Frequently Asked Questions about Small Business Loans
A business loan is usually a one to three year unsecured loan given by NBFC, P2P lending platforms, or banks without any guarantor, collateral, or hypothecation of assets. Business entities such as partnerships, proprietorships, public limited companies, small businesses, or private limited companies are eligible for such borrowing. The usage of a small business capital EMI loan is at the discretion of the borrowers and can be used for meeting short-term cash requirements, plant and machinery investment, working capital, or inventory purchase.
EMI Walle will work with its partners to try and get you the business loan within 5 to 7 working days of document submission and verification
Borrowers availing of a business loan from EMI Walle will have to provide documents such as address proof, last 2 years' financial reports (profit & loss, audit report), service tax returns/VAT, last 6 months' bank statement, MOA/partnership deed, existing loans, etc. Additionally, EMI Walle will also require you to present the director/partner's PAN Card, ITRs, own house proof, etc. However, depending on the case, we may need additional documents as well.
The rate of interest on a business loan may vary from 16% to 23% depending on your loan requirements and other factors. The processing fee on your business loan may go up to 2.5%. If you want to avail of an online short-term EMI loan in Pune, Lucknow, Jaipur, or any other part of India, contact us to know the exact rate of processing fee and rate of interest.
Visit us with your financial documents to help us assess your credibility and decide your eligibility for a business loan. If you are looking for easy short-term EMI loans in Ghaziabad, Ahmedabad, Amritsar, or any other cities, contact us today
Your EMI on a business loan will be due on a fixed date each month. You will be alerted on the app every time your EMI is due.
Yes, we allow part payment but there can be restrictions on the number of times you can make part payments a year. Please read the offer document carefully and consult your advisor before signing a loan document.
All business loan repayments are done through the customer's bank account in the form of EMI. The customer must give a few post-dated cheques and sign an ECS mandate in the disbursing bank's favor.