A startup business loan allows the business owner to acquire business finance from the banks, financial institutions, Non-Banking Financial Banking (NBFCs) to start a new business or expand an existing business.

1. Business Loan for Startup

2. A startup business loan allows the business owner to acquire business finance from the banks, financial
institutions, Non-Banking Financial Banking (NBFCs) to start a new business or expand an existing
business.
The interest rate charged by the lender will depend on the borrowed amount availed by you and the
repayment schedule.
The government of India has taken several initiatives to promote startup business & small-scale
industries and also give financial support.
However, Indian government have inaugurated many loan schemes for start-ups where the borrower
does not require to pledge security or collateral.
Loan schemes by government in India
• Listed below are some government schemes by India: -
• Stand-up India scheme
• MUDRA loan under PMMY
• Bank credit facilitation scheme
• CGTMSE Scheme
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3. Eligibility criteria for business loan startup
The eligibility criteria for startup business loan depends on many factors such as age
limit of the borrower, repayment history, annual income, business turnover, etc.
• The age of the borrower must be between 22 years to 60 years of age.
• The business vintage should be a minimum of 3 years.
• The borrower with no default in any existing loan with any financial institution.
• The organization should avail a patron guarantee provided by the trademark and
patent office.
How to apply for a business loan for startups?
• To avail a business loan for startup, the borrower can visit financeseva.com to
choose and compare the best deal offered by the lender at an attractive rate.