Business Loan
Are you a small business owner in need of capital? Business loans offer the perfect solution. Secure easy and affordable financing for your business so you can take it to the next level. Our loans are collateral free with low rates of interest and a range of benefits – from tax relief to faster loan process times. With Business loans, you can access the funds you need to make your business dreams come true
Our Business Loan
Reduces Monthly Payments
Lower your monthly obligations by consolidating high-interest credit card debt into a single, more manageable payment.
Better repayment strategy
Create a more structured approach to paying off your credit card debt with a single, fixed monthly payment.
Single EMI payment
Simplify your debt repayment with a single, fixed monthly payment instead of managing multiple credit card bills.
Lower interest rates
Take advantage of more competitive interest rates compared to traditional credit card debt.
Easy prepayments
Make extra payments towards your debt at any time without penalties or complications.
Eligibility
Qualifying Criteria of borrower:
Business Loan
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Log in and Document Verification
Borrower can log into the borrower portal, raise a loan application and upload the required documents, which are then verified by the Moneymela team to ensure their credit worthiness and repayment capability.
Final Loan Offer
Moneymela's team will sanction a loan offer to the borrower if they pass the eligibility assessment, based on the kind of loan and amount specified by the borrower in the loan application.
Loan Listing
The finalized loan will then be listed on our marketplace for the lenders to invest in.
Loan Agreement Signing
Once a lender selects and finalizes a loan listing, Moneymela initiates the legal documentation process for the loan agreement between the lender(s) and borrower. Once the loan agreement is duly signed by both the parties, the loan fund will be transferred to the borrower's account.
Tracking Loan Listings
Borrowers can track their loan listings on their dashboard, keeping them informed about loan repayments and due dates.
Documents
Documents required borrowers to be uploaded while registering as a borrower:
| # | Identity Proof | Accepted Documents |
|---|---|---|
| 1 | Identity Proof/Date of Birth Proof (any one of the following) | PAN Card , Adhaar Card Voter ID , Passport |
| 2 | Address Proof (Present/Permanent) (any one of the following) | Adhaar Card , Passport , Bank Statement, Voter ID Electricity Bill (within last 3 months) Post-paid Mobile Bill (Last Month) |
| 3 | Photograph | Passport size photograph (1 Copy) |
| 4 | Bank Details | Scan copy of Cheque or Copy of the front page of pass book for details of Account No and IFSC Code. Bank statement or pass book copy of Salary/operating account for last 6 Month. |
| 5 | Proof of Income | Salaried – Salary Slip for Last 3 months. Self Employed – ITR for last 2 Years. Any other document confirming income of the business of the borrower. |
