Welcome to MUNAFAWALA, Best Loan Provider Company.

About Unsecured Business Loan

Unsecured Business Loans have an attractive advantage over secured loans, in that you do not have to provide collateral for them. Thus, your business assets would be safe with unsecured loans in India for business, even if you are unable to repay it. Additionally, Unsecured Loans for Business are easy and fast sources of raising business finance to meet any working capital or other business requirements.

If you want a business loan without offering security, an unsecured business loan in Jaipur might be just what you’re looking for.
Unsecured loans are a great funding option for businesses that don’t own many assets, businesses that would prefer not to offer security, or any company that’s growing fast and needs finance quickly.

Whether you plan on equipping your workforce with the latest technology or a new store launch is in the wind, cover your expenses with Munafawala’s easy unsecured business loans interest rate. 2020 has left many businesses volatile, and our multi-product business finance offerings are tailored to assist with your specific requirements. Smartly manage your company’s cash flow with our structured business loan EMI options and extended loan tenures.

An unsecured business loan is a loan that doesn’t require security. A secured loan uses assets as security — which means if things don’t work out, the lender can sell the assets to recoup the cost of the loan.

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Unsecured Business Loan Interest Rates And Charges

Munafawala is very open about our unsecured loans for business rates. The following are the charges you may be required to pay.

Types of Fees Applicable Charges
Rate of interest 12% Onwards
Processing fees Up to 2%
Loan statement charges NIL
Interest & principle statement charges NIL
Loan statement charges NIL
EMI bounce charges Rs.2,500 for every bounce
Penal interest 2.00% p.m
Secure fee NA

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Types of Unsecured Business Loan

Term Loan: Any loan whether it is secured or unsecured that is availed for a specific time duration and needs to be repaid in form of EMIs within defined time frame.

Working Capital Loan: Working capital loan can be availed to meet the day-to-day expenses of business and is approved based on the creditworthiness and repayment capacity of the applicant.

Overdraft: Overdraft is a type of loan or credit limit assigned by the lender which can be availed in parts defined by the financial institution. The interest rate is charged only on the used or availed amount from the assigned or sanctioned credit limit.

Loans under Government schemes: There are several Government initiated loan schemes under which small business owners can avail business loans at comparatively lower rate of interest. These schemes include Mudra loan, Stand-up India, Start-up Scheme, Prime Minister Employment Generation Program (PMEGP), Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), SIDBI’s Loans in 59 minutes, etc.

Merchant Cash Advance: It is a type of cash advance that is based upon the credit card sales deposited in a merchant’s account. Loan amount is decided upon the credit card swipes or monthly volume of the business.

Micro Loans: Micro loans are generally offered by Micro Finance Institutions (MFIs) to meet the instance cash requirement of the borrower. The loan amount offered under Micro lending ranges between Rs. 5,000 – Rs. 2 lakh or more depending upon business requirements.

Features & Benefits of Unsecured Business Loan

By getting an unsecured Business Loan from Munafawala, you can take advantage of the following features and benefits:

Business Loans up to Rs. 30 Lakh

Whether your business has needs for short-term loans, intermediate-term loans or long-term loans, Munafawala provides instant Business Loans up to Rs. 30 lakh. You can use the loan amount to invest in infrastructure, expand operations, buy equipment or inventory, or even to increase working capital.

Attractive Interest Rates

Take advantage of the best low interest Business Loan from Munafawala. Our Business Loan interest rates are customised based on the funding required and your repaying capacity.

Flexible Repayment Tenure

Our Business Loan repayment tenure ranging from 12 to 48 months, can provide you with the flexibility to pay the EMIs of your Business Loan without any financial burden.

Hassle – Free Documentation Process

Experience a minimal and quick documentation with our quick and easy Business Loan application process. When you apply for our Business Loan you only need to submit the relevant documents to get started.

Unsecured Business Loan - Eligibility

Age

  • Applicant should be an Indian citizen with no criminal record
  • Age Criteria: Minimum age of 18 years at time of loan application and maximum 65 years at time of loan maturity

Income

  • Applicant should have a regular source of income with salary slips or bank statement with ITR
  • Total business experience: Applicant should have at least 2 years of substantial business expertise in the same field for which loan is applied

Credit Rating

  • CIBIL Score: 750 or above
  • Business existence: Minimum 1 year with signs of profit; operating from the same location for last 1 year

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

To avail any types of business loan you may visit the nearest branch of the desired bank or shall go to the official website of the respective bank and fill and submit the loan application form online.

The interest rate offered starts from 12% onwards.

Yes, you shall take an unsecured business loan preferred from NBFC, as the interest rate offered by banks shall be higher as the applicant might not have financial history or good credit score.

Unsecured business loans are given on the basis of the applicant’s income. Minimum loan amount that can be availed is Rs. 50,000 and maximum can go up to Rs. 50 lakh

The repayment period of unsecured business loan is 12 month to 5 years.

The interest rates on an unsecured business loan are relatively higher, as compared to secured loan because there is no collateral submitted to compensate the loan in case of non-payment.

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