Unsecured Business Loan
For any business, large or small, the need for operating capital is an important one for sustainable development. However, some enterprises, in their daily operations, frequently fail to devise strategies for financing through proper planning and find themselves in an unwanted financial crisis.
To start a business, refurbish an existing business or for further expansion and development, a business loan can be the best bet for business owners. A business loan can be used to fulfil working capital requirements, to purchase equipment or machinery, to expand business cash flow and much more.
But while you are already in a financial crunch, pledging a collateral can put you in even more distress. You would not want to put your asset at stake for a short-term loan you want for your business. This is where unsecured business loans from Clix Capital can come to your aid. You can get a business loan of ₹ 5-50 lakhs without pledging any collateral.
Here’s What Clix Has To Offer
Large Loan Amounts
We have SME business loans ranging from Rs 5–50 lakhs to meet every business need.
Collateral-Free Loan
We understand your ambitions and this is why we cater to your financing needs by providing you with quick and unsecured business loans.
Flexible Repayment
We understand that your business goals can’t be timed and hence we’re flexible — choose a repayment period from 12 to 36 months (48 months if you’re a self-employed professional).
Minimal Documentation
You deal with enough paperwork every day, so we keep ours to a minimum and help you get a SME loan with ease.
Why Choose Clix Capital for Unsecured Business Loans?
In a sector that is constantly in need of speedy business financing, Clix Capital is focused on helping businesses of all sizes get the finances they need in the form of an unsecured business loan at the right time. Features such as no collateral, minimal paperwork, quick approvals make us popular and stand out from others.
We understand that every enterprise is different, and a single preferred financing solution does not cater to every business need. Bearing this in mind, our business loans will assist you in financing the growth of your business in one go. Our unsecured business loan is an SME financing tool that especially caters to the unexpected needs of your growing organization.
Unsecured business loans bear an impressive advantage over secured loans as the borrower does not have to pledge any of his/her property or asset in order to procure funds to keep your business going.
Unsecured Business Loans: Features And Benefits
Unsecured loans are offered without providing any collateral to the bank or NBFC. These unsecured business loans are given on the basis of an applicant’s financial documents, credit score, income, etc. Since there is no collateral required, the risk factor remains high for the bank or NBFC.
Financing up to 50 lakhs
You can avail a business loan ranging from INR 5–50 lakhs, for all of your short and long-term business goals and objectives. Whether it’s for strengthening the working capital or meeting immediate business expenses, our small and long-term business loans are a perfect proposition.
Flexible Tenors
Business Loans at Clix Capital come with flexible tenors ranging from 12 to 36 months. This allows you the flexibility to pay according to your cash flow.
Pre Approved Loan Offers
Availing these loans make you eligible for exclusive pre-approved offers like top-up loans, reduction of unsecured business loan interest rates, etc.
Unsecured Business Loan Eligibility Criteria
The following criteria make you eligible to apply for an Unsecured Business loan from Clix Capital:
- You should be between 21 – 65 years old.
- Your business should be in operation for at least 3 years.
- You should be filing income tax returns for your business for the past 1 year.
- You should have the financial statements of your business for the last 24 months and previous year’s turnover, duly audited by a CA.
- Other relevant financial documents might be required at the time of document verification.
If you answer all these questions with a ‘Yes’, then you are eligible!
What Documents Do I Need to Provide to Secure An Unsecured Business Loan?
- Completed application form
- Passport-size photograph
- Identity Proof (ID)
- Address Proof
- Financial Documents
- Proof of Ownership
Avail Financial Freedom with Unsecured Business Loans from Clix Capital
Our business loan calculator is the perfect tool to preempt your probable EMI based on loan amount and the repayment terms. You can adjust the loan repayment period and the amount accordingly to reach your ideal EMI amount.
So, how about scaling your business to the new heights altogether with Business Loans from Clix Capital?
If the answer to the above question is ‘Yes’, then look no further. Clix Capital, a leading NBFC and one of the leading and trusted unsecured business loan lenders in to avail unsecured business loans from, with no collateral, minimal paperwork and quick approvals.
We’re just a call away…
Just call us on our toll-free number at +91-120-6465400 between 9:30 am – 6:30 pm from Monday to Saturday. Alternatively, you can also write to us at hello@clix.capital to resolve your queries about the business loans without collateral /unsecured business loans for start-ups.
Types of Business Loans Offered
We offer two types of unsecured business loans:
Business Term Loans:
These are suitable for big-ticket expenses like business expansion, tools or machinery purchases, etc.
Working Capital Loans:
These are suitable to address the daily expenditures of your business to ensure smooth operation.
What Documents Do I Need To Provide
We’re almost paperless (yes, really) but will need a few document to process your application:
Completed Application Form
- We will provide you with a run-of-the-mill application form to detail out all the information we need before processing your business loan request.
Passport-Size Photograph
- This photograph should be fairly recent and indicative of your current physical appearance.
Identity (ID) Proof
- This can be either your Aadhaar Card, PAN Card, or Government ID (if you happen to be a government employee).
Address Proof
- Your Aadhaar Card is the go-to document here. In case your current address is not updated in Aadhaar card, one certified copy of any Official Valid Document (OVD) is required. These OVDs are either your Passport, Voter ID, or Driving License. Your Utility Bills from the last 2 months may also apply here.
