Small Business Loans

“Quality Is The Best Business Plan And PlanGrip Work For That!”

Nowadays, it is easy for you to get a small business loan most business owners do not get small business financing because they are looking at the wrong places. But you are in the right place – Meet PlanGrip – Your one solution for all your business issues.

Here’s everything, because Plangrip works for everything where you need to know about getting a small business funding – You also need to know how to apply, qualify and compare options to get a good deal.

In India, PlanGrip has financed small business lending at lowest interest rates – We provide business loan and designed to help you grow your business. We will get you covered.

Why A Small Business Loan Is Perfect For Your Business?

Without any difficulty, the best business loans fuel that growing your business, so you have financial flexibility for your daily work. Getting a small business fund helps you cover the expenses that not only keep your business running but also help you grow and expand.

Small Business Loan

Loans given to small and medium businesses, such as fulfilling the requirements of working capital, infrastructure requirements, expansion, and upgradation, are named as new small business loans.

These loans are for small businesses, which may or may not qualify for traditional business loans. Since they are less restrictive and require minimal paperwork, small businesses can benefit from these loans.

Why Apply For A Small Business Loan At PlanGrip?

  • Quick calculation – We help in the calculation of loans for the user eligibility instantly.
  • The easy online application process – You can complete our online business loan application in 15 minutes with simple steps.
  • Small and speedy documentation – Sometimes we ask for additional documents, but we make it easy for you to upload your files online at just one click.
  • Hassle free approval – Approval is almost as fast as you think because we know that you don’t have time to wait.
  • No security or collateral required – There are no hidden charges for taking a loan.
  • Low-interest rates – All our finance solutions are offered at competitive business loan interest rates, which ensure that they can be easily affordable.
  • Easy monthly EMI payment option – Enjoy flexible tenures and hassle-free EMI payment.
  • Quick business loans disbursal – Once you are approved, you will be accessing your funds in as little as 24 hours.

How To Get Fast Small Business Loan Through PlanGrip?

Secure funding for a small business is very easy. To apply for small business funding, just fill out our quick and easy online application it will take less than 20 minutes. And of course, don’t forget to upload the documents as well. After that one of our loan specialists will contact you to learn more about your business.

Your credit specialist can help you decide which small business amount are good for your business and circumstances. Once you apply for fast business loans financing, you will get the answer within 24 hours.

What Are The Eligibility Criteria For Small Business Loans?

There is a number of factors that are considered to be eligible for a business loan. However, business loan eligibility criteria and documents for the business fund are different for each loan. And some criteria are listed below:

  • Age limit – The minimum age of the applicant should be 21 years & the maximum age of the applicant should be 65 years.
  • Applicant profile –  The applicant should be working in a reputed private company or a government company.
  • Income: A business must earn profits from at least 1 year.
  • Business experience –  Applicant should have at least 60 months of business experience and current business should be at least 48 months old.
  • Turnover –  $2880.60 p.a. should be the minimum annual income.

What Are The Documents Required To Apply For Best Small Business Loans?

Here is a list of documents that are commonly required by all the business loan.

      • Identity proof
        PAN / Passport / Aadhaar card.
      • Photographs –
        2 passport size colour photo.
      • Residential address proof –
        Ratio card / Telephone Bill / Electricity Bill.
      • Financial documents –
        Last 3 years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA.
      • Income proof –
        Last 12 months bank account statement.
      • Certification proof –
        Certificate and proof of business existence.
      • Business profile –
        Business ownership proof.
      • Office address –
        Ownership/ lease / utility bill / rent agreement.

Some Benefits Of Getting A Small Business Loan

When starting a new organization or business, people sometimes get some financial assistance in the form of business loans or it can be taken out for several reasons. In fact, there are many benefits to having small business funds such as

  • Increase business cash flow – The money got from a small business is an additional resource that can be used in the area of the business where required.
  • Easy business loans availability – We offer business loans without any collateral and this makes it easy for all small entrepreneurs to avail this type of loans.
  • Tax benefits – This loan enables you to save some tax. This is because there are few sectors of the income tax act that express the percentage of profit used to repay the loan amount.
  • Lower fees & rates of interest – We provide loans at lower fees and small business loan rates than other agencies.
  • High flexibility – The flexibility of small business funds extends to their repayment provisions.
  • Company reconstructs – Many people take out small business amounts to do some repair or reconstruct the company.
  • Instant approval – Quick hassle free application process with instant approval for short term loan such as small business loan.

How To Determine Interest Rates for Small Business Loans?

If you think that what are the factors that decide the interest rates of a small business loan? So, come let’s talk about some factors and the following factors are:

  • Business History – If your business is a minimum of three years old, then the chances of getting a business loan at a very reasonable interest rate.
  • Credit score – If an applicant has a good credit score can easily get a business loan.
  • Time in business – Longer the existence of any business will be a 100% probability of getting a loan.
  • Monthly revenue – Monthly business revenue is always a key factor for any kind of loans.
  • Collateral – It provides security to offer a better as well as bigger amount then, your loan will be considered a secured loan.
  • Cashflow – If your cash flow statement shows poor or irregular cash flow, then you will charge higher interest rates while taking business finance.

“Get in touch with us to know more about our offerings and apply for the loan online!