With many entrepreneurs making their mark and moving ahead with path-breaking strides, startups are no longer a derogatory word, in fact, they have become the current buzzword.
At Fullerton India, we offer startup loan for new business to assist young entrepreneurs achieve their entrepreneurial dreams. You can avail a startup business loan if you are of a small or medium-sized firm for different requirements. Your requirement could be a working capital loan - to finance the working capital requirements during expansion or an equipment purchase loan - for purchase of new machinery or specialized equipment, or any other such expense.
Startup loans for new businesses are different from other financing loans for established companies and have various benefits and specific features.
Flexibility - Startup business loans are designed with more flexibility to allow the business owner to concentrate on growth than just worry about repayment. At Fullerton India, we offer customised packages with flexible repayment tenures for your convenience.
Collateral - At Fullerton India, our shorter-term startup loans for a new business do not require collateral. You can avail up to INR 50 lakhs of unsecured business loans.
Availability of Funds - We ensure swift disbursal as soon as your loan is approved.
Documentation Required - To avail a startup business loan from Fullerton India, you will only need to submit basic documents without too many hassles.
The documents required for obtaining a startup business loan from Fullerton India are as follows:
To avail a startup loan for new business from Fullerton India, some of the eligibility criteria are as follows:
For detailed eligibility criteria for business loans, click here.
There are two main types of Startup business loans.
One is a short term working capital loan or a line of credit – used for paying salaries, or other expenses needed to maintain the funds for the day to day running of the business. This loan may require no collateral, and give an initial interest-free period.
The other kind is an Equipment Financial Loan – which is used to fund expansion or growth. It is a longer-term loan and would require the business as collateral. It is used for purchasing heavy or expensive machinery. At Fullerton India, we offer collateral free business loans upto INR 50 lakhs*. For amounts greater than that, we offer business loans that can be secured against property.
The maximum amount of the startup business loan depends on your business, its turnover, and profitability as well as your credit history. At Fullerton India, we offer collateral free startup business loans upto INR 50 lakhs*.
* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.