Products & Services
Unsecured Business Loans (BIL)
An unsecured business loan is provided to proprietorship, Partnership, or Private Limited company, Limited company or self employed professionals without any collateral security. The funds can be used for:
• Business expansion
• Buying Capex or fixed assets
• Meeting working capital finance requirements
When can one opt for unsecured business loan?
• When you are unable to or not willing to provide a collateral security
• Short term funds are required
• Faster turnaround time
Loan amount per Bank / NBFC
Rs.10 lakhs - Rs 75 Lakhs
Businesses Eligible for BIL
• Sole Proprietorships, Partnership Firms, Limited Liability Partnership, Private Limited Companies & closely held Ltd. Companies
• Manufacturers & traders
• Service Providers such as Chartered Accountants (CAs), Self Employed professionals such as doctors, CA, MBA, engineers & architects and people with professional degrees
Business Loan Eligibility Calculator
• Minimum business existence of 3 years with ITR and proof of business.
• Minimum turnover of Rs 1 Crore.
• Cash Profit for the last 2 financial years.
• Clear CIBIL report and existing / past repayment track record.
Loan against Property (LAP)
• Loan Against Property is a type of loan that uses your commercial or residential property as collateral
• Loans against Property are customarily used as a quick means of financing by an SME to expand its business
• The loan amount is derived as a percentage of the market value of the property being offered as collateral. For LAP, this LTV ranges from 50% - 100%, depending on the bank & nature of the collateral.
• Repayment of LAP is in the form of a term loan (repaid through EMIs) or through an overdraft line of credit.
• Maximum loan amount can be up to Rs. 25 crore, depending on the bank, location and value of the property being mortgaged.
• Lower interest rates as compared to Unsecured Business Loans (BIL).
• Longer tenor of loan up to 15 years, making the repayment process easier for businesses.
• The interest rates for loan against property commonly range from 10.25 - 13%.
Loan against Property Eligibility Criteria
• Indian Residents
• Salaried, Self-Employed individuals
• Age 25 – 65 years
• Type of property accepted
• Self-occupied commercial property
• Rented commercial property
• Vacant commercial property
• Self-occupied residential property
• Rented residential property
• Vacant residential property
Working Capital Loan
A Working Capital loan is finance provided to SME’s (Small and Medium Enterprises) & midsized corporate for their Working Capital cycle as well as meet the daily cost of operations.
Cash Credit / Overdrafts
Working Capital Demand Loans
Export / Import Finance In local &Foreign Currency
• Are for a tenor of 1 year renewable and requires collateral.
• Collateral accepted for working capital loans include:
• Additionally, banks may ask for Commercial/Residential property as incremental security
Working Capital Loan Interest Rates and Tenor
• The interest rate for a working capital loan often ranges between 11%-13
• A working capital loan is usually reviewed annually by banks.
Working Capital Loan Eligibility Criteria
• Businesses that has been operating for minimum 3 years and with a sales turnover of at least 3 Crores.
• The following entities are eligible for a working capital loan:
• Sole Proprietorship
• Private Limited Companies
• Public Limited Companies
All right reserved by Siia Advisory Consultants LLP
Designed by Mirackle Solutions