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Best Small Business Loans in 2021

Best Small Business Loans in 2021

A business irrespective of the size, requires investment and funds for growth, expansion and sustainability in the market. Small and mid-sized (SMEs) businesses struggle to survive with a lack of finance, especially after the lockdown. Personal loans offer a great deal of financial support to small business owners and ease their financial shortage during peak seasons.

Small business loans are available online through instant loans apps and can be redeemed within 24hours with the right set of documents. The easy repayment options also encourage small business owners to opt for personal loans as they do not have to leave their shop or counter to pay EMIs, everything can be processed online through a smartphone loan app.

The year 2021 has re-opened the doors for fresh ventures and even the customers are encouraged to explore the markets. Hence, SMEs need to bounce back with the right amount of stock and pricing to make the revenue this year. So, the financial companies and non-banking financial firms (NBFCs) have introduced beneficial small business loans in 2021:
 
  1. Working Capital Loan to support daily operational expenses and working capital requirements. You can calculate a working capital requirement by subtracting current assets and current liabilities.
 
  1. Same Day Funding is an unsecured personal loan that is approved the very same day of submitting a loan application. The process is mainly online with paperless documentation that makes speedy loan sanctions and disbursal. Getting funds the very same day can help in clearing urgent debts or making prompt purchases.
 
  1. Merchant Cash Advances are easily available to stable business owners running a retail shop, restaurant etc. for a long time. It is a credit obtained to secure future sales.
 
  1. Loan for Equipment supports machinery and equipment requirements that help in consistent productive cycles and generates sales. For a restaurant, a refrigerator or an oven can be equipment in demand. This type of loan can also be used to repair, change or upgrade existing machinery/equipment.
 
  1. Bad Credit Loan offers financial help to the merchants with low or zero credit score. These are only approved at the cost of a collateral or a security against the loan acquired.
Simply Cash is a suitable instant loan app for small businesses to get personal loans up to Rs.1,50,000. The uniqueness of this app is that it allows SMEs to complete the entire loan application without any physical documentation. The Simply Cash advantage lies in its low rate of interest that starts with 1.67% per month, which makes the EMI payment affordable.

Download the Simply Cash app through Google Play Store to get an instant cash flow up to 1.5 lakh at the tip of your finger. Simply Cash follows an easy process of loan application and disbursal:
 
  1. Register your mobile number linked to your Aadhar card or an enter email ID to receive an OTP number for verification.
     
  2. Enter your Aadhar card number or smart card driving license
 
  1. Select the loan amount and tenure through the loan EMI calculator
 
  1. Lastly, fill in your personal, financial and occupational details through digitized KYC documents, verified in real-time
 
  1. Out of the listed banks, select your bank and enter account details in which you want the loan amount to get disbursed.
 
 

SimplyCash

SimplyCash powered by Hero FinCorp is an instant personal loan app providing cash loans of upto INR 1,50,000 for both salaried and self-employed individuals. Driven by technology and fuelled by innovation, SimplyCash solves instant cash requirements of customers in just a few simple clicks without any physical documentation or meeting. The mobile app is available to users through all popular Android play stores like Google play store, Samsung store, Xiaomi store etc. With one of the most widespread presence, SimplyCash currently offers its services in over 90 major locations in India. Known for a seamless process, instant loan disbursal and transparent pricing - SimplyCash truly lives upto the expectations of being a 'Hero' product.   Note: SimplyCash is a duly registered trademark and is a loan product offered, managed and operated by Hero FinCorp. Hero FinCorp Limited is a Non-Banking Financial Company registered under the provisions of Reserve Bank of India ("RBI") and is in the business of finance and lending.


Tags:
loans personal loan Small Loans
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Accepted Banks:

ICICI BANK LTD HDFC BANK LTD AXIS BANK IDBI BANK STATE BANK OF INDIA PUNJAB NATIONAL BANK YES BANK INDUSIND BANK

EQUITAS SMALL FINANCE BANK LTD KOTAK MAHINDRA BANK LTD IDFC FIRST BANK LTD UJJIVAN SMALL FINANCE BANK LTD BANK OF BARODA TAMILNAD MERCANTILE BANK LTD INDIAN OVERSEAS BANK RBL BANK LTD BANK OF MAHARASHTRA DEUTSCHE BANK AG PAYTM PAYMENTS BANK LTD CITY UNION BANK LTD FEDERAL BANK SOUTH INDIAN BANK STANDARD CHARTERED BANK CANARA BANK KARNATAKA BANK LTD AU SMALL FINANCE BANK LTD CITI BANK BANDHAN BANK DHANALAXMI BANK UNION BANK OF INDIA DCB BANK LTD DBS BANK INDIA LTD THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD DEUTSCHE BANK JANA SMALL FINANCE BANK LTD UCO BANK

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