NeoGrowth Business Loan

NeoGrowth is one of the leading NBFCs in India that takes caters to the financial needs of Small and Medium Enterprises (SMEs) by offering them NeoGrowth business loans. It provides businesses with a range of loan products including retail finance and supply chain finance. These loans will help businesses and entrepreneurs by providing solutions for working capital shortages and cash flow challenges.

Businesses can get loan amounts of up to ₹75 lakhs with repayment tenures of up to 36 months. It also offers quick and collateral-free business loans ensuring that SMEs have the resources they need for growth and operational success.

NeoGrowth Business Loan Interest Rate

When looking to get financial support, it is important to understand the interest rates involved. NeoGrowth business loans offer attractive interest rates and transparent charges while ensuring that SMEs can access funds without any financial strain to support their growth and expansion.

The interest rates offered by NeoGrowth are given below:

NeoGrowth Business Loan Calculator

SMEs should know the potential EMI they need to pay before taking a business loan. It will help them understand their cash flow management, and financial planning, to avoid overborrowing, budgeting, and making the wrong decisions. To make it easier for businesses to understand their repayment capacity, the NBFC offers a NeoGrowth business loan calculator.

The online business loan EMI calculator is easy and simple to use, all you need to do is enter the loan amount, interest rate, and tenure. You will then get the estimated EMI amount along with the interest payable and a unique feature showing the daily repayment amount you need to make.

Types of Business Loans by NeoGrowth

NeoGrowth offers SMEs two types of financing; Retail Financing and Supply Chain Finance, which are further classified into different types. Making funding easier to personalize the business loan terms to the needs of the borrowers. Here are the different types of business loans by NeoGrowth along with their unique features and benefits:

NeoGrowth Retail Finance

Retail finance consists of four types of loans including NeoCash, NeoCash Express, NeoCash Insta, and NeoCash Plus. Here are the different loan types in detail:

• NeoCash: NeoCash loan is specifically designed for retailers who are looking for flexible and collateral-free business loans. Retailers can also enjoy quick processing of the loan with competitive interest rates giving them the chance to manage working capital, expand inventory, and seize growth opportunities effectively. Here are the details of the loan:

ICICI HFC Cumulative Deposit FD Interest Rates:

• NeoCash Express: NeoCash Express is a collateral-free loan for Retailers who are looking for a simplified digital application process. The unique features of the loan includes flexible repayment options that businesses can choose from whether it's daily, weekly, or fortnightly. This ensures the repayment aligns with the SMEs’ cash flow cycle making it easy for them to repay the loan. This loan is given to provide retailers with quick access to funds, allowing them to enhance production, expand operations, and the ability to address urgent financial needs. Here are the details of the loan:

• NeoCash Insta: NeoGrowth offers NeoCash Insta business loans for retailers who are looking for a collateral-free loan with a simplified digital application process. This loan offers a daily repayment method for businesses to easily manage repayment and ensure consistency. Here are the details of the loan:

• NeoCash Plus: NeoCash Plus is a secured NeoGrowth business loan for retailers who want substantial financing. With the loan, you can get up to 100% of their property’s value. It offers businesses the opportunity to consolidate unsecured debt, which will reduce the overall installment amount. Businesses can secure loans against any type of property, including residential, commercial, industrial, warehouse, or vacant land. Additionally, the loan supports balance transfers and also top-ups of existing loans with other financiers. The details of the loan are as follows:

NeoGrowth Supply Chain Finance

Supply chain finance consists of four different kinds of financing, these are Vendor finance, Accelerator, Purchase finance, and Supply chain plus:

• Vendor Finance: Vendor finance is a loan designed for vendors, suppliers, manufacturers, and service providers who are supplying to large corporations with a turnover of over ₹500 Crores. Enabling them to manage cash flow, fulfill large orders, and sustain their operations efficiently. This financing option offers easy sanctioning based on the supplier's business relationship with these large corporations. Offering them simplified loan processes and business loan terms that are personalized to meet their specific needs. NeoGrowth's Vendor Finance ensures that businesses have the necessary financial support to maintain strong supply chains and grow alongside their corporate clients. Here are the details of the loan:

