What is a Business Loan Eligibility Calculator?
Posted by Rashmi Sharma on July 19th, 2019
Nowadays, an unsecured business loan is obtainable by an NBFC while not providing any security. It’s altogether up to the online lender whether or not they will provide loan to a well-established firm or a completely new setup. Many NBFCs, offer free-of-cost loan eligibility calculator which will tell you within seconds about the amount you're eligible to borrow and also the various EMI options available.
If the borrower has all the mandatory documents and has minimum CIBIL score required for the unsecured business loan, then the loan gets approved in just a few days. Given below is the list of unsecured business loan eligibility criteria:
Criteria for loan approval:
NBFC’s analyse several factors before a loan is approved to the applicant. They're as follows:
In addition to the above criteria, you should always keep in mind that no unsecured business loan for CIBIL defaulter is going to be approved. Thus, a minimum CIBIL score is always needed for a business loan without security.
What is bank loan Eligibility Criteria?
Mostly loan amount offered by different NBFC’s varies as per lender to lender. The loan repayment tenure is mostly between 12 months to 24 months.
How to increase Eligibility for Unsecured Business Loan?
Below mentioned are the ways through which you'll able to increase your business loaneligibility:
How to Use Business Loan Eligibility Calculator?
Below mentioned are the ways to use the unsecured business loan eligibility calculator on any online lender website:
As per the entered value and inputs, you will be able to see the amount for total interest payable and the eligibility amount.
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About the AuthorRashmi Sharma
Joined: August 15th, 2018
Articles Posted: 2
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