Unsecured Business Loan
Quick, digital & collateral-free
Purpose: Your data is collected exclusively to check your loan eligibility and securely connect you with your chosen lending partner. We process this information strictly in accordance with RBI guidelines to facilitate your application. We do not sell your data, and it is used exclusively to facilitate your loan application.
10K
CustomersActive users
70+
BanksPartner banks
170
BranchesNationwide
An unsecured business loan is a type of loan that is offered by various banks and NBFCs collateral free to the borrower. These loans are often called signature loans, as these loans are granted to the applicant without any collateral with minimal documentation. Unsecured Business Loan in India can be approved online, the borrower can provide online documentation on the portal and enjoy quick disbursal of loans in their respective account quickly.
Unsecured loan for business is a smarter choice when it comes to the successful running of a business in the absence of collateral. The interest rate of unsecured business loans is a little higher than that of secured business loans. As these loans depend on the creditworthiness of a person hence, one should have a credit score of more than 700. Boost your CIBIL score and increase your chances of getting a loan. My Mudra is a one-stop solution for people who are seeking financial assistance for their business and have no security.
Unsecured Business Loan is collateral free and hence an applicant does not need any security to file an application for the loan.
The process of applying for an unsecured business loan is a cakewalk with My Mudra. Get to know about the process of applying for an unsecured business loan:
Calculate your monthly EMI for unsecured business loan to plan your business finances effectively. Enter your loan amount, preferred tenure, and interest rate to get instant EMI calculation.
Loan Details Example
For example: Loan Amount ₹5,00,000, Tenure 24 months, Interest Rate 12% gives Monthly EMI of ₹23,537 and Total Payable Amount of ₹5,64,882.
Calculate EMI before applying
Align repayments with business cash flow
Consider prepayment options to save on interest
Unsecured business loans are ideal for various business needs including:
Various banks and NBFCs offer unsecured business loans with different interest rates and terms. Here's a comparison:
| Bank/NBFCs | Interest Rate | Key Features |
|---|---|---|
My Mudra | 14.00% p.a. |
Unsecured business loans offer several advantages over traditional secured loans. Here's why businesses prefer them:
My Mudra is a one-stop solution for people who are seeking financial assistance for their business and have no security. Get quick approval and disbursal for your business needs.
Don't let lack of collateral stop your business growth. Apply for an unsecured business loan today and get the funds you need to expand, manage cash flow, or meet unexpected expenses.
See how My Mudra has helped businesses grow without collateral requirements.
Directly assisting you in all major cities with instant unsecured business loan tailored for your growth.
Join 50,000+ happy customers served across India
Purpose: Your data is collected exclusively to check your loan eligibility and securely connect you with your chosen lending partner. We process this information strictly in accordance with RBI guidelines to facilitate your application. We do not sell your data, and it is used exclusively to facilitate your loan application.
The application process for an unsecured business loan is quite easy. Apply online at My Mudra and fill basic details required for filling up the application form.
The applicant should submit KYC documents, company financial details, and registration details to apply for the unsecured business loan.
Enjoy quick disbursal of the loan amount within a day. Get your unsecured business loan approved and disbursed within hours.
Shorter tenure and flexible repayment options available for the loan to suit your business cash flow.
Apply, upload documents, and track your loan status completely online without visiting any branch.
Approval based on your business creditworthiness and financial health rather than collateral.
Choose from various banks and NBFCs offering unsecured business loans with different terms.
Apply unsecured business loan online from My Mudra.
Get documentation done online on the portal.
Get your unsecured business loan approved and disbursed within hours from My Mudra.
| Quick approval, minimal documentation |
Axis Bank | 14.95% - 19.20% p.a. | Flexible tenure, no collateral |
Bajaj Finserv | 9.75% - 30% p.a. | Fast disbursal, online process |
HDFC Bank | 10% - 22.50% p.a. | Competitive rates, multiple options |
Kotak Mahindra Bank | 16% - 26% p.a. | Quick processing, digital approval |
IDFC First Bank | 10.50% p.a. onwards | Lowest rates, flexible repayment |
Tata Capital | 12% p.a. onwards | Trusted lender, customized solutions |
NeoGrowth Finance | 19% - 24% p.a. | Specialized for SMEs, quick approval |
Lendingkart | 12% - 27% p.a. | Digital platform, minimal paperwork |
"As a small business owner, I didn't have collateral to offer. My Mudra's unsecured business loan helped me expand my store inventory. The process was completely online and funds came within 24 hours."
Amount
Unsecured Business Loan
Purpose
Inventory Expansion
Documents required for unsecured business loan for address proof inclde documents like Aadhaar Card, Passport, Voter's ID Card, Driving License.
Additional documents required for unsecured business loan
Documents Required for Unsecured Business Loan
"Our startup needed funds for hiring but we had no assets. The unsecured business loan based on our revenue and credit score was perfect. Quick approval and no collateral made it stress-free."
Amount
Unsecured Business Loan
Purpose
Team Expansion
"Facing cash flow issues due to delayed payments, I needed immediate funds. The unsecured business loan came through without requiring property mortgage. The minimal documentation was a huge relief."
Amount
Unsecured Business Loan
Purpose
Working Capital
"Wanted to renovate my restaurant but didn't want to pledge assets. My Mudra's unsecured loan was perfect. The entire process was digital and I got the funds in just 2 days."
Amount
Unsecured Business Loan
Purpose
Restaurant Renovation