The eligibility criteria for unsecured business loan lenders in India depend upon various factors. In this blog, we’ve discussed them exhaustively. Click here to read.

1. Is my business eligible for an Unsecured
Business Loan?

2. Introduction
• Unsecured Business Loans Are Very Popular Due To The Speedy
Processing Of Applications
• The Interest Rate For UBL Is Slightly High

3. Eligibility Criteria For Availing UBL Without
Security
• The Business Must Have Been Operational For At Least Three
Years
• The Business Should Have A Reasonably Solid Credit And
Financial History
• The Businessman Needs To Provide Some Sort Of Guarantee Of
Repayment

4. Eligibility Criteria For Availing UBL Without
Security
• The Borrower Should Submit A Business Plan To Prove The
Financial Viability Of The Business
• Annual Turnover Of The Business Is Likely To Be An Important
Factor

5. Documents For UBL
• Application Form, Duly Filled
• Proof Of Registration/License Of The Business
• KYC Documents (Self-attested Copies) As Specified, Of The
Borrower And Guarantors, If Any
• Audited Annual Financial Statements Of The Business

6. Documents For UBL
• Bank Statements For The Last Six Months
• GST Returns For The Previous Financial Year
• List Of Directors And Their Shareholding Patterns As Applicable
• Signed List Of Existing Term Loans And Working Capital Facilities

7. Tips To Get A UBL
• Make Sure Your Financial Statements Are Audited
• Ensure All The Documents Are Prepared
• Prepare A Detailed Business Plan
• If You Are A Start-up, You Can Try Getting A Secured Loan At
First And Then Apply For UBL

8. 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- Is my business eligible for an Unsecured Business Loan?