Financial Documents
- PAN Card – For Firm/Company/Individual(s) coming applying for the loan
- GSTIN
- 6-month bank statement
- Copy of the most recent Income Tax Return form along with computation of income, audited balance sheet and profit & loss account for the previous 2 years
- Proof of continuity of business of 3 years (ITR/trade license/establishment/sales tax certificate)
Proof Of Ownership
- In The Name Of The Applicant Or The Applicant’s Spouse/Parent
*Please note that while only scans or photocopies of your documents are required while applying for a loan, you might want to carry original documents in case of verification. Approving the loan application is at the sole discretion of Clix; we might ask for further documents for a more thorough assessment of your loan.
How Do I Apply For A Business Loan
Fill out
the application form.
It takes only 3
minutes!
Sit back and
relax! You are on
your way to secure a
business loan.
FAQs
What is an unsecured Business Loan?
An unsecured Business Loan is a type of loan that does not require any collateral or security deposit from the borrower. Similar to unsecured Personal Loans, here lenders evaluate the creditworthiness of the borrower based on their credit score and financial history. Unsecured Business Loans typically have competitive interest rates compared to secured loans. These loans are offered to small and medium-sized enterprises (SMEs) who usually struggle with collateral. So to manage cash flow or expand their business SMEs can apply for an unsecured loan and get the money they need.
How do I avail a Business Loan from Clix Capital?
The Application procedure for availing Business Loans at Clix Capital is easy and convenient. Simply visit our Business Loan page and fill out the application form. Our experts will contact you and help you take the process forward.
Is there any restriction on the end use of my loan?
We are all about catering to your business needs! You can use the Business Loan to expand your capital, purchase equipment or machinery or simply finance your working capital needs and for many other reasons.
What will be the tenure for my Business Loan?
You can choose customised repayment (EMI) options from 12 to 48 months at Clix Capital. Use a Business Loan EMI calculator to estimate your EMIs for different loan terms.
What factors determine my Business Loan interest rate?
Unsecured Business Loan interest rates depend on various factors of your application, including metrics like business health and income. We will tell you the final applicable interest rate once we review your application form and all supporting documents.
Do I need to make a down payment to avail of a Business Loan?
No. We offer unsecured Business Loans that do not require collateral, guarantor, security, or down payment. Evaluate your loan requirement and get approval based on your business vintage, turnover, credit rating, and other factors.
How does repayment term affect Business Loan EMIs?
The loan tenure you select can significantly affect the loan EMIs. A longer-term reduces the EMI amount, while a shorter tenure makes it heftier.
Do I need any collateral to avail of an unsecured Business Loan?
Not at all! No additional collateral or guarantors are required to approve your SME loan application.
How can I reach out to Clix for any other information on my Business Loan?
Clix Capital has a robust customer service centre that you can reach by calling the toll-free number +91 120-6465400. Customers may call on any working day from Monday to Saturday between 9:30 am-6:30 pm. You may also contact us by email at hello@clix.capital for any queries or doubts regarding Business Loans.
Are unsecured Business Loans from Clix Capital available for start-ups as well?
Unfortunately, no. We require a business vintage of at least three years at the time of loan application. Start-ups are not eligible for our unsecured Business Loans.
Who can apply for an unsecured Business Loan from Clix Capital?
Only business owners can apply for our unsecured Business Loans. The company should be in your name, spouse, or parents. You have to submit your proof of ownership. We provide loans to a proprietorship, private limited company, closely held non-listed company, or a partnership firm involved in manufacturing, trading, or services.
How much credit score should I have to apply for an unsecured Business Loan?
Your business must have a CMR score of up to 7, and your CIBIL score needs to be 700 or above to avail unsecured Business Loans. Those with less than the required scores have fewer chances of getting their loan application approved.
What is the schedule of charges at Clix Capital?
These are the applicable schedule of charges:
- Borrowers prepaying the Business Loan must pay a prepayment fee of up to 6% of the loan amount for prepayment before 12 months, 5% between 12 to 24 months, and 4% after 24 months.
- Loan application and processing fees of up to 3% of the loan amount are applicable.
- Other customer service charges, including bounce charges, repayment instrument change or swap charges, duplicate Income Tax certificate issuance, NOC, Statements of accounts, Document Retrieval statements, and Foreclosure statements. These range from Rs. 500-1000.
What loan tenure options are available for an unsecured Business Loan?
Unsecured Business Loans at Clix Capital have Loan tenure options ranging from 12 to 48 months.
What are the unsecured Business Loan interest rates?
Unsecured Business Loan interest rates depend on several factors, including the applicant’s business vintage, annual turnover, business nature, financial obligations, repayment capacity, and credit rating.
How to calculate unsecured Business Loan EMI?
Business Loan EMIs largely depend on the loan term, interest rate, and loan amount you choose. Use a Business Loan EMI calculator to estimate EMIs for different loan tenures before loan application and select the term with an easily affordable EMI amount.
How much money can I borrow in an Unsecured Business Loan?
The Business Loan amount depends on several factors, including the applicant’s business age, repayment history, credit rating, financial obligations, and annual turnover. The lower the risk, the bigger the loan sanction. Depending on the above factors, you can get a Business Loan from 5 to 50 Lakh at Clix Capital.
What is the minimum and maximum repayment period of an unsecured Business Loan?
Clix Capital’s repayment period ranges from 12 to 48 months for small and medium-sized business owners.
Am I eligible for a Small Business Loan?
Clix Capital considers several crucial factors to determine an applicant’s Small Business Loan eligibility. These include the applicant’s age, business nature, annual turnover, business vintage, and financial documents. You can provide the necessary documents to proceed with the application when eligible.
What is the current interest rate of a Small Business Loan?
We offer competitive interest rates on unsecured Business Loans. Depending on the applicant’s credit rating, business nature, age, and financial performance, interest rates may vary according to eligibility and credibility.
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