Introduction to Aditya Birla Business Loan
Even the most resourceful business may require an additional capital from time to time. Every business, from start-ups to mid-level corporations, and from small businesses to multinationals, benefits from timely financing to meet financial goals while also increasing market competitiveness.
Aditya Birla Finance Limited (ABFL) is a pioneering NBFC that provides financial and lending services to customers across the country without any security. It specialises in providing business loans to its customers at attractive interest rates depending on the needs of the business and the applicant's profile. It assists businesses in an increasingly competitive environment by providing an advantage through funding - businesses can take loans for business expansion, machinery purchases, or even to start a new business. It allows businesses to achieve their objectives by meeting a variety of financial needs, ranging from working capital to debt consolidation and asset acquisition.
The product has been strategically planned for both individual and non-individual entities, such as self-employed entrepreneurs, traders, manufacturers, and/or businesses. It provides a variety of products, one of which is business loans. These business loans are available for both short and long terms.
The tenure of short-term loans can be extended up to 36 months, and the tenure of long-term loans can be extended up to 12 years. The loans are offered at competitive interest rates, which are charged at the lender's decision.
Why should you choose an Aditya Birla business loan?
Borrowing essential funds required to upscale operations, purchase new premises and machinery, acquire the latest technology and skilled manpower, operationalize new supply chain management systems, and drive growth through optimal asset allocation can benefit your business. If you are also amongst the one who’s planning to setup something new get a loan without putting up any collateral or pledging any assets with the unsecured business loan option.
Aditya Birla Finance offers the quickest loan approval and a hassle-free process that is entirely online. There is no need to visit the branch office; however, a pickup from your official or residential address is arranged for verification of the required documents. The loan is available to businesses that require funds to expand production or to purchase new machinery and buildings. In fact, if you are self-employed and do not have income proof, do not be discouraged, as you can still be granted a business loan. However, there are some more additional key features:-
- The business loan applicant is not required to provide any type of guarantee or security.
- The applicant must provide some basic information in order to receive instant approval.
- The applicant is not required to complete any lengthy processing that could last several weeks or months. A business loan application can be completed in three simple steps.
- Aditya Birla Finance Limited offers a very flexible tenure option ranging from 12 months to 48 months.
- An unsecured business loan can have a loan amount of up to Rs 1 crore.
- The NBFC's secured loan can range from Rs. 1 crore to Rs. 25 crore.
Types of Business Loans at ABFL?
Under SME Finance, it provides business loans to small and medium-sized businesses. Under the SME Finance category, the lender provides 5 loan products. These categories as follows:
- Secured Business Loans
The Aditya Birla Finance Limited Secured Business Loans are designed for depositors seeking affordable credit in a short period of time. The following are the characteristics of Secured Business Loans:
- The minimum loan amount is one crore rupees.
- Rs.25 crore is the maximum loan amount.
- The average turnaround time is 7 days from the date all required documents are received.
- Unsecured Business Loans
Aditya Birla Finance Limited Unsecured Business Loans are designed for depositors seeking a loan to expand their business without the need for collateral. Unsecured Business Loans have the following characteristics:
- The maximum loan amount is Rs.1 crore.
- Loan repayment terms are flexible, ranging from 12 to 48 months.
- For the duration of the loan repayment, the interest rate is fixed.
- Collateral or security are not required.
- The loan is repayable in monthly instalments.
- Working Capital Demand Loans
Aditya Birla Finance Limited Working Capital Demand Loans are designed for businesses that require short-term funding for day-to-day operations. Working Capital Demand Loans have the following characteristics:
- Working capital loans are available from ABDL for short-term business needs.
- The loan is available to businesses with monthly revenues that are less than their operational costs.
- The loan amount is available for operational purposes.
- Line of Credit
A line of credit is a process in which a lender provides credit to a borrower for day-to-day business operations. The main advantage of a line of credit is that the lender must only pay interest on the loan amount that is actually drawn or used.
- Supply Chain Financing Solutions
Invoice Discounting: Aditya Birla Finance Limited's Invoice Discounting service allows businesses to cash in their receivables. Invoice discounting has the following characteristics:
- Convert the receivables into cash as soon as possible.
- Simple procedure and quick turnaround (TAT).
- Aids in the development of relationships between vendors and partner channels.
- Contributes to increased sales by increasing the purchasing power of partner channels.
- Assurance of working capital availability for partner channels at competitive rates.
- Companies are offering cash discounts as a result of faster payment options.
Documents required for an ABFL Business Loan?
Some official requirements are required by Aditya Birla Finance Limited in order to obtain business loans. The requirement is based on adherence to central government rules and regulations. The following are the mandatory loan documents:-
- PAN Card Original
- Aadhaar Number for Verification
- Current bank statements for at least a year must be provided, as well as original and valid proof of business.
- Unsecured business loans require audited financial documents.
- Original 6-month bank statement for an unsecured business loan up to Rs. 1 crore
- Completed online application and KYC documents
The company provides all loan information and updates via a highly secure service platform known as ABFL Connect. The applicant can repay the loans via flexible and affordable EMIs as well as various repayment channels such as ECS and NACH.
Steps for getting Aditya Birla Business Loan From Loanz99?
Step 1: Visit our website loanz99
Step 2: You will find a form for a Quick apply loan.
Step 3: Enter all your required details & submit the form.
Step 4: You will be taken to successful form confirmation.
Step 5: Loanz99 team will check your eligibility & will contact you for further details
The aim of loanz99 is to help you get access to your business loan at lowest interest with instant support from the loanz99 team & our partner Aditya Birla Finance Limited. Apply for your loan today with loanz99.
FAQ's on Aditya Birla Business Loan
How can I find out the current progress of my business loans from ABFL?
You can find your current progress of your business loan by:
- Giving a missed call to this no 1800 2008 308
- SMS "LOANSTATUS" to the number 567679.
- You can also contact their support team.
Is there a processing charge for the loan? If so, what is the cost?
It completely depends on lender to decide, how much processing fees to charge.
What is the processing time of Aditya Birla business loan?
After receiving all required paperwork, ABFL typically needs 7 to 10 working days to process a loan.
Who can apply for Aditya Birla business loan?
A proprietorship, a public business, a partnership firm, and/or a private limited company may apply for Aditya Birla Business Loans.
How can I pay back my business loan from Aditya Birla Finance Limited?
You can pay back your business loan using services like RTGS, NACH, or checks that are made payable to Aditya Birla Finance Limited.