Collateral-free
Unsecured business loans do not require land, property, bank guarantee or any other business collateral
Business Loan in Assam
RBI Registered NBFC
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How does Business Loan Work?
Business Loan Benefits
Low cost credit
The interest rate charged on a business loan is relatively lower than that of loan
100% digitized process
The online business loan process is fast and hassle-free
Flexible repayment options
A business loan can be repaid with flexible EMI options
Instant disbursement
Get loan disbursement within 24-48 hours of the amount being sanctioned
Business Loan Eligibility & Documents
Apply with minimal documentation
Eligibility
Minimum turnover ₹3 crores
Business vintage 3+ years
Required Documents
KYC details
Last 6 months of banking
Financials for previous 2 fiscal years
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
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Enhanced Security Features
Hassle-free Loan Applications
Simplified Documentation Process
Get Disbursals on the Fly
Ledger on Your Fingertips
Enhanced Security Features
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
Minimum Paperwork
Attractive interest rate
Flexible repayment tenure
Approval within 48 hours
Nominal processing-fee
Easy EMI options
Business Loan in Assam: Working capital Finance For Business
In the vibrant state of Assam, a land rich in culture and resources, there’s a growing need for financial solutions that cater to the burgeoning business community. Oxyzo Business Loan emerges as a key player in this domain, offering a business loan in Assam that’s tailored to meet the unique demands of the local market.
Oxyzo’s business loan in Assam is a game-changer, especially for SMEs looking for collateral-free finance. Understanding the challenges and opportunities within Assam’s economy, Oxyzo offers a range of financial products, including working capital finance and industrial loan in Assam, designed to empower businesses at various stages of their growth.
A significant feature of Oxyzo’s offering is its focus on providing collateral-free finance. This is particularly beneficial for small and medium enterprises (SMEs) in Assam, which often face hurdles in securing loans due to the lack of collateral. Oxyzo’s approach to finance for SMEs in Assam breaks down these barriers, enabling more businesses to access the funds they need for expansion and growth.
For businesses in Assam seeking an industrial loan, Oxyzo offers competitive rates and flexible terms. These loans are designed to support the diverse industrial sector of Assam, which includes tea production, petroleum extraction, and more. With Oxyzo’s industrial loan in Assam, companies have the opportunity to scale up their operations, invest in new technologies, and enhance their competitiveness in the market.
Applying for a business loan in Assam through Oxyzo is a streamlined and user-friendly process. Entrepreneurs can easily apply for business loan online, saving time and reducing paperwork. This digital approach not only simplifies the application process but also speeds up the disbursement of funds, allowing businesses to act quickly on their growth plans.
In conclusion, Oxyzo Business Loan is revolutionizing the way businesses in Assam access financial support. With loan amounts ranging from INR 5 Lakhs to INR 2 Crores, a starting interest rate of 12%, a fully digitized application process, and flexible repayment options, Oxyzo is not just a financial institution; it’s a partner in the growth and success of Assam’s business community.
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.
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