• Accelerator: Accelerator is a loan designed specifically to meet the financial requirements of GST-registered manufacturers, distributors, traders, dealers, and service providers. It is a collateral-free loan where eligibility is determined based on the business's banking history, thereby ensuring quick and easy access to funds. Here are the details of the loan:

• Purchase Finance: This business loan is exclusive for existing NeoGrowth Supply Chain customers providing them with a credit limit facility to meet their needs. The loan offers several benefits such as paying interest only on the funds utilized along with a seamless digital process for paying vendors by uploading invoices electronically. It is also a cost-effective loan as there are no processing fees involved. Here are the details of the loan:

• Supply Chain Plus: This is a secured business loan that is specifically for traders, manufacturers, and service providers. The loan can be taken for up to 100% of their property value, which includes residential, commercial, industrial, warehouse, or vacant land properties. The loan offers these businesses the opportunity to consolidate unsecured debt, balance transfers, and top-ups of existing loans with other financiers. The details of the loans are as follows:

NeoGrowth Business Loan Eligibility

NeoGrowth has the following eligibility criteria for business loans, including:

• Resident Indian citizens
• Your sales must be processed through EDC/POS machines.
• Your business should have at least 2 years of operational experience.
• You need to have been using your credit/debit card swiping machine for at least 1 year.
• With an average monthly card transaction volume exceeding ₹2 lakh.

NeoGrowth Business Loan Documents

Several documents are required to get a loan from NeoGrowth, these are:

• Business VAT certificate
• PAN card of the business
• Address proof of the business

Features & Benefits of NeoGrowth Business Loan

NeoGrowth business loans offers SMEs many features and benefits, these are:

Flexible Loan
Amounts

Get loan amounts
of up to ₹75 lakhs.

Various Loan Types

NeoGrowth offers you
various loan types that
can be personalised to
your needs.

Attractive Interest
Rates

Enjoy interest rates
ranging between 13% to
18% p.a.

Quick Processing

Get the finances
you need at the right
time with NeoGrowth.

Flexible Repayment
Terms

Repay your loan daily,
monthly, fortnightly or
monthly.

Flexible Loan
Options

You can get both
collateral-free loans as
well as secured loans.

If you want to compare business loans from other lenders, check for different business loan options from various lenders from the links given below:

Steps to Apply for a Business Loan with Buddy Loan

convenient for you to get the funds you need. All you need to do is follow the simple steps given below:

• Step 1: visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
• Step 2: open the Business Loan Application Page.
• Step 3: enter your mobile number and input the received OTP.
• Step 4: specify the desired loan amount.
• Step 5: provide your personal email.
• Step 6: choose ‘Business Loan’
• Step 7: business proof: choose whether you have a proof for your business (Yes/No).
• a. If "Yes":
• Provide business details such as Company Type, Name, Address, Years in Business, and Nature of Business.
• Enter personal information: Date of Birth, Gender, Highest Qualification, PAN Number, First Name, and Last Name.
• Input communication details: Residence type, Years at the current address, and address Pincode.
• Enter Income and Bank details, including monthly income, preferred bank, and Credit Card preference.
• Finally, click ‘Submit’ to complete the business loan application.
• b. If "No":
• Choose your profession type.
• Enter personal information: Date of Birth, Gender, Highest Qualification, PAN Number, First Name, and Last Name.
• Input communication details: Residence type, Years at the current address, and address Pincode.
• Enter Income and Bank details, such as monthly income, preferred bank, and Credit Card preference.
• Finally, click ‘Submit’ to submit your business loan application.

Besides NeoGrowth Finance, you can check out more on business loans from the links provided below: