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Is it possible to get a business loan without collateral security?

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Earlier it was difficult to get a term loan even with collateral security, but the good news is that these days companies like Capitalfloat.com is providing collateral free loans. They do have some conditions. They need you to be eligible to apply for small business loans India. I am writing the eligibility conditions down, please see if you are eligible. The conditions are:

  • You need to have an operational history of minimum 3 years.
  • Annual business turnover needs to be more than 1 Cr or it should be audited financials.
  • And an above 650 CIBIL Score.
You will also need some documents like:
  • Last 12 months' VAT returns
  • ITR- last 2 years
  • KYC documents
  • Bank statements for 6 months
  • Loans or overdraft sanction letters
With the above conditions and documents, you can easily avail collateral free loan.

Posted on May 29, 2017

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veronica_mer
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SOURCE: Do I Need To Have Any Kind Of Collateral Before Applying For Business Loan?

In case you are interested in applying for a business loan, you must be prepared to make a personal investment. The lender ask you to provide security (which include automobiles, business equipment, property and so forth.) to back the loan. This explains that you are dedicated to making your business work.

Posted on Feb 12, 2016

veronica_mer
  • 334 Answers

SOURCE: What Type of Collateral Does An Online Lender Require for Secured Business Loans?

Well the first thing is that the collateral is used only in the secured business loan program. Unlike the conventional lending, the online lending is much easier. The collateral requirement varies by lender to lender, therefore, as a general rule the requirement of collateral mostly depend on the type of business financing.

Posted on Mar 31, 2016

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SOURCE: Can I Still Qualify For Business Loan If I Don't Have Any Collateral?

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Posted on Aug 01, 2016

veronica_mer
  • 334 Answers

SOURCE: Does The Business Owner Need To Pledge Personal Collateral For Business Loan?

The business owner doesn't need to pledge personal collateral; however the business will be expected to pledge its assets and resources as collateral for a business loan.

Posted on Aug 15, 2016

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1 Answer

I want to take a SME loan. Will I need to attach collateral for it?


Well, attaching collateral for SME loans is not necessary. One can easily apply for small business loans and the bank will not deny your loan application in the absence of any collateral. As we all know that there are two types of loan i.e. secured and unsecured. It may be possible that for the security purpose, your bank will ask for collateral and at that time, you have to attach the same. All and all, there is no hard and fast rule of attaching collateral for applying small business loans and to some extent, it depends on the bank that whether they would ask for this or not. Maybe the bank will not demand collateral but still one has to attach some of the important documents such as project report, credit information report etc so as to apply for the loan.

Oct 23, 2017 | Computers & Internet

4 Answers

I want to apply for a SME business loan. Will I need to attach a collateral?


Yes, if you are looking forward to SME business loan you may need to attach a collateral. But some NBFC like Capitalfloat.com is one such company which offer mortgage free loans. They also claim to provide fast credit to the loan seeker.

These days it is very much crucial to obtain the loan money quickly. The relationship is very simple, faster you get your credit, more quickly you will be able to invest it in your business. A loan without a collateral will be an added advantage. To avail a collateral free loan, you should be eligible for it. The eligibility criteria includes-
  • Private limited companies with SME/SSI registration
  • Loans are available for product development expenses, procurement of computers, etc.
  • Share allotment proof.
  • Share purchase agreement.

May 30, 2017 | Computers & Internet

7 Answers

What Are The Interest Rates And Terms For An Unsecured Term Loan?


The interest rates are higher for unsecured loans as compared to other loans because the lender does not ask for any kind of collateral. The interest rates would range from 17-22%. Unsecured loan is usually taken in the form of a term loan and the term ranges from 1-3 years.

Nov 01, 2016 | The Computers & Internet

4 Answers

How Do I Get An Unsecured Business Loan?


As with any business loan, you'll need a very good credit history to convince your lender that you're worth the risk. Since you aren't required to place any collateral, your lenders will be examining your credit even more carefully with an unsecured business loan. If you have a bad credit history, you may not qualify for an unsecured loan and should consider bad credit business loan.

Jul 01, 2016 | Computers & Internet

1 Answer

What's The Difference Between Personal Guarantee And Business Collateral?


Business collateral, like personal collateral, is used in a secured business loan where you pledge a business asset to serve as protection for the lender when the loan defaults. If it does default, the lender can take the ownership of the business asset. With a personal guarantee, you are confirming that you may pay the debt from your personal asset if your business is unable. If the loan defaults, the lender can capture your business and personal belongings.

Jun 01, 2016 | Retail Supplies

3 Answers

Can I Still Qualify For Business Loan If I Don't Have Any Collateral?


There are some credit based loans under $50,000 that don't need collateral. If you are looking for a larger loan and are a start up business, you usually will need collateral. Weak collateral can be mitigated by a co-signer willing to guarantee the business loan. Established businesses with positive cash flow can be eligible for a business loan without collateral or co-signer.

May 23, 2016 | Computers & Internet

1 Answer

What Type of Collateral Does An Online Lender Require for Secured Business Loans?


Well the first thing is that the collateral is used only in the secured business loan program. Unlike the conventional lending, the online lending is much easier. The collateral requirement varies by lender to lender, therefore, as a general rule the requirement of collateral mostly depend on the type of business financing.

Mar 31, 2016 | The Computers & Internet

2 Answers

Do I Have To Set Up Collateral To Acquire An SBA Loan? What's Qualified?


There are a number of SBA loans with different criteria along with what SBA requires. There are numerous sites to offer a wealth of information.
Here are just a few of the many to start you off
SBA Loans The Small Business Administration SBA gov
Same site but another section with different info.
SBA Loan Programs The Small Business Administration SBA gov

SBA Loans for Your Startup

5 Tips for Using Collateral to Secure Small Business Loan

Nov 27, 2015 | Miscellaneous

1 Answer

What is collateral information


"Collateral" simply put are assets that are pledged by a borrower to serve as security to a lender in the event of default. Example: Oftentimes a vehicle loan will be secured with the vehicle being financed as "collateral", meaning the lender has a right to foreclose on the collateral in the event the loan is not paid in full, according to the terms of the loan (interest rate, and time required to retire the debt)

Mar 11, 2014 | Finance

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