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Thinking of taking out a loan for business? These 5 online platforms will help | loan

Thinking of taking out a loan for business? These 5 online platforms will help

Thinking of taking out a loan for business? These 5 online platforms will help

It takes capital to start a business and run it smoothly, and many small and medium-sized businesses rely on business loans for capital. However, traders often have difficulty in finding the right loan scheme and availing the benefits of that loan. And various fintech platforms are making it easy for this small business to get a loan.

All of these platforms offer a wide range of short-term small business loans. Compare the various small loans and find the most suitable loan scheme according to your needs.

Here are five fintech platforms that will help you find low-interest business loans at low interest rates.

1. Myloncare

This online marketplace communicates with the borrower the appropriate lender. I.e. finds the most profitable loan scheme for him according to the borrower’s needs and credit profile and associates him with that lender.

People from different parts of India can take advantage of this platform. Apart from business loans, home loans, personal loans, land purchase loans and gold loans can also be obtained through this platform.

From different types of loans, the borrower can choose the loan he needs and can contact the lender. The platform also provides an opportunity to compare the gold loan schemes of various leading banks and NBFCs, so you can choose the gold loan that is best for you.

2. Cointribe

CoinTribe is a digital marketplace designed specifically for small and medium businesses. Through this platform it is easy and fast to get small business loan without any collateral. Businesses with an annual turnover of Rs 1 crore to Rs 100 crore can avail this facility.

Cointribe works in partnership with various leading banking institutions and NBFCs. As a result, getting a loan is easy and hassle-free. Loans can only be obtained with information about business and business important people and business bank statements.

3. Hapilons

Hapilons arranges loans according to the specific needs of the customers. Suitable for small business loans, this platform can be borrowed for only Rs 2,000, for only 30 days.

Hapilons seeks to revolutionize the economy by meeting the capital needs of small and medium enterprises. They want to make sure that small businesses do not have to stop for lack of capital. Traders can borrow as much as they need. Hapilons arranges the loan in easy installments and at low interest rates.

As well as Hapilons brings a fancy loan. A completely free loan for 7 days is available in this project called Trial Pack.

Read more: 35 Small Business Ideas That You Can Start Today!

4. Moneytap

App-Based Creditline MoneyTap. MoneyTap is the first credit line idea in India. Loans up to Rs 5 lakh can be obtained from the bank without any collateral or interest. It is possible to borrow from Rs 3,000 to Rs 5 lakh using the MoneyTap app and it has to be repaid in easy installments within 2 months to 3 years. Only borrowed money will have interest on it and that rate starts from only 1.06 percent.

Any employee can use this Android app and record all their information in just a few minutes. The app will then connect you securely with the bank and your loan may be approved instantly depending on your personal loan history.

5. Landbox

NBFC Landbox licensed by the Reserve Bank of India. Landbox removes intermediaries from commercial banks, depository institutions, etc. and puts the borrower in direct contact with the lender. As a result, on the one hand the interest rate is reduced and on the other hand the lender can also make more profit.

This platform is highly suitable for small business loans. Through this platform, borrowers from different socio-economic backgrounds can interact with both institutional and retail investors.

In addition to the top five platforms, there are multiple online marketplaces that are making it easier for small businesses to borrow. A few more such platforms like Incred Finance, Lontap, Cubera, Faircent etc.

If you also want to speed up your business with a loan or start a new business then you can find a loan suitable for your needs through any of these platforms.

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