Unsecured Business Loan is a Loan for Business purposes given solely on the basis of FInancial Statement of the borrower with no Guarantor/Collateral security involved.
The amount of Loan will solely depend on the strength of your Balance Sheet. The maximum amount varies between Rs. 30 lacs and Rs. 50 lacs, depending on the banks.
The documents are:
The TAT (Turn Around Time) for a Business Loan proposal is 2-3 weeks. The TAT depends on various factors such as current loan repayment, issue in CIBIL Report, timely submission of documents etc.
Currently, the maximum tenure for which you can take a Business Loan is 48 Months (4 Years).
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