Welcome

  • +91-9537-124 124

    care.f@livanity.com

  • A-504, Rajnigandha Apartment

    VADODARA-390021,GUJARAT,India.

pscDiv1Img1.jpg

Microloans are generally a small amount of loans up to Rs. 1 lakh.

Micro Business Loan

A micro business loan in India refers to a financial product designed to provide small amounts of capital to micro-enterprises or businesses with very few employees and low turnover.

These loans are tailored to meet the unique needs of small businesses, startups, or self-employed individuals who may not qualify for traditional bank loans due to their size, lack of collateral, or limited credit history.

Micro business loans typically have lower eligibility requirements and offer smaller loan amounts compared to traditional business loans.

They may be used for various purposes such as purchasing equipment, inventory, working capital, or expanding the business operations.

In India, microfinance institutions, non-banking financial companies (NBFCs), and government-backed schemes often provide micro business loans to support entrepreneurship and economic development, particularly in rural and underserved areas.

Get a Quote

Micro Business Loan-

For an Inquiry

Occupation
Nature of Loan
pscDiv2Img1.jpg

Following are the procedure steps:

1. Research and Identify Lenders:

Begin by researching microfinance institutions, banks, NBFCs, or government-backed schemes that offer micro business loans in India. Consider factors such as interest rates, eligibility criteria, loan terms, and reputation.

2. Determine Eligibility:

Review the eligibility criteria set by the lender to ensure that your business meets the requirements. This may include factors such as the size of your business, turnover, credit history, collateral, and the purpose of the loan.

3. Prepare Documentation:

Gather all necessary documents required for the loan application. This may include identity proof, address proof, business registration documents, financial statements, income tax returns, business plan, and any other documents requested by the lender.

4. Submit Application:

Complete the loan application form provided by the lender and submit it along with the required documentation. Some lenders may also require you to provide additional information or undergo a credit assessment process.

5. Credit Assessment:

The lender will evaluate your creditworthiness based on the information provided in your application and supporting documents. This may involve reviewing your credit history, financial statements, and other relevant factors.

6. Loan Approval:

If your application meets the lender's criteria and passes the credit assessment process, you will receive approval for the loan. The lender will specify the loan amount, interest rate, repayment schedule, and any other terms and conditions associated with the loan.

7. Loan Disbursement:

Once the loan is approved, the lender will disburse the funds to your business bank account. Ensure that you understand the terms of the loan agreement and use the funds for the specified purpose.

8. Repayment:

Make timely repayments according to the repayment schedule agreed upon with the lender. Failure to repay the loan on time may result in penalties or adverse effects on your credit score.

9. Monitoring and Support:

Some lenders may provide ongoing support and monitoring to help you manage the loan effectively and grow your business. Stay in touch with your lender and seek assistance if needed.

Why choose Livanity for Micro Business Loan?

Livanity is a one-stop solution for all your financial needs. Here, we try to provide you best services that are hassle-free and quick in nature. For Micro Business Loan, we provide you a comparative analysis of what different banks are offering. We also assist you in your final decision.

Here are a few reasons for you to apply for a Micro Business Loan at Livanity:

Fast assistance:

At Livanity, you can contact us at any official working hours of the day.

Customer needs in forefront:

Your needs are our priority. We promise to deliver you with services that are best on our capabilities. By handpicking Micro Business Loan offers based on customer profile, we try to give you the most personalized experience.

Compare Offers Online:

With more than 100 lenders as partners, you can compare the different offers of financial institutions to make the right decision. In fact, we help you find the best lender as per your eligibility requirements. There is a personalized relationship lender for every customer who helps him/her select the bank of his/her choice.

Real-time customer support:

Our customer support team is fast and efficient to clear all your doubts regarding loan eligibility, procedures, offers, documentation and repayment options. We even contact with the respective lender on behalf of you.

Copyrights © 2020 All Rights Reserved. Powered by Livanity Financial Services