. Are you a budding entrepreneur or an established business owner looking to expand your operations in Pune, Mumbai, Delhi, Hyderabad, Noida, Gurgaon, Faridabad or Thane? Securing a business loan can provide you with the financial boost you need to achieve your goals. Our company specializes in offering tailored business financing solutions, catering to the unique needs of businesses in these thriving cities. Read on to learn more about our services and how we can assist you in obtaining a business loan.
Contact Us Today:
Don't let financial constraints hold your business back. Contact us today to discuss your business loan requirements in Pune, Mumbai, Delhi, Hyderabad, Noida, Gurgaon, Faridabad or Thane. Our dedicated team is ready to assist you in navigating the loan landscape and finding the perfect financing solution for your business. Together, we can turn your entrepreneurial dreams into reality. Business loan in Pune, Mumbai, Delhi, Hyderabad, Noida, Gurgaon, Faridabad,Chennai,Chandigarh and Thane.
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Hassle free
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Business Loans - Bad Credit, Good Credit, or No Credit!
Speed Finance processes all applications with full consideration to customer requirement. Speed Finance has the quick processing mechanism available for Business Loan process. If the customer lacks credit history, our lenders still evaluate the credibility of the customer by using other means of verification like transaction history in bank, UPI ID transactions etc. We will not leave you in the middle of nowhere due the lack of credit history and we will try our best to serve you.
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Speed Finance - Business Loans
Speed Finance provides digital processing for Business Loan Applications. We consider the importance of real conversations with actual persons while we process Business Loan applications in our tech platforms. With the help of our technology, we complete the first level of review. In the meantime, the application reaches our customer care executives. Our customer care executives are trained on understanding the Business Loan requirement and eligibility criteria of lending Banks and NBFCs. The customer care executives contact customers after the filled Business Loan application form reached our system. They review the application and contact the requester for further processing. Customers can come to our platform at any point of time to check the real time status of their applications. Customers can download Speed Finance app from Play Store to check the application status. On our website we have Riya (our chatbot) to help customers with their queries. Riya is available 24X7. At Speed Finance we make sure that you get best offers.
FREQUENTLY ASKED QUESTIONS
Business loan can be used to overcome a slowdown, ensure cash flow, fund working
capital, hire employees, purchase equipment or expand your business. Business
loan can be used to handle various business plans and needs. It can help you get
quick funds. Business Loans are designed to meet financial needs with flexible
repayment options and customisable loan options to keep you growing your
business. Getting money to meet your immediate need is simple, secure, and easy
with our unsecured Business Loans.
Why our Business Loans are the best for you:
- No collateral or guarantor is asked our Business Loan
- We regularly provide exclusive offers on business loans to our repeat customers
- We offer unsecured business loans up to ₹ 75,00,000
- Minimum documentation is asked
- You get quick online approval once you share the minimum document required
- Completed application form at Earnwealth.in or from our App KYC documents of the company including PAN Card, Registration of Incorporation, Partnership deed, Memorandum & Articles of Association.
- KYC documents of the business owners
- Balance sheet and Profit & Loss accounts for the last two years
- Income Tax Returns for the last two years
- Company bank statements for the last six months
- GST returns for the last 6 months
- Detailed plan on usage of Business Loan.
Business Loans is offered to both professionals and non-professionals,
self-employed. Among self-employed professionals, there is exclusive loans for
doctors. These loans have quick approval and are available at competitive
interest rates. The customer segments covered under Business Loans are listed
below:
- Sole Proprietorships
- Partnership Firms
- Private Limited Companies
- Closely held Public Limited Companies
- Societies
- Trusts
- Hospitals, Nursing Homes, Diagnostic Centres, Pathological Labs.
Yes, Business loan is available without a collateral
Depending upon business requirement and requester 's profile minimum loan amount
offered is as low as Rs. 10,000 and maximum loan amount can exceed Rs. 50 crore.
The applicant should be at least 21 years (at the time of application) and max
65 years (at the time of maturity)
The interest rate varies from lender to lender. A typical interest rate of a
Business loan is 13% onwards.
Business loan tenure can vary from 12 months to 5 years.
Fees and charges differ from lender to lender. The financial institutes levy
different fees structure.
There are various types of business loans offered by NBFCs and banks like
secured and unsecured business loan, MSME loan, Mudra loan under PMMY, working
capital loan, line of credit, equipment finance, bill discounting, and machinery
purchase loan.
Primary factors for Loan Eligibility are as below:
- Credit score of the entity and/or the partner/director/proprietor of the borrowing entity as reflected in Credit (CIBIL or Equifax) report or any other credit bureau. Good credit score is necessary but not the only criteria. If credit score is at border line, the bank may take a call to limit principal amount.
- Financials of the borrower / borrowing entity in last 2-3 years are very important for calculating loan eligibility. Key parameters considered for calculation of loan eligibility are turnover, partner/director salary, depreciation, interest cost, net profit after tax etc.
- Debt service coverage ratio (DSCR) depicts the ability to pay EMI for applied loan amount. Normally it is considered that DSCR should be in the range of 1.0 to 1.5.
Banks have their own rules when it comes to pre closure of Business Loan. Some
banks offer lock-in of 6 months to a year while some banks allow pre closure
after the 1st EMI has been paid. For pre closure some banks do not allow balance
transfer (borrower should close loan with its own money). In addition, banks may
allow pre closure at no cost or may levy a pre closure fee (2-5% of the amount
being pre-closed). All these terms have to clearly checked with your landing
organization.
Some banks allow part payment. However there are restrictions on the annual
frequency of pre payments. These terms have to clarified with your landing
organization at the loan application processing.
Repayment happen via EMI through borrower 's bank account. Borrower should give
some PDCs (Post Dated Cheques) and sign an ECS mandate in favour of lending
bank.
In case you do not pay personal loan EMIs and are unable to make future
payments, the lender makes attempts to recover the due amount through
settlements and recovery agents. If such attempts fail, your loan account will
be marked as Default. This business loan will show up on your credit report as a
default, which will adversely affect your credit score and make it difficult for
you to get approval for loans and credit cards in the future.
Loan amount x Interest/12) x [(1+ interest rate/12)^loan tenure in number of
months] / ([(1+ interest rate/12) ^ loan tenure in number of months]-1
Loan approval takes around 3-5 Working days if all the required documents are
submitted on time and with accuracy.
- Step 1: Complete all paper work in initial phase when planning on going for Business Loan
- Step 2: Calculate the immediate cash requirement keeping future in mind
- Step 3: Get expert 's assistance
- Step 4: Check the fee, rate of interest and other charges for each bank
- Step 5: Ask questions without hesitation