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Unsecured Business Loans

Drive your business to new heights with Hero FinCorp's unsecured business loan. We stand committed to provide you with timely assistance for scaling up your business and be your partner in your growth process.

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Personal-loans

UNSECURED BUSINESS LOAN

Unsecured business loan

Unsecured business loan with easy documentation

Flexible Tenure

Flexible Tenure of up to 5 years

Quick Approval

Quick Approval within 48 hours

Low and attractive

Low and attractive interest rates

why choose

WHY CHOOSE US?

  • Hero FinCorp is the best-in-class provider of financing solutions for SME's.

  • Pre-approved business loans with Hassle free process and minimum documentation.

  • With the faster TAT (Turn around time) in the industry, we stand committed to process your loan within 48 working hours*.

    *Terms & Conditions Apply

FinCorp-advantage

THE HERO FINCORP ADVANTAGE!!!

  • Unsecured business loans ranging from Rs 3 lakhs to 40 lakhs

  • Competitive Industry rates for unsecured facilities

  • Flexible repayment tenure of up to 60 months.

  • Minimal Documentation and trouble-free disbursal.

    *Terms & Conditions Apply

approach

OUR APPROACH

  • Are you a manufacturer, wholesaler, B2B service provider, distributor or trader who is looking for an easy financing option for your personal requirements or professional endeavors? Our Unsecured business loans can enable you to have quicker access to funds to meet your business operation requirements without any delay.

  • We at Hero Fincorp understand your business requirement of a quick hassle free loan option, thereby providing it when you need it most with minimal documentation and faster TAT.

    *Terms & Conditions Apply

OUTLOOK

OUR OUTLOOK

  • At Hero FinCorp, we believe in providing prompt services and building strong & lasting relationships.

  • Our goal is to make loans more affordable for you and finance all your requirements in the most convenient way.

  • Act now and take advantage of the pre-approved facility and lightning speed customer service.

  • *Terms & Conditions Apply

features and benefits

Features and benefits of
unsecured business loan

  • Hero FinCorp’s unsecured business loans come with affordable interest rates to help you meet your business goals easily.
  • The loan amount can be anywhere between INR 3 lakhs and INR 40 lakhs, as per your need.
  • When you apply for a business loan with us, you get to pick from flexible tenures that can go up to 60 months.
  • The documentation required is simple and minimal and we approve your request within 48 hours provided all required details and documents are furnished properly
  • Whether you are a wholesaler, retailer, manufacturer, trader, distributor or B2B service provider, you can avail unsecured small business loans from us
  • We offer multiple modes of repayment for your ease, including PDC, NACH, ECS and Cash

Difference between secured loans vs. unsecured loans

  • You can avail unsecured business loan without collaterals, whereas, to avail a secured loan, you need to pledge an asset (land, house, gold etc.) as security.

  • Since unsecured business loans do not require collateral, they come at a slightly higher interest rate than secured business loans. A good credit score can help you negotiate the rate though.

  • Business loans without security are approved faster than secured loans as we do not need extra time to assess asset-related documents.

  • While the loan amount in case of secured loans is largely determined by the asset value, in case of unsecured loans, it depends mostly on your credit history.

  • In case of unsecured business financing, if you default, your credit score will be negatively impacted. However, in case of secured loans, if you default, the lender can repossess the asset and sell it to recover the debt that is outstanding.

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Customer Testimonials

EMI Calculator?

EMI or Equated Monthly Instalment is the monthly payment that you make towards the repayment of your loan. It is crucial because you have to plan your finances around it. The EMI amount depends on your loan amount, tenure and interest rate. You can now calculate Personal Loan EMI with the help of our EMI calculator. Simply enter your loan amount, repayment tenure, and the interest rate. It will help you plan your loan better by deciding on the EMI which best suits your budget.


