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Overview

Business Loan – Powering Your Growth with Money Mentor

No matter if you’re expanding your team, upgrading equipment, or boosting marketing efforts, a business loan ensures you have the funds needed to scale your venture.

At Money Mentor, we understand that timely access to capital is crucial for business success. Business loans are unsecured financial solutions designed to support your growth—whether you need working capital, want to open a new office, or are looking to expand operations.

As your trusted financial advisor, Money Mentor helps you find the most competitive business loan offers from top banks and NBFCs. Our expert team assists you in comparing loan products, calculating EMIs, and securing the best financing options tailored to your needs.

With Money Mentor, you get end-to-end support throughout your loan journey, ensuring a smooth and hassle-free experience. Let us help you fuel your business ambitions today.

Uses of Business Loans with Money Mentor

A business loan is a powerful financial tool that helps meet various capital needs, ensuring smooth operations and growth. Whether you need funds for expansion, hiring, or managing cash flow, Money Mentor connects you with the best loan solutions.

1. Purchasing Inventory

Maintaining a steady supply of inventory is essential for uninterrupted business operations. Business loans help companies restock their products without straining cash flow, making them an excellent option for small businesses that lack substantial assets.

 

2. Hiring Employees

A growing business needs a skilled workforce. The cost of recruiting and training employees can be high, but a business loan allows you to build and strengthen your team without financial stress.

 

3. Upgrading Machinery

Stay ahead of the competition with the latest equipment and technology. Business loans provide the financial backing to purchase advanced machinery, enhancing productivity and efficiency without affecting your working capital.

 

 

4. Marketing & Advertising

Effective marketing drives customer engagement and business growth. Whether you’re investing in digital ads, branding, or hiring marketing experts, a business loan ensures you have the funds to expand your reach.

 

5. Managing Operational Expenses

From rent and utilities to payroll and supplies, daily expenses can sometimes create cash flow challenges. A business loan offers financial flexibility to cover operational costs, keeping your business running smoothly.

 

Eligibility Criteria

Getting a business loan is simple with Money Mentor. Whether you are a salaried employee, government worker, or a self-employed professional, you can qualify for a loan by meeting basic eligibility criteria set by banks and NBFCs.

Salaried professional, self-employed, or business owner.

Aged between 21 and 60 years

Having a job and a minimum of 3 months experience

Having a minimum of Rs. 25,000 net income per month.

Documentation Requirements

To apply for a business loan with Money Mentor, you need to submit the following documents:

  • Photo Identity Proof: Submit a PAN Card, Passport, Voter’s ID Card, or Aadhaar Card.
  • Address Proof: Provide an Aadhaar Card, Passport, Voter’s ID, Utility Bills (Electricity, Water, Gas), or Driving Licence.
  • Address Proof: Provide an Aadhaar Card, Passport, Voter’s ID, Utility Bills (Electricity, Water, Gas), or Driving Licence.
  • Financial Statements: Provide a balance sheet and profit/loss account audited by a CA for the last two years.
  • ITR Documents: Submit the last three years’ Income Tax Returns (ITRs) for both company and individual.
  • Business PAN: Provide the PAN Card of the company or partnership firm.
  • Partnership Proof: Submit a certified copy of the Partnership Deed Agreement.
  • GST Registration: Provide a valid GST Registration Certificate.
  • Company Incorporation: Submit the Certificate of Incorporation for registered businesses.
  • Business Address Proof: Provide any valid document showing the official business address.
  • Legal Documents: Submit Articles of Association & Memorandum of Association.
  • Professional Licence: Provide a valid practice licence if you are a consultant, doctor, or professional.

Application Process

Personal Loans Lowest Interest Rates

Bank Name
Minimum Interest Rate (%)
Loan Amount
Loan Tenure
Minimum Processing Fees
IndusInd Bank
10.25%
₹1 Lakh - ₹50 Lakhs
1 - 5 Years
1%
HDFC Bank
10.35%
₹1 Lakh - ₹99 Lakhs
1 - 6 Years
₹5899/-
HDFC Bank
10.35%
₹1 Lakh - ₹99 Lakhs
1 - 6 Years
₹5899/-

Processing Fees

Lenders charge a one-time processing fee to cover administrative expenses and loan application processing. This fee generally ranges between 2% to 3.5% of the loan amount plus GST and is payable at the time of loan disbursement. With Money Mentor, you can explore business loans with low processing fees, ensuring a cost-effective borrowing experience for your business growth.

Business Loans Balance Transfer

A business loan balance transfer allows you to shift your outstanding loan amount from your existing lender to a new one for better benefits, such as:
✅ Lower interest rates
✅ Reduced EMIs
✅ Extended repayment tenure
✅ Additional benefits like a top-up loan

If your current lender no longer meets your financial needs, switching to a new lender with more favorable terms can be a smart move. However, it’s crucial to carefully evaluate factors like interest rates, repayment flexibility, and eligibility criteria before making a decision.

At Money Mentor, we assess the right time for a balance transfer and provide step-by-step guidance, ensuring you secure the best possible loan terms.

Documents Required for a Business Loan Balance Transfer

To apply for a personal loan Balance Transfer, you need to submit the following documents:

  • Identity Proof – Passport, Aadhaar Card, Driving License, etc.
  • Address Proof – Aadhaar Card, Passport, Voter ID, etc.
  • Bank Statements – Last 12 months’ statements for current and savings accounts.
  • Income Proof – Balance Sheet and Profit/Loss Account audited by a registered CA for the last two years, last three years of ITRs (both company and individual).
  • Business Proof – PAN Card, Partnership Deed agreement, GST Registration Certificate, Registration of Incorporation, Business address proof, Articles of Association (AoA

Eligibility Criteria for a Business Loan Balance Transfer

  • Age – Between 21 and 65 years.
  • Business Turnover – Minimum annual turnover of ₹40 lakhs.
  • Business Tenure – At least 3 years of operational history.
  • Profitability – Must be a profit-making business for the last 2 years.
  • Eligible Entities – Proprietors, self-employed individuals/professionals, private limited companies, limited liability partnerships (LLPs), Hindu Undivided Families (HUFs), and partnership firms in trading, manufacturing, or services.
  • Minimum Annual Income – As specified by the lender, typically ₹2 lakhs or more.

Apply Easily with Money Mentor!

Skip the long processes and endless paperwork. Money Mentor helps you compare top Business loan offers from leading banks & NBFCs. Get quick approvals and the best rates—apply online today!

Apply Now!
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