I need urgent funds for business expansion.
If you want urgent funds for your business, the best option is to go for an unsecured loan from an NBFC.
NBFC s have a simple online application process, the documentation required is minimal, and the loan disbursal is also quick, in some cases as less as 3 days.
But before you go ahead with the application, it is advisable to check the eligibility first.
Eligibility for a quick unsecured loan is as follows:
- Business turnover (minimum Rs. 15 lakhs)
- Age of the applicant (minimum of 21 years)
- The activity of the business (minimum 1 year)
- ITR should be more than 2.5 lakhs of the previous year
- Credit score (between 750-900, a credit score above 750 considered good)
- Place of business operation should not be the owner’s house
- Business premises should be owned by the owner