Business Loan to Scale Up New Heights

There comes a time in your life, when you are seeking for financial avenues to fuel your business growth. Whether you are starting a new business or want to expand the existing business operations and looking for immediate financial help, “New Business Loans” is the ideal choice. We at ITFI provide you new business loan to grow your business successfully and ensure you to get a loan amount at the right time. A business loan will be the perfect solution to invest in infrastructure, upgrading your latest plant and machinery, expanding operations, maintaining inventory or to increase working capital. At ITFI, customized business loans can give your business a much-needed boost to help your enterprise scale new heights with enhanced competitiveness and profitability.

Why Choose ITFI for New Business Loans?

At ITFI, we understand your dedication to growing your business, no matter what size of business you're running. Our New Business Loan for commercial funding is aimed towards helping expand your venture to help you keep your foothold strong in the highly competitive market. So whether you need funds to purchase new machinery, financials for your business marketing or advertising; ITFI will get you covered.

Grab Every Opportunity To Grow Your Business With ITFI

Make ITFI your financing partners to meet all your diverse business requirements through our New Business Loan Scheme. With decades of experience in providing loans to all-size businesses, we help you transform your business vision into a reality without any hassle. We strive to deliver excellent and customer-oriented services, though our business loan comes with a host of benefits and is tailored to your unique needs. We offer the best business loans in India with complete transparency and affordable interest rates.

Top Features of ITFI Business Loans

Comprehensive Funding Made Affordably

ITFI offers easy and quick business finance of up to 50 lakh to small to mid-size businesses at an affordable interest rates. Whatever your business needed, from short-term loans, intermediate-term loans to long-term loans, our business financing solutions are customized to suit all your funding needs.
  • Flexible Loan Services Avail the amount that you need anytime, anywhere and repay the funds as per your business cash flow at zero pre-payment charges.
  • Hassle-Free Affordable Unsecured Loans Get your business loan at ITFI in as little as 24 hours. With easy and clear eligibility criteria, any applicant applies for with limited documentation. Our simple, quick way to provide loans, makes us stand apart from the industry and providing the most convenient loan facilities to every business owner who is in need of urgent finance.
  • Instant Bank Approval Apply your application online for instant approval without submitting any security at ITFI. Enjoy the hassle-free loan processing and immediate funding without paying any excessive interest rate on your business loan.
  • No Security Deposit ITFI business loans are collateral-free that means you can easily avail the loan amount without putting your personal or business assets on the sake. As it is a collateral-free loan, funding is much faster and requires only minimal documentation.

Types of Business Loan At ITFI

  • Business Loans by Government To support the underprivileged section of the society, the government of India provides business loans under various funding schemes. The most popular Government scheme “Pradhan Mantri Mudra Yojana” specially developed to fulfill the needs of the non-cooperative small businesses and sectioning the loans to the elderly and minorities for their business needs.
  • Micro Business Loans This is a short-term business loan available with smaller EMIs that have to be repaid in the term of a maximum of 6 years.
  • Business Loan for Buying Machinery or Equipment Sooner or later, there comes a time in life when you need funds to grow your business. If you want to upgrade your workplace with the latest machinery or equipment then it is best to apply for a business loan to invest in high-tech machinery that ensures smooth functioning. Many business owners opt for this type of loan to buy high priced machinery that provides profit and enhance the productivity of your business.
  • Business Loans for Self-Employed Professionals This is a type of unsecured loan that is generally opted by self-employed professionals who want to start their firm. The self-employed professionals including CA, CS, doctor, engineer, architect, trader, commission agent, contractor or other professionals can apply for this loan to avail anywhere from 25,000 to 750000.
  • Business Loan for Working Capital Even in an ongoing business, businessmen require an ample amount of funds to sustain and fund to meet their daily operations. These loans provides much-needed support when the business owners initiating to take their venture to the next step. This type of loans are easier to apply and help you get the funds quickly.

How to Apply For a Business Loan at ITFI?

    Applying for a New Business Loan at ITFI involves five simple steps :
  • Step 1: Go to the “ New Business Loan' page on our website and click on the 'Apply Now' button.
  • Step 2: Fill out the personal and financial credentials. Once completed, your eligibility will be checked by our highly proficient loan calculator.
  • Step 3: Once you clear the eligibility, our loan calculator suggests a list of banks and NBFCs that fits your eligibility criteria. From the name of the best financial institutions to interest rates to required documents, that list will include everything.
  • Step 4: By choosing your own choice of the financial institution from the given list you can quickly begin filling the form and upload the required documents as per their requirements.
  • Step 5: After uploading the documents, your application will be sent electronically to the bank you selected. Our team closely works with the loan department and will update you on the exact status via SMS.

Eligibility Criteria for Business Loan at ITFI

Banks and financial institutions have divided applicants into two major categories based on their profession:

Self-Employed Professionals: CA, CS, Architects, Engineers, Doctors, Etc. Self Employed Non-Professionals: Trader, Commission Agent, Contractor, and other business owners, etc.

The common eligibilities for a business loan at ITFI are:

  • The applicant with a minimum turnover of their profession Rs 60,00,000 can apply for this loan.
  • To minimize loan rejection, the applicant should have 3 years of experience in the current
  • profession and have 5 years of experience in the overall business industry.
  • Business or profession must be making a profit for the last 2 years.
  • The applicant should be a minimum of 25 years old to apply for the same and can repay at the maximum age of 65.
  • You should have paid your annual tax returns for the last 2 years.
  • Keep your credit history ready for the bank review to expedite the loan sanctioned process.

Important Documents Required To Avail a Business Loan at ITFI?

The process of applying for business loans gets easier and simpler when you know the list of documents demanded by the loan provider. Documents required for the business loan vary as per the individuals. Here is the list of general documents required for loan approval. Filled and signed home loan application form.
  • Passport-size photographs, copy of address proof, identity and signature proof, age proof- Passport, Pan Card, Driving License, Voter ID Card, Aadhar Card, Bank Statement, Rent Agreement, Voter ID Card, Receipt of LIC Policy, employee ID in case of a government employee.
  • Copy of documents if there is an existing loan.
  • Bank statement of the last 6 months from your application date.
  • Copy of business registration or business registration proof
  • Copy of ITR/ Assessment Orders of 3 years
  • Provide evidence that your Income Tax return has been paid.
  • Balance sheet to evaluate the growth of your business from the last 2 years. The details must be verified by CA.
     

Frequently Ask Questions

Every lender has a different credit score requirement, but a minimum of 640+ credit scores are required to avoid the rejection of the loan.

Here are the 5 things that help you get a business loan from a bank/ financing institution:

  • Determine why you need the money and know-how this helps you in business growth.
  • Choose the type of business loan based on your needs.
  • Find the best lender to quench your urgent financing needs.
  • Know if you have what they ask you to qualify for the business loan.
  • Get your documents ready and apply application at the lowest interest rates.

As you know that banks/financing institutes only offer an 80-85% loan amount of your total machinery or project value. But private financing institutions can offer several business loan programs with zero down payment including micro landings.

  • Build a good credit score
  • Know how much you need
  • Gather all the documents and you are all set to apply for a business loan

Apply Now