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Everything You Need to Know About Getting A Small Business Loan Without Collateral

Here is all you need to know about collateral-free loans and how you can get one to fund your business without putting any asset on line.

HeroFinCorp
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Everything You Need to Know About Getting A Small Business Loan Without Collateral

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  1. Everything You Need to Know About Getting A Small Business Loan Without Collateral

  2. Why Avail Collateral-Free Business Loan? • You may need urgent funding for expansion, operations or to cover losses • You might not have assets to pledge

  3. Why Collateral-Free Loan Works? • Low risk for borrower as no asset is pledged • Loan processing is quick • Tenures are flexible

  4. Eligibility Factors • You can be - retail trader, wholesaler, manufacturer, or B2B provider • Age of the business • Financial history of the business and credit history of the owner should be excellent • Projected cash flows for next few years • Business plan • Past few years’ turnover

  5. Documents • Business registration or license • KYC of borrower and guarantor • Account statements of past 6 months • Audited balance sheet • Profit and loss statement • Previous financial year’s GST statement • Working capital and current loans’ details • Application form • List of directors and their shares (for private limited companies)

  6. Collateral-free Business Loan Benefits • No risk of losing asset • Fast loan processing • Timely payments will help build credit history • Loan amount not restricted by collateral value

  7. Lender Selection • Research and compare lenders online • Visit lender websites, read reviews, terms and conditions • Ask friends for recommendations • Compare loan terms

  8. Conclusion If you are eligible, take an unsecured business loan for quick funding, without risking any asset.

  9. Thank You !Would Love to Hear From You Hero FinCorp Limited 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel. 18001024145 Email Id: Corporate.Care@HeroFinCorp.com Website: https://www.herofincorp.com/ Know more- Everything You Need to Know About Getting A Small Business Loan Without Collateral

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