moneyview Business Loan

Below are the details about the Moneyview Business Loan

• Adaptable Loan Range: Borrow anything between Rs.5,000 to Rs.10 Lakh, contingent on your qualification.
• Swift Funds Transfer: Following loan approval and agreement submission, expect the funds in your bank account typically within a day.
• No Collateral Required: Moneyview offers unsecured personal loans, meaning there's no need for assets or a guarantor.
• Competitive Interest Rates: Enjoy interest rates that start as low as 1.33% monthly.
• Fully Digital Experience: From initiation to disbursement, the entire loan procedure is online.
• Customizable Repayment Options: Choose repayment durations ranging from a short 3 months up to 60 months.
• Accommodating Credit Score Requirements: Secure a loan even with a modest CIBIL or Experian score of 650.
• Instant Eligibility Insights: Determine your loan eligibility in a brief 2-minute span via the Moneyview website or app.

To be eligible for immediate personal or entrepreneurial business loans through MoneyView, ensure you meet the following conditions:

• Applicant's age should be between 21 and 57 years.
• Salaried individuals need to have a minimum monthly income of Rs.13,500.
• Self-employed applicants should earn at least Rs.15,000 per month.
• Monthly earnings should be directly deposited into the applicant's bank account.
• The applicant must maintain a CIBIL or Experian score of at least 650.

• Credit Score: Just as with personal loans, a higher credit score usually indicates better creditworthiness. Lenders look at the borrower's CIBIL or Experian score, among other credit bureaus.
• Business History & Stability: Lenders prefer businesses that have been in operation for a few years since they're typically seen as less risky compared to new startups.
• Revenue & Profitability: A steady revenue stream and profitability indicate the business's ability to repay the loan.
• Existing Debt: If a business already has significant debt, it may affect its ability to take on more, as lenders could see it as over-leveraged.
• Loan Amount and Tenure: The amount you wish to borrow and the repayment term can influence the loan's approval and interest rate.
• Nature of Business: Some sectors are considered riskier than others, which could affect the loan's terms and conditions.
• Business Plan: Especially for new businesses or those seeking significant amounts, a clear business plan can influence the decision. It shows the lender how you intend to use the money and your strategy for growth.
• Cash Flow: Lenders want to know that the business generates enough cash to cover operating costs and loan repayments.
• Collateral: Secured loans, which are backed by collateral, can have better terms and interest rates compared to unsecured loans.
• Economic Conditions: External factors like the overall economy, industry trends, and even geopolitical events can influence loan decisions.
• Legal & Compliance Status: Businesses that face legal troubles or are not in compliance with local regulations might be seen as riskier.
• Banking History: A positive banking relationship and history can work in favor of the applicant.

The documentation required for applying for small business loans or personal loans from Moneyview is minimal. All you will have to do is - 

• Confirm or enter your PAN number 
• Ensure that your mobile number is linked to your Aadhaar card for KYC verification
• Provide a clear selfie taken in a well-lit area 

Please note that the documentation requirements will vary based on your profile. You may be required to upload proof of address, bank statement, and other supporting documents. 

In case you are required to upload proof of address, any one of the following documents will suffice - 

• Aadhaar Card
• Valid Indian Passport
• Valid Voter ID
• Valid Driver’s License
• Utility Bills (Electricity, Water, Gas) dated within the last 60 days 

In case you are required to upload proof of income, you must furnish your bank statement for the last three months. This statement must also show your salary credits.

You can get a Moneyview personal ‘loan for starting a new business without security’. The process of applying for a Moneyview personal loan is very simple and involves only 4 simple steps - 

STEP 1: Apply Now

Click on the ‘Apply Now’ button on this page which will redirect you to the requisite page where you can check your eligibility for Moneyview Business Loan.

STEP 2: Check Eligibility

Provide the required details and find your eligibility in 2 minutes.

STEP 3: Select Loan Tenure

Based on the options provided, select the loan amount and repayment term of your choice.

STEP 4: Upload Documents

Upload all of the necessary documents online for verification.

STEP 5: Amount Disbursal

Post verification and submission of the loan agreement, the loan amount will be credited to your account within 24 hours in most cases.