Fulfill your Financial Needs
Acquire a business loan at such low interest rates and without any collateral or security.
Operating a business involves consistent funding, but obtaining a loan can be difficult. My Mudra makes it easy with quick and hassle-free business loans. Whether you are looking to tide over cash flows or grow your business, apply for a business loan online and receive instant approval. Our process is simple to apply online for a business loan anywhere, anytime, and obtain an instant business loan with the least paperwork. With My Mudra, you receive the funding your business needs to stay on track.
A business loan is a form of financing that offers money to companies to finance expenses such as working capital, equipment acquisition, business growth, or cash flow management. Lenders like banks, NBFCs, and financial institutions provide these loans with certain repayment conditions and interest rates. Companies can opt for secured loans (collateral-based) or unsecured loans (no collateral) depending on their requirements and financial position.
| Amount | Up to 1 Crore |
|---|---|
| Loan Tenure | 4 to 5 Years |
| Low-Interest Rates | Starting from 10%*p.a. |
| Eligibility Criteria | 21- 65 Years |
| Loan Disbursal | Loan Disbursal in just 3-4 Business Days. |
Acquire a business loan at such low interest rates and without any collateral or security.
Obtain a business loan in few hours.
You can repay your loan over period of 18-48 months.
My Mudra will assign a financial advisor to a customer which makes the overall process more efficient.
Keep your savings intact by not using them for repayment. Enjoy tax benefits.
Any individual can simply apply for a business loan online if you fulfill these simple business loan eligibility criteria:
| Age Requirement | Applicant must be between 25 and 65 years old to apply for a business loan online. |
|---|---|
| Eligible Entities | Self-employed individuals, private limited companies, and partnership firms who are into manufacturing can avail a quick business loan. |
| Revenue Requirement | The company needs to have a minimum revenue of ₹40 lakhs to be eligible for an instant business loan. |
| Experience Criteria | Applicants should have at least three years of experience in the current industry and a total of five years of business experience to apply for a business loan online instant approval. |
| Profitable | The firm should have been profitable over the past two years in order to get an online business loan. |
| Minimum Total Requirement (MTR) | The business's Minimum Total Revenue (MTR) should be at least ₹1.5 lakhs to qualify for a fast business loan online. |
Enroll with your mobile number to begin your business loan apply process.
Enter your business loan details online.
Share your business details to apply for a quick business loan.
Receive a verification message for your business loan online approval.
Our financial advisor will call you to assist you with the next step.
Get your instant business loan credited quickly.
Here are the fees you incur when you take a business loan from My Mudra
| Loan Processing Fees | Loan processing charges are between 0.5% to 4% of the loan for an online business loan. |
|---|---|
| Pre-Payment Charges | For Floating Rate: NIL. For Fixed Rate: Usually around 2% – 5% on the principal amount for an instant business loan online. |
| Stamp Duty Charges | Stamp duty charges are applicable as per actuals when you apply business loan online. |
| Legal Fees | Legal fees are applicable as per actuals when securing a quick business loan. |
Calculate your monthly payments with our Business Loan EMI Calculator. Simply input the loan amount, interest rate, and tenure to know how much you'll have to pay every month for your business loan. It enables you to plan ahead of time before applying for a business loan online or availing an instant business loan with fast approval from My Mudra.
On a certain date, a borrower makes an instalment payment to a lender. The EMI is fixed during the period of the loan. This is one of the most widely used business loan repayment forms to ensure regular and easy payments.
Foreclosure involves repaying the entire outstanding amount of the business loan prior to the deadline. An instant business loan has a lock-in period during which you may opt for foreclosing the outstanding amount. If you have some additional income, foreclosure helps you save interest payments.
Part-prepayment enables you to pay off a part of your business loan in the form of multiple EMIs. This decreases the interest burden and outstanding principal. If you get more funds, you can utilize them for part-prepayment to pay off your business loan amount sooner.
In a bullet repayment, the borrower makes only the interest monthly and pays off the whole business loan amount at the term's end. This is suitable for businesses anticipating large future cash inflows.
To meet your financial objectives and budget, we offer low interest rates.
We make sure you can easily and peacefully repay your loan with our flexible repayment alternatives.
Using My Mudra, you can count on a simple and rapid approval process that gives you access to funds exactly when you need them.
At every stage of the loan procedure, our focused customer support team is here to help.
If your credit score is low, will your company financing be denied?
Indeed. It will. It demonstrates your poor financial decision-making abilities. Using a large proportion of credit amounts is one of the most frequent reasons a loan is denied. About 30% of the entire credit amount is the typical percentage
How can I increase my chances of getting a business loan?
Here are some tips:
How is the Business Loan EMI calculated?
You may determine the EMI of your business loan with the use of My Mudra Business Loan EMI Calculator. This functionality significantly improves client convenience.
How is the Business Loan processing fee calculated?
The maximum processing cost is 2% + GST, and it applies to all services.
How long will my business loan take to be processed?
Loan processing and payout will take at least 7 working days once the lender receives all needed documents and information in accordance with its standards. All loan approvals are at the lender's unique decision.
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