Starting your own business is nothing short of an accomplishment and can help you become financially independent. Along with ideas and execution, having financial support and capital is also necessary.
This is where start-up business loans can be useful and Moneyview is one of the most popular providers of the same. You can easily take a ‘loan for starting new business without security’ from Moneyview, as personal loans are unsecured loans.
Attractive Loan Amount
Get loans from Rs.5,000 to Rs.10 Lakh based on your eligibility
Collateral Free Loans
You can get a personal loan through Moneyview without having to vow any asset or arrange for a guarantor
Fast Disbursal
The loan amount is disbursed to your bank account within 24 hours of approval
Affordable Interest Rates
Interest rates starting from just 14% per annum
In order to avail of instant personal loans or startup business loans through Moneyview, the following criteria will have to be met -
The borrower should be between 21 and 57 years of age
They must earn a minimum of ₹25,000 or more monthly
Income must be credited directly to their bank account
They must have a minimum CIBIL score of 650
The documentation required for applying for small business loans or personal loans through Moneyview is minimal. All you will have to do is -
Your PAN number
Your mobile number will have to be linked to your Aadhaar card for KYC verification
You must also enable the auto-debit facility on your bank account in order to permit automatic withdrawals from your account. Use a debit card, net banking, or a NACH form to finish this quick procedure.
The auto-debit facility will enable you to pay your EMIs automatically each month, eliminating the need for manual intervention.
Our lending partners provide some of the market's most fair and affordable interest rates. The fees for startup business loans are -
|
Fees and Charges |
Amount Chargeable |
|---|---|
|
Interest Rate |
Starting from 14% per annum |
|
Loan Processing Charges |
Starting from 2% of the approved loan amount |
|
Penal Charges on Overdue EMI |
24% per annum plus applicable taxes, if any |
|
NACH Bounce |
₹500/- each time |
Loan Amount
Min ₹10
Max ₹25,000
Rate of Interest
Min 5%
Max 25%
Loan Tenure
Min 3 months
Max 72 months
There are many options to get small business loans. If you wish to get an additional loan or are looking for other options, here are some other ‘start up business loans’ -
The Government of India is keen on enabling the start-up sector in the country and hence allows many different types of loans for starting new business without security.Some of the popular loans allowed by the government -
Popularly known as the Mudra Yojana, this scheme introduced by the government supports MSMEs (Micro, Small, and Medium Enterprises). Businesses can get one of the three categories of loans depending upon the state of the business.
These are -
Shishu - Loans up to Rs.50,000
Kishore - Loans range between Rs.1,00,000 - Rs.5,00,000
Tarun - Loans range between Rs.5,00,000 - Rs.10,00,000
Loans for business under PMMY can be availed at all nationalized banks, Non-banking financial institutions, co-operative banks, small finance banks, and micro-financial institutions as well. The Shishu loans are ideal as ‘start up business loans.’
Most micro and small enterprises find it very difficult to raise loans due to a lack of collateral. In order to rectify this situation, CGSMSE was launched by the Government of India in the year 2000 to provide funds for micro and small enterprises.
The loans under this scheme are collateral-free, especially meant for new and existing micro and small enterprise units. The loan amount under this scheme can go up to Rs.1 Crore.
The Credit Guarantee Trust established under this scheme acts as a guarantor to the lender. It provides coverage of up to 75% of the loan amount, in case the borrower defaults on the loan.
Banks and Non-Banking Financial Institutions, etc provide business loans to startups. The loan amount and the eligibility criteria of small business loans can vary between lenders.
Business loans can take the form of short-term loans like working capital loans or overdrafts or other long-term loans. The interest rate is not generally very high on these loans.
However, the documentation and the eligibility conditions for these business loans can be very hard to fulfill, especially for a start-up.
1
Assess Your Eligibility
Quickly check if you are eligible on the Moneyview platform in only 2 minutes!
2
Pick Your Repayment Duration
Select the desired loan sum and repayment period from the options provided.
3
Share Your Documents Online
Share only essential documents for profile verification, easily uploading them digitally.
4
Funds Disbursed
Once your application is validated and the loan agreement finalized, funds will be transferred to your bank within 24 hours!
Need Quick Cash?
If you were looking for start up business loans, you can opt for any of these options. There are various government schemes, banks, and NBFCs that offer small business loans.
Instant personal loans through Moneyview can easily act as startup business loans and are easy to avail. It is affordable and takes less than 24 hours for disbursement once the loan has been approved. So, if you are planning to start a business then visit the Moneyview website or download the app and apply now. Good luck!
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