Business Loan

Get quick & convenient business loan solutions to meet your fixed asset expenditure & fulfill all your business goals.

RBI Registered
RBI Registered NBFC

Check Your Loan Eligibility in Just 2 minutes!

Attractive interest rates
Attractive interest rates
Unsecured Loan upto 5 Crores
Unsecured Loan upto 5 Crores
Approval within 48 Hours
Approval within 48 Hours

Business Loan Eligibility & Documents

Apply with minimal documentation

Eligibility

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Minimum turnover ₹3 crores
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Business vintage 3+ years

Required Documents

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KYC details
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Last 6 months of banking
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Financials for previous 2 fiscal years
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GSTR details for current fiscal year

Business Loan Interest Rates, Fees & Charges

Interest Rates
Starts from 12% per annum
Processing Fees
Starts from 1% per annum
Penal Interest
Starts from 2% per month + Applicable Tax
EMI & Check Bounce Charges
500 + Applicable Tax

Business Loan Benefits

Collateral-free

Collateral-free

Unsecured business loans do not require land, property, bank guarantee or any other business collateral

Low cost credit

Low cost credit

The interest rate charged on a business loan is relatively lower than that of loan

100% digitized process

100% digitized process

The online business loan process is fast and hassle-free

Flexible repayment options

Flexible repayment options

A business loan can be repaid with flexible EMI options

Instant disbursement

Instant disbursement

Get loan disbursement within 24-48 hours of the amount being sanctioned

How does Business Loan Work?

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Enhanced Security Features

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Hassle-free Loan Applications

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Simplified Documentation Process

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Get Disbursals on the Fly

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Ledger on Your Fingertips

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Enhanced Security Features

Business Loan

Step-by-step online process to apply for Financing
1
Check Eligibility
Check your loan eligibility
2
Submit Application
Complete a 100% online application form
3
Get Sanctioned
We will evaluate your application and propose a fair sanction
4
Receive Funds
Get disbursements within 2 days of sanction

Why Oxyzo?

Oxyzo provides new-age customized financing
products for your business needs

No collateral required

No collateral required

Minimum Paperwork

Minimum Paperwork

Attractive interest rate

Attractive interest rate

Flexible repayment tenure

Flexible repayment tenure

Approval within 48 hours

Approval within 48 hours

Nominal processing-fee

Nominal processing-fee

Easy EMI options

Easy EMI options

Know about Business Loans

A business Loan is the long term financing solution provided to SMEs. Due to a lack of cash reserves, SMEs face issues with cash flow management. The business financing solution the SMEs can consider in such situations is an online business loan. With the instant business loan,SMEs can expand their business, renovate existing manufacturing plant and machinery and boost production in a short time. Small businesses can thus unleash their full potential and accelerate their growth. Oxyzo, the SME-centric RBI registered NBFC, offers the best business financing solutions, such as collateral-free business loans to its clients that are completely digitized, and hassle-free with no hidden charges

Frequently Asked Questions

What is a business loan and for what purpose is it used ?
A business loan is a form of term loan that is specifically used by SMEs for business expansion purposes and to help them grow and scale their business. Monthly payments are fixed over the tenure with a lending agreement.A lending agreement is signed between a lender and a business. The lender provides money to the business. The business repays in an agreed-upon duration of time with an agreed amount of interest. We offer it as a term loan as it can be paid back quickly in EMIs convenient to the SME owners.
Does Oxyzo provide business loan without security only ?
No, Oxyzo offers both unsecured business loans and secured loans for setting up new factories, renovating existing plants and other business expansion activities.
How is the eligibility calculated for a business loan ?
Business loan eligibility depends on the business vintage and turnover. SMEs must have a minimum turnover of 3 crores and a business vintage of atleast 3 years to apply for business loan online.
What are the business loan documents required ?
SMEs are required to apply online for a business loan with the following documents:
  • KYC documents
  • Last 6 months of banking
  • GSTR details for the current financial year
  • Financial statements for the previous 3 financial years.
What is the maximum business loan offered by Oxyzo ?
The business loan limit in Oxyzo depends on the eligibility, your requirement and our comfort. If you meet our basic guidelines and our team has comfort in terms of credit assessment, we offer a decent sanction.
What is a safe credit score limit to secure business loans ?
It will vary from one lender to another & based on the credit authority they are using, but it is safe to maintain a credit score above 700. The higher or better your credit score, the more favourable it is for you to secure the loan.
Can startups and small businesses secure business loans ?
Yes. They can. There are specific types of business loans specially tailored for startups and SMEs to help them grow and compete with legacy players.
How long does it take for business loans to be approved ?
This varies from lender to lender, but platforms like Oxyzo that use a digitalised process instantly approve your loan and disburse the funds.
What are the consequences of default repayment ?
It is highly inadvisable to do so as it can affect your credit score drastically, preventing you from securing future loans.
What happens when a business loan is prepaid ?
You can pay your loan back before the repayment schedule, but a nominal prepayment charge will be imposed on you.

