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Deal4Ask is a platform that helps individuals and businesses in India access business loans from a variety of financial institutions. By using Deal4Ask, you can save time and effort when applying for a business loan, as the platform allows you to compare rates and terms from multiple lenders in one place. This can help you find the best deal for your business loan, which can save you money in the long run.
Another benefit of using Deal4Ask is that the platform offers a streamlined application process. You can apply for a business loan online in a few simple steps, and Deal4Ask will help you gather all the necessary documents and information. This can make the process of applying for a business loan much easier and less time-consuming, as you won't have to visit multiple financial institutions in person.!
Additionally, Deal4Ask offers a range of loan options to suit different business needs, such as working capital loans, term loans, and line of credit loans. With the help of Deal4Ask, you can find the right loan option that best fits your specific business needs, which can help you achieve your financial goals and grow your business. Furthermore, Deal4Ask will also help you understand the various loan products and to compare them to make an informed decision.
| Interest Rate | 8.85% p.a. onwards |
|---|---|
| Loan Amount | Up to Rs.40 crore |
| Loan Tenure | Up to 120 months |
| Processing Fee | Up to 6.5% of the borrowed loan amount |
| Lender | Interest Rate | Loan Amount | Loan Tenure |
|---|---|---|---|
| HDFC Bank | 11.90% p.a. to 21.35% p.a. (Rack interest rate) | Rs.50,000 to Rs.50 lakh | 12 months to 48 months |
| IIFL | 11.75% p.a. to 32% p.a. | Rs.1 lakh to Rs.50 lakh | 12 months to 60 months |
| Fullerton India | 17% p.a. to 21% p.a. (floating) | Up to Rs.50 lakh | 12 months to 48 months |
| DHFL | 17% p.a. onwards | Up to Rs.10 lakh (without collateral) | Up to 5 years |
| Magma Fincorp | 15% p.a. to 26% p.a. | RUp to Rs.30 lakh | Up to 36 months |
| Kotak Mahindra Bank | As per the lender’s terms and conditions | Rs.75 lakh | Up to 48 months |
| Karnataka Bank | 9.41% p.a. onwards | Rs.1,500 lakh (will vary based on the type of scheme) | Up to 120 months (will vary based on the type of scheme) |
| Tata Capital | 19% p.a. onwards | Rs.5 lakh to Rs.75 lakh | 12 months to 36 months |
| SBI (Simplified Small Business Loan) | As per the lender’s terms and conditions | Rs.10 lakh to Rs.25 lakh | Up to 60 months |
| Mahindra Finance (Unsecured Business Loans for SME) | As per the lender’s terms and conditions | Up to Rs.40 crore | Up to 84 months (will vary based on the type of scheme) |
| Federal Bank (Asset Power Scheme – Business Loans for Professionals) | 8.85% p.a. | Up to Rs.7.5 crore | Up to 120 months |
| Standard Chartered Bank (Business Installment Loan) | 17.25% p.a. onwards | Rs.10 lakh to Rs.75 lakh | Up to 60 months |
Business Vintage: Most lenders require a minimum business vintage, which is the number of years the business has been in operation. It usually ranges from 2 to 3 years.
Credit Score: Lenders evaluate the creditworthiness of the business and its owners by checking their credit scores. A good credit score demonstrates a track record of responsible borrowing and increases the chances of loan approval. Generally, a credit score of 700 or above is considered favorable.
Annual Turnover: Lenders assess the annual turnover of the business to determine its financial stability and repayment capacity. Different lenders may have different minimum turnover requirements.
Profitability: Lenders typically evaluate the profitability of the business by analyzing its financial statements, such as profit and loss statements, balance sheets, and cash flow statements. A profitable business is more likely to be considered for a loan.
Debt-to-Income Ratio: Lenders assess the debt-to-income ratio of the business to evaluate its ability to repay the loan. This ratio compares the business's total debt to its income. A lower debt-to-income ratio indicates better repayment capacity.
Business Plan: Lenders may require a comprehensive business plan that outlines the purpose of the loan, projected financials, market analysis, and repayment plans. A well-prepared business plan enhances the chances of loan approval.
Collateral: Depending on the loan amount and type, lenders may require collateral as security. Collateral can be in the form of property, equipment, or other assets that hold value.
Legal and Regulatory Compliance: Lenders may consider whether the business complies with all legal and regulatory requirements. This includes licenses, permits, and tax filings.
Industry and Nature of Business: The industry in which the business operates and its nature can impact loan eligibility. Some lenders may have restrictions or preferences for certain industries.
| Document Type | Description |
|---|---|
| Identity Proof |
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| Address Proof |
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| Proof of Income |
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| Proof of Business Ownership |
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| Collateral |
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Step 1 - Fill Out the Online FormFill out the online form with your details and submit it to us.
Step 2 - Receive a Call from Team Deal4AskOne of our team members will contact you within 24-48 hours of form submission.
Step 3 - Get Process TrainingWe will provide you with process training to help you get started as an affiliate.
Step 4 - Get affiliated with Deal4AskOnce you complete the training, you will become an affiliate of Deal4Ask and start earning.
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