There are two main types of Startup business loans.
One is a short term working capital loan or a line of credit – used for paying salaries, or other expenses needed to maintain the funds for the day to day running of the business. This loan may require no collateral, and give an initial interest-free period.
The other kind is an Equipment Financial Loan – which is used to fund expansion or growth. It is a longer-term loan and would require the business as collateral. It is used for purchasing heavy or expensive machinery. At SMFG India Credit, we offer collateral free business loans upto INR 75 Lakhs*. For amounts greater than that, we offer business loans that can be secured against property.