Loan Detail

Select Loan Amount

Min ₹ 3,00,000

Max ₹ 40,00,000

Interest Rate

15 %

Min 15%

Max 30%

Select Loan Repay Duration

12 Months

Min 12 Months

60 Months

Your Estimated EMI

₹ 4477

Unsecured Business Loan Application Process

  • 1

    Before you apply for an unsecured small business loan in India, make sure you are eligible. SMEs that have at least 5 years of experience can approach us for this loan. They should have a positive financial and credit history too.

  • 2

    To apply for a collateral free business loan, you can:
    Apply through our online form or
    Mail us at corporate.care@herofincorp.com, or
    Call us on 1800-102-4145.

  • 3

    Post submitting the form, you will be required to submit documents like the KYCs of borrowers and guarantors, latest audited financials, GST returns for financial year, bank statement of the last 6 months, and list of directors or shareholding patterns if applicable.

  • 4

    Next, you can choose from different unsecured business loan amount and tenure, based on your requirement, and the documents you have provided.

  • 5

    Finally, go through the terms and conditions carefully before accepting them, to conclude the application

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Unsecured Business Loan Interest Rates and Charges

Unsecured business loan interest rate in India varies from one financial institution to another, and so do the charges. However, the following factors usually determine the rate you will be charged:

  • Credit score: If you have a good credit score, getting a business loan that is unsecured will be affordable, as you can expect a low interest rate or negotiate for one. Note that the rate might be affected by your previous loan repayments as well.
  • Monthly income: Unsecured business loan interest rates are low if your monthly income is high, as it means you can repay more easily.
  • Amount of loan: The lower the loan amount, the lower will be the interest rate, and vice versa.
  • Lender-borrower relation: If the borrower enjoys a good relationship with the lender due to a decent repayment history, he can secure a low interest rate.
  • Loan tenure: Business loans without security come with low interest rates when the tenure is long, and vice versa. However, a long tenure means you end up bearing a larger interest burden.

Types of unsecured business loan

Unsecured loans for businesses can be of two types:

  • Line of credit – This is a flexible loan that you can use multiple times, as per your need. You can draw the required amount of money multiple times and pay (the interest) for only what you use. It is ideal for periodic business payments.
  • Term loan – This form of unsecured business loan comes in handy when you have a one-time need for capital to purchase a building, land or machinery. As they are offered based on your creditworthiness and not collateral, they have short tenures.
SERVING CITIES
  • Delhi & NCR
  • Jaipur
  • Ludhiana
  • Chandigarh
  • Kenal
  • Panipat
  • Coimbatore
  • Ambala
  • Mumbai
  • Aurangabad
  • Pune
  • Ahmedabad
  • Surat
  • Erode
  • Rajkot
  • Indore
  • Raipur
  • Nagpur
  • Bhopal
  • Kolkata
  • Chennai
  • Jamshedpur
  • Hyderabad
  • Bangalore
  • Hasur
  • Vijayawada
  • Gantur
  • Tripati
SERVING INDUSTRIES
  • Chemical
  • Electrical Equipment and Components
  • Industrial Paper
  • Pharmacist
  • Restaurants
  • Irrigation related manufacturing
  • Electronics
  • Packaged food
  • Plastic
  • Defence Supplier
  • Dyes and pigments
  • Farm equipment
  • Pharmaceuticals
  • Printing and packaging
  • Steel and alloy steel pipes
  • IT enabled services
  • Textile
  • White goods

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Frequently asked questions(faqs)

An unsecured business loan is a business funding solution which requires no personal or business asset as collateral. An unsecured business loan is easier to obtain, quick, hassle-free and short tenure loan for business owners to fulfill their business requirements. Unsecured business loans require the borrower to show a good credit rating, with excellent financial history and business experience. Hero FinCorp offers easy and quick unsecured business loan to Sole Proprietorship, Partnership, Private Limited, Public Limited, Trust/Society and HUF for fast track business growth. Unsecured business loan assists business owners to increase their business cash flow, expand business operations, office renovation, stock up on inventory, technology upgrade, infrastructure, machinery lease, upgrade and purchase.
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