More About Business Loan

Business Loans in India 2024

Overview

In the continually evolving business landscape, it is highly essential to have access to working capital and money to ensure that your business runs smoothly without any impediment. Core business processes require funds and capital depending on the size of your business and the scale you want to achieve. Therefore, irrespective of your size, the inflow of capital is very important for your growth and functioning. Business loans are effective solutions to this fund shortage. They bridge the gap between demand and delivery for businesses and help them grow effectively without any hurdles. Financial partners like Oxyzo provide impeccable solutions when it comes to business loans in India. Oxyzo's offerings are seamless and tailor-made for all businesses. In this article, we will take a look at the nuances of business loans, benefits, application processes, etc.

Business Loan Interest Rates 2024

Being aware of the latest interest rate slabs is very important for making an informed financial decision, which is essential for the sustenance of the business. Interest rates usually vary from one lender to another. It is decided on the basis of the type of loan, the total amount of the loan, the credit score of the borrower and many other factors. To ensure effective financial planning, it is always advisable to compare interest rates before making a final decision.

Oxyzo provides a really attractive rate of interest for their business loans. Starting from 12% per annum with a processing fee of 1% per annum, it creates a favourable package for businesses of all scales. It is in the best interests of the business owners or borrowers to always check the business loan interest rates and analyze if it suits them before taking such important financial decisions as securing a business loan.

Types of Business Loans Available

Let’s dive into the various types of business loans available in the Indian market. From long-term loans to working capital loans, each option serves a specific purpose.

Term loans: These are traditional loans that offer a lump sum to the borrower, with interest payable over a fixed term. Term loans are ideal for investing long-term, such as purchasing equipment, expanding operations, or introducing new products.

Business Loans: Intended to finance day-to-day business expenses, working capital loans ensure that enterprises or businesses have the funds they need to meet their short-term financial obligations. These loans are critical to sustaining operations.

Secured Loan: A secured business loan requires collateral such as property or equipment to avail the loan. The lender can foreclose on the loan balance. Secured loans generally carry lower interest rates due to reduced risk for the borrower.

Unsecured loans: Unlike secured loans, unsecured business loans do not require collateral. However, their interest rates generally rise to compensate for the increased risk posed by the lender.

Government-backed schemes: Various government agencies aim to provide subsidised loans and financial assistance to support small and medium enterprises (SMEs). These programs may come with simplified eligibility criteria and relevant information.

Machinery Loans: These are specially designed for businesses that need to purchase machinery or equipment. The instrument itself acts as collateral for the loan.

It is very important to understand the needs and requirements of your business before making a decision as to what type of loan will suit your needs the most. Therefore, always do a thorough analysis of your requirements and the offerings or features of a business loan to make the right decision for your business.

Business Loan EMI Calculator

It’s important to understand the potential repayment burden before committing to a business loan. Use an EMI (Equated Monthly Installment) calculator to calculate your monthly loan repayments based on the loan amount, interest rate and tenure.

EMI calculators simplify the complex calculations of figuring out your monthly repayments. The calculator provides accurate EMI data by entering the loan amount, interest rate and tenure. The business loan calculator empowers you to make informed decisions in line with your financial capacity. Follow these steps to use the business loan EMI calculator:

  • Enter the loan amount: Enter the desired loan amount you are requesting from the lenders.
  • Set Interest Rate: Enter the appropriate interest rate. This business loan interest rate can be either fixed or variable, depending on the terms & conditions of your loan.
  • Select the loan term: Select the loan term or the number of months you plan to repay the loan.
  • EMI Calculator: Click on the calculate button to get the monthly EMI amount.
  • Result Analysis: Check the detailed breakdown of your EMI, including principal and interest components.
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