Why Choose moneyview Start-Up Loan for New Business

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Flexible Amount

Avail loan amounts from Rs.5,000 to Rs.10 Lakh, depending on your eligibility

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Quick Disbursal

Once your loan is approved and you have submitted the loan agreement, the loan amount will be deposited in your bank account within 24 hours in most cases

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Collateral Free Loans

You don’t have to arrange for any guarantor or pledge any asset while applying for personal loans from moneyview as they are unsecured loans

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Affordable Interest Rates

Affordable interest rates starting at 1.33% per month

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100% Online

The entire process from application to disbursal is completely online

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Flexible Repayment

Flexible repayment terms starting from 3 months to 60 months

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Loans on Low Credit Score

You can get a loan from moneyview with a CIBIL or Experian score of just 650

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Quick Eligibility Check

Find out your eligibility within just 2 minutes from the moneyview website or app

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.

Eligibility Criteria for moneyview Start-Up Business Loans

In order to avail of instant personal loans or startup business loans from moneyview, the following criteria will have to be met -

Documents Required for Money View Startup Business Loans

The documentation required for applying for small business loans or personal loans from moneyview is minimal. All you will have to do is - 

Please note that the documentation requirements will vary based on your profile. You may be required to upload proof of address, bank statement, and other supporting documents. 

In case you are required to upload proof of address, any one of the following documents will suffice - 

In case you are required to upload proof of income, you must furnish your bank statement for the last three months. This statement must also show your salary credits.

Other Options for Startup Business Loans

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’ -

Startup Business Loans from the Government

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 -

Pradhan Mantri Mudra Yojana

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 -

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.’

Credit Guarantee Scheme for Micro and Small Enterprise (CGSMSE)

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.

Startup Business Loans from Banks and NBFCs

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.

How to Get moneyview Startup Loan for New Business

You can get a moneyview personal ‘loan for starting new business without security’. The process of applying for a moneyview personal loan is very simple and involves only 4 simple steps - 

STEP 1: Check Eligibility

Visit the moneyview website or loan app. Provide the required details and find your eligibility in 2 minutes.

STEP 2: Select Loan Tenure

Based on the options provided, select the loan amount and repayment term of your choice.

STEP 3: Upload Documents

Upload all of the necessary documents online for verification.

STEP 4: Amount Disbursed

Post verification and submission of the loan agreement, the loan amount will be credited to your account within 24 hours in most cases.

Conclusion

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 from 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!

Business Loans for Startups - Related FAQs

Yes, the Mudra loan is available at most leading nationalized and private banks.

If you are looking for a small business loan to start afresh, you can apply for a loan at any bank, NBFC, or lending institution. You can also take a personal loan for starting a new business without security.

No, the Mudra loan is not interest free, and you have to pay interest rates based on your eligibility, as any other loan. But you will get the loan at a subsidized rate as it is given under a government scheme.

There are many business loan schemes in various banks, as well as government schemes or startup business loans. Depending on your nature of business, fund requirement, and other criteria, you can choose a small business loan that is best for you.

Business loans normally are taken for shorter tenures, anywhere between 1 year to 5 years. But the tenure, just like the interest rate is decided based on your eligibility criteria. 

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