AXIS Bank Business Loan Offers

By BANKBRIZ™

AXIS Bank's business loan offer at 16.50% interest rate provides competitive financing solutions with flexible repayment terms tailored to meet diverse business needs, empowering entrepreneurs to fuel growth and expansion efficiently.

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Starting Rate:	16.5%
Processing Fees:	2%
Loan Amount Upto:	50 Lakhs
Tenure Upto:	12 - 36 Months
Processing Time:	3 - 7 Days
Age Limit:	23  - 58 Years
Minimum Income:	50L Tranover
Minimum CIBIL:	730 Score
Location:	Pan India
Documents Required:	KYC - PAN, Masking Aadhaar & a Photograph, 3 Years Trade Licence, 1 Year GST, OHP, 2 Years ITR & 1 Year Bank Statement, MSME
Additional Information:	New Fresh, Top-up, Balance Transfer (Depending on Case)

• AXIS Business Loan- Physical Process
• Get Loan Amount Upto 50 Lakhs
• Eligibility Depends on Bank Transaction
• Max 2 BL Balance Transfer
• Manual Disbursement

Part Payment Fees:  No Part Payment Option Available.

Pre-Payment Fees:  Pre-payments can be made only after 12 months. Pre-closure fees- 12-24 Months- 4%+GST of principal outstanding, 25 to 36 Months- 3%+GST, >36 Months- 2%+GST of principal outstanding, Same as Balance Transfer.

*Terms & Conditions Apply*

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Who Can Apply for AXIS Bank Business Loan?

Various entities can apply for unsecured business loans, including:

1. Sole Proprietorships: Businesses owned and operated by a single individual without the need for a separate legal entity.

2. Partnerships: Businesses formed by two or more individuals who agree to share profits and losses. This includes general partnerships and limited liability partnerships (LLPs).

3. Private Limited Companies: Companies registered under the Companies Act, where ownership is divided into shares and limited by the number of shareholders.

4. Public Limited Companies: Similar to private limited companies, but their shares are listed on stock exchanges and can be bought and sold by the public.

5. Limited Liability Partnerships (LLPs): Hybrid entities that combine features of partnerships and corporations, providing limited liability protection to partners.

6. Small and Medium-sized Enterprises (SMEs): Businesses operating in various sectors with a defined turnover and employee count falling within SME criteria.

7. Startups: Newly established businesses with innovative ideas and high growth potential, often characterized by their disruptive nature.

8. Retailers and Traders: Businesses involved in buying and selling goods, including wholesalers, retailers, distributors, and traders.

Eligibility criteria may vary based on factors such as the lender's policies, the specific loan product, the financial health of the business, and the purpose of the loan. It's advisable to check with the lender or financial institution offering the unsecured business loan for detailed eligibility requirements and application procedures.

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What is The Purpose of Taking a Business Loan?

Business loans serve various purposes for entrepreneurs and business owners, helping them achieve their financial goals and support their business operations. Here are some common purposes for taking a business loan:

1. Business Expansion: Entrepreneurs often take out business loans to expand their operations, whether it's opening new locations, launching new products or services, or diversifying into new markets. The funds from a business loan can be used to invest in infrastructure, equipment, inventory, and hiring additional staff to support growth initiatives.

2. Working Capital: Business loans can provide working capital to cover day-to-day operational expenses such as payroll, rent, utilities, and inventory purchases. Maintaining sufficient working capital is essential for businesses to manage cash flow effectively and meet short-term financial obligations.

3. Equipment Purchase: Businesses may need to invest in machinery, vehicles, technology, or other equipment to improve efficiency, productivity, and competitiveness. A business loan can help finance the purchase or lease of equipment, spreading out the cost over time while preserving cash flow.

4. Inventory Financing: Retailers, wholesalers, and manufacturers often require funds to purchase inventory or raw materials to meet customer demand. Business loans can provide financing for inventory purchases, ensuring adequate stock levels to support sales and growth.

5. Marketing and Advertising: Businesses need to invest in marketing and advertising efforts to attract customers, build brand awareness, and generate sales. A business loan can fund marketing campaigns, website development, social media advertising, and other promotional activities to drive business growth.

6. Debt Consolidation: Business owners may consolidate existing debts, such as high-interest loans or credit card balances, into a single business loan with more favorable terms, such as lower interest rates or longer repayment periods. Debt consolidation can help businesses simplify their finances and reduce overall interest costs.

7. Start-Up Funding: Entrepreneurs launching new ventures or start-up businesses often rely on business loans to finance initial capital investments, cover start-up costs, and support early-stage operations until the business becomes profitable.

8. Emergency Expenses: Unexpected expenses such as equipment breakdowns, natural disasters, or economic downturns can disrupt business operations and strain cash flow. Business loans can provide a financial safety net to cover emergency expenses and keep the business running smoothly during challenging times.

Overall, the purpose of taking a business loan is to provide financial support and flexibility to businesses, enabling them to pursue growth opportunities, manage cash flow effectively, and overcome financial challenges to achieve long-term success. It's essential for business owners to carefully evaluate their funding needs, consider the costs and risks associated with borrowing, and choose the most suitable financing option for their business goals.

