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.
At Loanbaba.com, you can get all information on NeoGrowth Credit SME Business Loan, and even apply for the funds online.
Here are the types of business loans by the NeoGrowth:
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:
As a loan applicant, you may always wish the documentation process to be as less stringent as possible. The NBFC in question does this job for you with a facility of – No Income Tax Return Proof Required for Loans Up to Rs. 15 Lakhs. Thus, the borrowing journey is smooth, and it gives you enough freedom to access the funds without having to worry about ITR proof submission.
What if you could get a business loan by swiping either your debit card or credit card? It will be such a simple and quick way to access financial assistance, isn’t it? NeoGrowth gives retails this opportunity wherein you can swipe any of the mentioned cards to get funds in a matter of only 3 days.
The financing for vendors is based on receipts received from large corporate. Here, the loan amount is up to Rs. 75 lakhs if in the last 6 months the total sum of the receipts is above Rs. 5 lakhs per month.
What is you could easily repay the loan POS/swipe machine on a daily basis? Or if daily is not possible, then what if you could make repayment weekly or fortnightly, as per your convenience? Does not it sound too good to be true? However, NeoGrowth enables you this service of a quick and easy repayment via the POS/swipe machine.
Below-given are the eligibility criteria for business loan NeoGrowth:
You can avail the funds if:
To avail this business loan by NeoGrowth, the POS (EDC) machine must have been in use for a minimum of 6 months. If the POS machine has been operational for a sufficient duration, then it makes the funding procedure hassle-free.
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.
Below-mentioned are the documents you need to apply for NeoGrowth business loan:
Documents for Individuals
Business Registration Proof
Documents of the Business
Mentioned below is how you can apply for NeoGrowth business loan on Loanbaba:
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Below-given are FAQs about NeoGrowth Credit SME business loan:
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.
The minimum loan amount is Rs. 1 lakh and the maximum limit is Rs. 75 lakhs.
Along with the verification of documents, the NBFC will also perform a credit check of the company/business.
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.
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