3 Ways to Finance Your Small-Scale Business

  • Unsecured business loans
  • 20 Jan, 2021
  • Manya Ghosh
  •    785
A small-scale business can be easily set-up in low to medium budget investment. You should have the right source or knowledge to raise the required funds to start a small-scale venture. The financing solution should be such that it is not time consuming and easy to repay. Personal loan is one convenient way to acquire small cash loans and start quick business at a basic level.
 
Applying for small cash loans online has increased due to ease of loan application via smart phones, minimal documentation and quick disbursal. There are multiple ways in which you can acquire loans for small-scale business:
  1. Generate Self-Finance: We all are aware of our assets, savings and investments. The value of what we own is best known to us. Hence,these assets can help to generate funds for small-scale start-up, without taking any loans from external sources. No formalities of loan application and no EMIs to be repaid as self-financing gives the ability to help your small-scale set-up using personal funds.
  2. Seek Government Funding: The government of India encourages small-scale businesses to establish themselves in their respective markets. Several programs and schemes have been introduced every year in support of small companies and start-ups. Commercial campaigns like 'Stand-Up India' is introduced to back women entrepreneurs striving to begin a small-scale business. 
  3. Private Financers: Private investors are money lenders who are interested in providing consistent funds. A valid business plan and attested agreement papers are required by private financers to initiate small-scale business financing. Also, private lenders demand a sum in return for the loan provided which is similar to interest paid for personal loan.
To Avail Unsecured business loansApply Now
Rely on instant personal loan apps such as HeroFinCorp to avail small cash loans for a start-up venture. Download the HeroFinCorp app through Google Play Store and avail personal loan in few simple steps. The uniqueness of this cash loan app is that it allows you to complete the entire loan application without any physical documentation.

Salaried and self-employed individuals with a minimum monthly income of Rs.15,000/- and age limit up to 21-58years can apply for small cash loans up to 1,50,000.
 
Following are the key features of HeroFinCorp loan app:
  • Avail a maximum loan amount ranging from Rs.50,000 up to Rs.1.5 Lakh.
  • Starting rate of interest is low as 1.67% per month and affordable to pay on monthly instalments.
  • EMI calculator available on the app for easy and accurate calculation of EMIs
  • Instant loan facility directly transfers the funds in your bank account registered with HeroFinCorp
  • Low processing fee charged @2.5%
  • Collateral free loan facility; allows personal loan sanction without security
  • Customization of personal loan amount and EMI is possible with HeroFinCorp
Here is an elaborate user journey clearly defined for those willing to apply for small-scale business loan via the HeroFinCorp app:
  1. First, get the HeroFinCorp app in your phone. Download from Google Play Store.
  2. Register to create your account. Enter email id and mobile number. It is secured and verified using a onetime password
  3. Enter your current location pin code
  4. Next step will take you to the EMI calculator. Here, you can choose a preferred loan amount between 50,000 to 1.5lakh. The calculator lets you choose the principal amount, interest and tenure. Set an appropriate EMI, matching your budget. Manual EMI calculations are complex, this tool will give you 100% accurate results.
  5. Complete the loan pre-requisites, enter the Aadhar card number, Mobile number linked to your Aadhaar card, PAN card number and Bank Account affiliated to HeroFinCorp.
  6. Login to the bank account and verify details of the bank account that you use frequently for transactions.
  7. Set up your repayment or e-mandate and create an electronic signature with a single click.
  8. It may take a while to process the details. Finally, the loan amount will be credited in your bank account.
To Avail Unsecured business loansApply Now

Written by  Manya Ghosh

Find them on :

View Profile

Manya is a seasoned finance professional with expertise in the non-banking financial sector, offering 3 years of experience. She excels in breaking down complex financial topics, making them accessible to readers. In their free time, she enjoys playing golf.

Products

Personal Loan By Location

Business Loan By Location

Two Wheeler Loan By Location

Used Car Loan By Location

Loan Against Property By Location

Loan By Amount

Calculators

Application Form

Cibil/Credit Score

Quick Pay

We are one of India's fastest growing NBFCs, disbursing a loan every 30 seconds.

Download the App

Our Partners

IRDAI License No : CA0474

Validity of Current License: 22-03-2023 to 21-03-2026 Category of License: Corporate Agent (Composite)


Our Address

CORPORATE OFFICE

09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel. +91-11-49487150
Fax. +91-11-49487197, +91-11-49487198

CORPORATE OFFICE

09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel. +91-11-49487150
Fax. +91-11-49487197, +91-11-49487198


Connect With Us

Retail Customer Care Help

      1800-102-4145
  Customer.Care@HeroFinCorp.com
  9:30 AM - 6:30 PM, Monday to Saturday

CORPORATE CUSTOMER CARE HELP

      1800-103-5271
  corporate.care@HeroFinCorp.com
  10:00 AM - 6:00 PM, Monday to Friday