Business Loan

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    What is a Business Loan?

    A Business Loan is an amount taken by business-owners from Banks and other lending institutions to meet a business-related expense. The amount could be to meet operational and working capital costs like salaries and inventory, expand the business, increase output, and pay off other business debts or liabilities.

    Business success is difficult, and at OneNDF , we understand the importance of a loan in achieving business milestones. We are here to make the process quick and easy, thus enabling you to focus on business matters.

    Why choose OneNDF for a Business Loan?


    • Pioneers in video-conferencing & digital consultation.


    • Seamless Customer Experience


    • Lending Uncomplicated


    • Disbursement Simplified

    Pioneers in video-conferencing & digital consultation.
    We are using Combinatorial technology; a unique combination of conventional & contemporary loan process. Our platform will empower you to negotiate with multiple Loan Officers in one window at one time; saving you time, efforts and most importantly MONEY. It will lead to higher productivity & transparency for all the stake-holders (Loan Officer, Consultant and the Customer).

    Lending Uncomplicated
    Through our platform; you can clear all your queries with the Loan Officers directly without having to meet them in-person. Our Omnichannel platform will safeguard critical information from being lost in transition; also saving your precious time for multiple discussions.
    At OneNDF; our Home Loan Pundits are equipped to evaluate and present to you top 5 Lending Banks / NBFCs (using our proprietary software) to evaluate from our exhaustive list of Lending Partners. It will automate you to decide which bank to go with to get the required loan product.

    Seamless Customer Experience
    Customers are our priority, and our motto is to make the entire loan process incredibly smooth by bringing clarity from the first day, for the main attributes of the loan application. You can experience our platform for complete transparency – in terms of Loan Product, Loan Amount, ROI, Processing Fee, Foreclosure Charges, Insurance and On-time Disbursement.

    Disbursement Simplified
    Our work does not end at just ensuring the file is processed in the Bank; we are with you at each step of the way. We will help you complete the entire process of Disbursement; ensuring the transaction is complete, property papers are submitted with the Bank; and the EMI debit form – NACH is dully submitted and updated with the Lender and the Bank (from where the EMI is deducted).

    Business Loan Fees & Charges

    Here are the common fees and charges pertaining to a Business Loan.

    - Interest Rate: 15% onwards
    - Loan Amount: upto 5 crores
    - Loan Tenure: usually 36 months; for some Lenders the Loan Tenure can be more. At OneNDF; we can help you gauge if you are eligible for a higher tenure and which Lender is offering it.
    - Processing Fee: 2-4%
    - Foreclosure Charges: usually 4% of the principal outstanding. However; it may vary for each Lender.

    Please note the above rates are indicative of the Loan commercials being offered by the Lenders. The Final Loan Terms will be decided and shared by the Lender at the time of Sanction. The final commercials may vary based on the borrower’s financials, repayment capability and the credit policy of the Lender.

    • Processing Charges

      Most lenders request a nominal fee as administration and processing charges to process your application.

    • Pre-payment Charges

      The pre-payment charges are up to 5% of the outstanding loan amount. You can understand all about prepayment or foreclosure charges by contacting the OneNDF Loan Pundit.

    • Late-payment fee or Check-Bounce fee

      In case a borrower is unable to pay an EMI by its due date or in the case, the cheque bounces, Banks and NBFCs will levy a penalty. The Late payment charges may vary; but generally, the borrower can end up paying up to 2% extra of the outstanding EMI amount for each default month. Reach out to a OneNDF Loan Pundit to understand all such fees and charges in detail.

    Business Loan Features and Benefits

    A Business Loan helps in maintaining a healthy cash flow and managing financial requirements without undue stress. Let your enterprise scale new heights with the financial boost it deserves.

    • No Collateral Required Avail a Business Loan without having to give collateral, and in some cases, without a guarantor. Please remember Banks and NBFCs will review creditworthiness and business profits to determine the loan amount and internet payable.
    • Maintain Ownership A Business Loan does not require you to part with equity of your business. Maintain complete ownership and grow the business as you deem fit.
    • Competitive Interest Rates Interest rates offered on Business Loans are competitive across Banks and NBFCs. The applicable interest rate is determined based on business profile assessment, financial assessment, past track record, loan amount and tenure.
    • Flexible Loans We help you access customized Business Loans to meet the unique requirements of your business.
    • Overdraft Facility Many Banks and NBFCs offer business owners the option of an Overdraft facility. It enables borrowers to draw cash exceeding the agreed-upon Business Loan amount. Interest is paid on the amount the borrowers withdraw and not the total Overdraft Loan Amount.

      We are here to guide you through the eligibility and documentation requirements. Our Business Loan Pundit is here to help you understand all the criteria for instant approval and complete the application process as per the lender’s requirement.
    Eligibility Criteria Requirement
    Age Should be 21 years at the time of application and up to 65 years (in case of salaried) / 70 years (in case of Self Employed) at the time of the maturity of the loan.
    Resident Type
    • Resident Indian
    • Non-Resident India
    Minimum Annual Turnover 1 Cr for Manufacturers & Traders
    Residence Should have at least one of the following:

    • A permanent residence
    • A rented residence where they have been residing for at least one year prior to the application of the loan.
    Credit score Above 650
    Self Employed Individuals
    Duly filled Application Form with Passport size Photograph
    Individual KYC & Proof of Residence
    Registration Certificate/Proof of business along with Business Profile
    Income Proof & Bank Account Statements (self & business) – previous 6 months
      Loan Schedules & Sanction Letters of all credit facilities (If Any)

     

    FAQs

    Any business owner can apply for a Business Loan if they meet the eligibility criteria of the Bank or NBFC. Some of the eligibility criteria are business turnover (minimum Rs 1 crore), and a credit score of 650.

    No, you do not have to provide collateral to apply for a Business Loan.

    You repay a Business Loan through Equated Monthly Installments or EMIs. The EMI for a Business Loan is paid via ECS/NACH from the Bank account. Each EMI pays of a portion of the principal amount and the interest amount.

    The Business Loan you can avail is determined by Banks and NBFCs. It is based on business profile assessment, financial assessment, past track record, loan amount and tenure.

    The minimum and maximum tenure of a Business Loan ranges from 12 months to 36 months. Please reach out to our Business Loan Pundit to know the tenure you can get.

    The following can apply for a Business Loan: Self-employed Professionals (Medical Practitioners, Financial Professionals), Entrepreneurs (Both Men and Women), Business Entities (Private Limited Companies, Public Limited Companies)

    The fact that the Bank / NBFC is not taking a collateral makes this type of loan to be expensive to borrow. Additionally; the short duration of this loan adds to a bigger EMI than a Secured Loan.

    Typically; the amount depends on the eligibility of the Business. But if we talk about the Lending Capacity of the Banks / NBFCs – it depends on the policy. Usually; anything upto 30 lacs most of the banks / NBFCs offer. Some Banks / NBFCs also disbursed upto 1 crore.

    The interest Rate is Fixed.

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