Starting or expanding a business often requires extra capital. Whether you’re launching a new venture, upgrading machinery, hiring staff, or managing working capital, a Business Loan can be the financial fuel you need. While traditional banks are a common source, Non-Banking Financial Companies (NBFCs) in India have emerged as powerful alternatives, offering faster approvals, flexible terms, and easier eligibility.
In this blog post, we’ll explore the top NBFCs offering Business Loans in India, their unique features, eligibility criteria, and why many entrepreneurs prefer NBFCs over traditional banks.
What is a Business Loan?
A Business Loan is a type of financial assistance provided to business owners to fund various needs such as expansion, inventory purchase, equipment upgrades, and more. Business Loans can be secured (with collateral) or unsecured (no collateral).
NBFCs in India offer unsecured Business Loans, which means you don’t need to pledge assets. This makes it easier and quicker for startups, MSMEs, and growing businesses to access funds.
Why Choose NBFCs for Business Loans?
NBFCs have become increasingly popular among small and medium-sized businesses for several reasons:
- ✅ Quick Loan Processing and Disbursement
- ✅ Less Documentation
- ✅ Higher Flexibility in Repayment
- ✅ Collateral-Free Loans
- ✅ Customized Loan Products for SMEs and Startups
Now, let’s look at the top NBFCs in India that offer reliable and flexible Business Loan options.
Top NBFCs Offering Business Loans in India
1. Bajaj Finserv
Bajaj Finserv is one of the leading NBFCs in India offering Business Loans up to ₹75 lakhs.
Key Features:
- Loan amount: ₹50,000 to ₹75 lakhs
- Interest rate: Starting from 9.75% p.a.
- Tenure: Up to 96 months
- No collateral required
- Pre-approved offers for existing customers
Eligibility:
- Minimum business vintage of 3 years
- Applicant age: 24 to 70 years
- IT returns for at least 1 year
Why Choose Bajaj Finserv? Fast online application and disbursal in just 24 hours make it ideal for urgent needs.
2. Tata Capital
Tata Capital offers Business Loans for MSMEs and small business owners with flexible EMI options.
Key Features:
- Loan amount: ₹50,000 to ₹75 lakhs
- Interest rate: Starting from 12% p.a.
- Tenure: 12 to 60 months
- Minimal documentation
- No collateral needed
Eligibility:
- Minimum turnover of ₹10 lakhs
- Minimum 2 years in current business
- Age between 25 and 65 years
Why Choose Tata Capital? Flexible repayment plans and top-notch customer service make Tata Capital a trusted choice.
3. Lendingkart
Lendingkart is a digital-first NBFC focused on making Business Loans accessible to small businesses across India.
Key Features:
- Loan amount: ₹50,000 to ₹2 crores
- Interest rate: Starting from 12% p.a.
- Tenure: 6 to 36 months
- 100% online process
- Zero collateral
Eligibility:
- Minimum business operation of 6 months
- No heavy documentation
- PAN Card, bank statements, and KYC documents required
Why Choose Lendingkart? Lightning-fast approval with disbursement in 3 days. Perfect for online sellers, retailers, and traders.
4. IIFL Finance
IIFL Finance offers secured and unsecured Business Loans with a wide network of branches across India.
Key Features:
- Loan amount: ₹50,000 to ₹30 lakhs
- Interest rate: Starts from 11.75% p.a.
- Tenure: 12 to 60 months
- Quick approval
- Multiple repayment modes
Eligibility:
- Minimum 2 years business history
- Age: 25–65 years
- Clean banking history
Why Choose IIFL? With easy branch access and professional advisors, IIFL is great for businesses in semi-urban areas.
5. Fullerton India
Fullerton India provides tailored Business Loans for SMEs and women entrepreneurs.
Key Features:
- Loan amount: Up to ₹50 lakhs
- Interest rate: Starting from 17% p.a.
- Tenure: Up to 60 months
- Simple documentation
- No collateral required
Eligibility:
- Indian citizen running a registered business
- Minimum 3 years in business
- Good credit score preferred
Why Choose Fullerton? Dedicated loan plans for female entrepreneurs and flexible loan restructuring options.
6. Hero FinCorp
Hero FinCorp specializes in MSME loans and working capital financing.
Key Features:
- Loan amount: ₹5 lakhs to ₹25 lakhs
- Interest rate: Starting from 14% p.a.
- Tenure: 12 to 36 months
- EMI or bullet repayment options
- Minimal paperwork
Eligibility:
- Business should be at least 2 years old
- Good bank transaction record
- PAN, GST, and business registration required
Why Choose Hero FinCorp? Great for automotive and manufacturing SMEs, with custom loan structures.
7. Capital Float (Axio)
Capital Float, now known as Axio, offers fully digital Business Loans specially designed for online businesses and e-commerce sellers.
Key Features:
- Loan amount: ₹25,000 to ₹50 lakhs
- Interest rate: As low as 13% p.a.
- Tenure: Up to 36 months
- Digital KYC and document upload
- No collateral
Eligibility:
- Minimum 6 months business history
- Turnover of ₹2 lakhs/month (for e-commerce sellers)
- Bank statement and basic documents
Why Choose Capital Float? Best suited for D2C brands, Amazon/Flipkart sellers, and tech startups.
Comparison Table of Top NBFCs Offering Business Loans
| NBFC | Loan Amount | Interest Rate (p.a.) | Tenure | Collateral |
| Bajaj Finserv | ₹50,000 – ₹75 Lakhs | From 9.75% | Up to 96 months | No |
| Tata Capital | ₹50,000 – ₹75 Lakhs | From 12% | 12–60 months | No |
| Lendingkart | ₹50,000 – ₹2 Crores | From 12% | 6–36 months | No |
| IIFL Finance | ₹50,000 – ₹30 Lakhs | From 11.75% | 12–60 months | Optional |
| Fullerton India | Up to ₹50 Lakhs | From 17% | Up to 60 months | No |
| Hero FinCorp | ₹5 – ₹25 Lakhs | From 14% | 12–36 months | No |
| Capital Float | ₹25,000 – ₹50 Lakhs | From 13% | Up to 36 months | No |
Tips to Get Approved for a Business Loan
- ✅ Maintain a good credit score (CIBIL score above 700)
- ✅ Keep your financial documents updated
- ✅ Ensure your business has steady monthly income
- ✅ Register your business and file GST regularly
- ✅ Build a strong digital footprint (for e-commerce businesses)
Conclusion
If you’re a small or medium business owner in India looking for funds, NBFCs provide a flexible, fast, and less-restrictive alternative to banks. Whether you’re a startup founder, a local trader, or a growing e-commerce seller, there’s a Business Loan out there tailored to your needs.
The top NBFCs offering Business Loans in India—like Bajaj Finserv, Tata Capital, and Lendingkart—provide a variety of loan amounts, interest rates, and repayment options. Choose the one that best aligns with your business goals and financial capability.
Always remember to compare offers, read the fine print, and evaluate your repayment ability before taking a Business Loan. The right loan at the right time can power your business to new heights.
