//Push Notification Skip to main content

Business Loan

Get best deals on Business Loans starting at 17% p.a. Compare offerings from a wide range of Banks/NBFCs to avail a Business Loan most suited to your needs.

Get The Business Loan Of Your Choice With Andromeda

Instant Approvals

Get complete access to our in-house CRM to avail instant Business Loan approvals for your customers.

Widest Choice For Best Deals

With over 125 lending partners, get the widest choice of Business Loans for your customers.

Secured Systems

Ensure maximum protection for your data, as well as your customers’, from online theft.

Easy Mobile Tracking

Track your customer’s Business Loan status efficiently, using our digital platform and in-house CRM.

Business Loan Features and Benefits

Starting at 17% p.a.

Minimum
Documentation

Get a Business Loan without collateral or security, and with minimum to no paperwork.

Fixed Rate
Of Interest

Pay interest on Business Loans only on the principal amount outstanding.

Quick Turnaround Time

Get a Business Loan disbursed into your current account, in a few hours to a few days.

Flexible
End Use

Avail a Business Loan to meet your day-to-day expenses such as utility bills, buying machinery, setting up equipment, upgrading inventory, employee salaries, expansion, etc.

Flexible Repayment Tenure

Enjoy a flexible repayment tenure on your Business Loan of up to 5 years.

 

Calculate Your Business Loan EMI

Calculate your Business Loan EMI for different interest rates, loan amounts and tenures, using Andromeda’s Business Loan EMI Calculator.

 
 
 

Loan EMI

66,736

Loan EMI

66,736

Principal Amount

50,50,000

Interest Amount

29,58,335


Total Payable Amount

80,08,335

Business Loan Rates

Compare Business Loan features of banks across key categories.

Bank name

Interest rate

Processing fees

7.5%

0.35%

6.5%

0.35%

7.5%

0.35%

7.9%

0.35%

7.5%

0.35%

7.5%

0.35%

7.5%

0.35%

Age:

21 - 60 years

Credit Score:

750 and above with no past defaults.

Nationality:

Indian Citizen with a valid bank account and no criminal records.

Get the best deals on Business Loans on Andromeda, and apply for one in an easy and hassle free manner.

1. Personal details

Fill up your personal details such as occupation, city, monthly income, phone number, etc. Then, click Proceed.

2. Loan Offers

Browse through the various offers on Business Loans and select the one that’s best suited to your needs.

3. Additional details

Fill out any additional details that may be required.

4. E-Approval

Your selected lender will send you an instant e-approval. Following which, a representative from your selected lender will get in touch with you to guide you through the documentation process.

Frequently Asked Questions

A manufacturer’s needs are not the same as that of a trader’s. Neither are those of a retailer’s to that of an MSME. Therefore, multiple Banks/NBFCs provide different kinds of Business Loans for different purposes. It’s prudent to first assess your business’s exact requirements in order to know what kind of Business Loan is best suited for you.

  • Term Loan :  As the name suggests, a Term Loan is for a fixed period of time. There are Short-term Business loans and Long-term Business loans. Entrepreneurs can pick and choose from the two based on their requirements. A short-term Business Loan is typically for 12 months, while a Long-term Business Loan can extend as far as up to 5 years.
  • Working Capital Loan :  Businesses need funds to meet their day-to-day expenses such as paying utility bills, buying machinery, setting up equipment, upgrading inventory, employee salaries, expansion, etc. A Business Loan can be availed to meet such working capital needs without having to disturb your personal finances.
  • Bill Invoice Discounting : Invoice Discounting or Bills Discounting is a special type of Working Capital Loan that’s designed for sellers of goods on credit. Under this form of financing, sellers can recover the total value of their sales bill from their Bank/NBFC even before it’s due from the buyer. The Bank/NBFC charges a nominal fee for the service provided.
  • Letter of Credit : Used primarily in international trade, Letter of Credit is a financial instrument by which banks/NBFCs provide monetary guarantee to enterprises which deal in import and export of goods. This is especially useful when dealing with unknown parties and the supplier/exporter is looking for payment assurance.
  • Overdraft Loan : An Overdraft is the amount withdrawn over and above the balance in one’s savings/current account. Banks/NBFCs allow businesses to overdraw upto an amount that has been previously decided, for a nominal fee.

  • Stand Up India: Introduced by the Government of India, Stand Up India is a scheme to promote Women Entrepreneurs and those belonging to the SC/ST category. Under this scheme, the government helps banks offer Business Loans between from 10 lakhs and 1 crore to at least one Woman Entrepreneur and one SC/ST borrower per bank/NBFC branch, to help them set up their own enterprise.
  • Start Up India: Also an initiative of the Government of India, the Startup India Scheme aims to help startups fuel growth and expansion. In order for a startup to avail this benefit, it has to first obtain a certificate of recognition by applying on the Startup India Mobile App/portal.
  • Mudra Loan under PMMY: Most banks/NBFCs provide Micro Units Development and Refinance Agency (MUDRA) loans to Micro, Small and Medium Enterprises (MSMEs) nationwide. Under the Pradhan Mantri MUDRA Yojana (PMMY), SMEs can avail loans ranging from a minimum of Rs. 50,000 to a maximum of Rs. 10 lakhs.

60 years.

The higher the value of the GST paid, the larger the volume of the business. Therefore, it becomes an easy metric for banks/NBFCs to determine the reliability of businesses looking to borrow.

Banks/NBFCs generally cap the maximum amount of Business Loans at Rs. 1 crore. This limit is however subject to change on a case by case basis.

Get Instant Approval On Business Loans.

With interest rates as low as 7% p.a., and a repayment tenure of up to 5 years.