NeoGrowth Credit SME Business Loan

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Loan Type Features Details
Business Loan for Retail Owners Interest Rate APR 24% onward
Loan Amount Rs. 1 lakh to Rs. 75 lakhs
Tenure 18 months to 36 months
Processing Fee Up to 3% of the total loan amount
Prepayment Charges 5% on outstanding principal
Business Loan for Vendors Interest Rate APR 21% onward
Loan Amount Rs. 10 lakhs to Rs. 75 lakhs
Tenure 18 months to 36 months
Processing Fee Up to 2.25% on the entire loan amount
Prepayment Charges 5% on outstanding principal

NeoGrowth Credit SME Business Loan is available to SME, MSME merchants, and business owners. The tenure is between 18 months and 36 months with easy facility of daily repayment. This NBFC has innovative POS based loans, which has helped thousands of businesses to grow exponentially. The NeoGrowth Credit SME Business Loan products stand out given flexible repayment models, underwriting methods, and the perfect solutions for entrepreneurs.

The loan products come with benefits such as

At, you can get all information on NeoGrowth Credit SME Business Loan, and even apply for the funds online.

Types of NeoGrowth Credit SME Business Loans

Here are the types of business loans by the NeoGrowth:

Features of NeoGrowth Business Loans

Below-given are the interest rates and fees charged by the Fintech platform for a business loanBelow-mentioned are some of the features of the loan:

Eligibility Criteria for Business Loan by NeoGrowth

Below-given are the eligibility criteria for business loan NeoGrowth:

NeoGrowth Business Loan EMI Calculation

Equated monthly instalment (EMI) is a repayment process, wherein you pay an amount monthly to the lender to settle the loan as per the loan agreement’s terms and conditions. The EMI amount usually contains components of both the principal and the interest amount. To calculate the business loan EMI, you need details such as the loan amount, tenure, and interest rate.

Through a simple calculation, you can understand the exactly EMI to pay throughout till the end of tenure. Use the free-of-cost EMI calculator on Loanbaba for a quick calculation of the monthly instalments towards your NeoGrowth business loan.

Documents Required for NeoGrowth Credit SME Business Loan

Below-mentioned are the documents you need to apply for NeoGrowth business loan:

Documents for Individuals

Financial Statements

Business Registration Proof

Documents of the Business

How to Apply for a Business Loan NeoGrowth?

Mentioned below is how you can apply for NeoGrowth business loan on Loanbaba:

Frequently Asked Questions about NeoGrowth Business Loan

Below-given are FAQs about NeoGrowth Credit SME business loan:

1. What is a POS machine?

A POS or point of sale machine processes debit card or credit card payments from customers. The machine may even process any eligible gift card for payments.

2. What is the minimum loan amount?

The minimum loan amount is Rs. 1 lakh and the maximum limit is Rs. 75 lakhs.

3. Is a credit check mandatory?

Along with the verification of documents, the NBFC will also perform a credit check of the company/business.

4. What are the types of loans to apply for?

With NeoGrowth, you can apply for loans for shops/merchants/retailers that use debit card or credit card swipe machine. Loans are also available for wholesalers/ manufacturers/ distributors/ retailers/ traders who sell/purchase services or goods to large corporates.

5. What is the tenure range?

The tenure varies between 6 months and 36 months.

6. Is there a facility to pre-close the loan?

You can pre-close the loan at any stage. A pre-closure fee may apply as per the loan agreement.

7. How much time does it take for NeoGrowth to process the loan application?

Depending on several factors, the loan can be processed in as soon as 3 days to 5 days. After which, the disbursal can take place in 24 hours to 48 hours.

8. How is the fund disbursed?

The loan amount can come to you either through NEFT or RTGS.

9. How to repay the NeoGrowth loan?

EMI can be automatically deducted from the POS machine or you can pay via ECS/NACH debit mandate. You may even pay through RTGS/NEFT/IMPS to the mentioned account number provided by the NBFC, or you may simply repay through the Bill Desk payment gateway on the customer portal or website of NeoGrowth.

10. How to check the loan statement?

NeoGrowth will send the loan statement to your registered email id, every week. You can even download the same from the NBFC’s customer portal.