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Features of AXIS Bank Business Loan:

Axis Bank offers unsecured business loans with features designed to meet the financial needs of businesses across various sectors. While specific features may vary based on the type of unsecured business loan and the needs of the borrowers, here are some common features you might find with Axis Bank unsecured business loans:

1. No Collateral Required: Axis Bank's unsecured business loans do not require any collateral or security to be provided by the business. This makes them accessible to businesses that may not have assets to pledge as collateral.

2. Flexible Loan Amount: Axis Bank typically offers unsecured business loans with a flexible loan amount, allowing businesses to borrow according to their specific financial requirements. The loan amount can vary based on factors such as business turnover, financial health, repayment capacity, and the purpose of the loan.

3. Competitive Interest Rates: Axis Bank aims to provide competitive interest rates on its unsecured business loans. The interest rates may vary depending on factors such as the loan amount, tenure, creditworthiness of the business, and prevailing market conditions.

4. Quick Approval and Disbursement: Axis Bank strives to provide quick approval and disbursal of unsecured business loans, enabling businesses to access funds promptly to meet their financing needs. The approval process is often streamlined, and funds can be disbursed within a short period after approval.

5. Flexible Repayment Options: Borrowers typically have the flexibility to choose a repayment tenure that suits their business's financial situation. Axis Bank's unsecured business loans usually offer flexible repayment options ranging from 12 to 60 months. Additionally, borrowers may have the option to make part-prepayments or foreclose the loan before the end of the tenure.

6. Minimal Documentation: Axis Bank endeavors to make the loan application process hassle-free by requiring minimal documentation for unsecured business loans. Businesses usually need to provide basic documents such as business registration documents, financial statements, income tax returns, bank statements, business plan, and any other documents as per Axis Bank's requirements.

7. Customized Solutions: Axis Bank may provide customized loan solutions tailored to meet the specific financing needs of businesses across various sectors. Whether it's working capital finance, term loans, equipment financing, or other business requirements, Axis Bank strives to offer suitable solutions through unsecured business loans.

8. Online Account Management: Axis Bank often provides the convenience of online account management for unsecured business loans, allowing businesses to track their loan details, repayment schedule, and other account-related information conveniently through their online portal or mobile app.

These features may vary based on the specific unsecured business loan product offered by Axis Bank and may be subject to change. It's advisable to directly check with Axis Bank or visit their official website for the most accurate and up-to-date information regarding the features of their unsecured business loan offerings.

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Eligibility Criteria for AXIS Bank Business Loan:

The eligibility criteria for an unsecured business loan from Axis Bank may vary depending on factors such as the type of loan, loan amount, tenure, and the applicant's financial profile. However, here are some common eligibility criteria that businesses typically need to meet:

1. Business Type: Axis Bank may offer unsecured business loans to various types of businesses, including sole proprietorships, partnerships, private limited companies, public limited companies, and limited liability partnerships (LLPs).

2. Business Vintage: The business may need to have been in operation for a certain period, usually ranging from 1 to 3 years. The exact vintage requirement can vary based on the nature of the business and the loan product.

3. Turnover: Axis Bank may require the business to have a minimum annual turnover to qualify for an unsecured business loan. The turnover requirement can vary depending on factors such as the loan amount applied for and the nature of the business.

4. Creditworthiness: Axis Bank typically assesses the creditworthiness of the business, including its credit history and financial performance. A good credit history and financial track record are often preferred.

5. Profitability: The business may need to demonstrate a certain level of profitability to qualify for an unsecured business loan from Axis Bank. This helps assure the bank of the business's ability to repay the loan.

6. Legal and Regulatory Compliance: The business should be compliant with applicable legal and regulatory requirements, including tax compliance, statutory filings, and adherence to industry regulations.

7. Documentation: Businesses usually need to provide documentation to support their loan application, including business registration documents, financial statements (such as profit and loss statement, balance sheet, and cash flow statement), income tax returns, bank statements, business plan, and any other documents as per Axis Bank's requirements.

8. Purpose of the Loan: Axis Bank may have specific purposes for which it provides unsecured business loans, such as working capital finance, business expansion, purchase of machinery or equipment, infrastructure development, or other business-related activities.

9. Debt-to-Income Ratio: Axis Bank may assess the business's Debt-to-Income Ratio (DTI), which measures its ability to manage its debt obligations in relation to its income. A lower DTI ratio indicates better financial health and repayment capacity.

These eligibility criteria are based on general industry practices and may vary based on Axis Bank's specific policies and the loan product applied for. Therefore, it's advisable to directly check with Axis Bank or visit their official website for the most accurate and up-to-date information regarding eligibility criteria for their unsecured business loans.

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Service is Available at Any Location:

AXIS Bank Business Loans are available for main cities and small towns all over India with geographical locations covering 25km to 40km in each location. (Only Listed Pincode)

AXIS Bank Business Loans are available for Mumbai, Bengaluru, Hyderabad, Chennai, Pune, Ahmedabad, Surat, Indore, Jaipur, Nagpur, Kanpur, Kolkata, Bhopal, Prayagraj, Amritsar, Vadodara, Patna, Bhubaneswar, Ranchi & Guwahati - (PAN INDIA, Metro City, Town, Small Town, 25km to 50km Surround).

 

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