Collateral plays a vital role in the Loan. Processing the loan without collateral is very difficult. In that case, an unsecured loan comes to the rescue. An unsecured Business Loan is a collateral-free loan. There is no need to attach any collateral or security. Also, you can use the amount for any purpose in the business like instant demand for working capital or the purchase of machinery, etc. Hence, it is a boon for the new ventures.
Unsecured Loans Facility Bank’s : Private Bank’s / NBFC’s
Type of loans available : Term Loan/ Overdraft
Loan Amount : Up to Rs. 10Cr.
Tenure : 3-5 Years
Key Features :
No End-use Letter/ Debtor/ Stock Statement
No Yearly Renewal
No need to submit yearly balance sheets
No need to submit noc of existing banker
Renewal : No Yearly Renewal
Syndicated EMI Option : Available
We recommend you check loan-related expenses during the loan process while enquiring about the loan.
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