ABC Home
Loans
Investments
Insurance
Payments
Cards
Download ABCD

Scan to Download the App

Playstore
Appstore
1800-270-7000

Udyog Plus is a part of Aditya Birla Finance Limited

ABC Solutions

Business Loan

A business loan is a type of financing option designed to meet the capital requirements for a business to grow or expand. Udyog Plus from Aditya Birla Financial Limited has a range of financial products that help businesses access quick funds for various needs, such as expansion, inventory, operational costs, and more. The MSME business loans are helpful as they are easily available and can help you grow your small or medium business without cutting down on any essential expenses. You can apply for business loans online up to Rs. 2 Lakhs without any documents in just two minutes, making the process quick and hassle-free. Digital business loans above 2 lakhs have minimal documentation with a prompt loan disbursement process. This way, businesses can meet their capital requirements instantly, seize new opportunities, and navigate financial challenges easily.


These instant business loans are tailored to suit every business needs, and the attractive interest rates and easy repayment options make it a more convenient financing option.


If your goal is to expand and upgrade your business, think no more and apply for an instant Business Loan now!

Udyog Plus Business Loan Features

The Udyog Plus Business Loan is designed for entrepreneurs and SMEs looking for quick, easy access to funds.

Quick Loan Approvals:

The loan disbursement process is quick making it easy to meet any capital requirement for your business.

No collateral:  Avail up to Rs. 15 lakh loan with no collateral requirements

Flexible Tenure: You can choose from a range of repayment tenures that is from 12 to 36 months.

Insurance coverage: Not just financing options but you can also choose insurance coverage for your business.

Minimal Documentation: The application process requires basic financial documents, making the entire process hassle-free.

Benefits of Getting a Business Loan

Business loans come with numerous advantages that can significantly boost the growth of your enterprise, giving you a reason to be optimistic about your business's future:

Capital for Growth

One of the primary advantages of a business loan is the access to capital needed for business expansion. Whether you’re looking to expand your business or invest in advanced equipment, a business loan acts as a financial cushion for your business. These loans can support larger projects and help you take up any new opportunities without depleting your working capital or cash reserves.

Flexible Use

Business loans offer flexibility when it comes to the way you use the funds. Whether you need financing for equipment purchases, inventory restocking, marketing campaigns, or simply working capital to cover day-to-day operational expenses, business loans can help to meet a wide range of business needs. This flexibility allows you to address immediate challenges or invest in future growth with ease.

No Profit Sharing

Unlike equity financing, where you may have to share ownership of your business in exchange for capital, business loans allow you to retain complete control of your company. There is no need to give up a portion of your profits or involve outside investors in your business decisions. With a business loan, you can enjoy full ownership and the financial gains of your growing business.

Tax Benefits

One of the often-overlooked advantages of business loans is the potential tax benefits. The interest paid on business loans is tax-deductible, which means you can reduce your taxable income by the interest you pay. This tax benefit can help lower your overall tax liability, providing additional financial relief as you repay your loan

Boosts Business Credit

Business loans can help build and improve your business credit. By making timely repayments, you enhance your creditworthiness, making it easier to secure larger loans or lines of credit in the future. A strong business credit score can also help you qualify for lower interest rates and better loan terms. This further reduces the cost of borrowing and supports your business's long-term financial health.

Types of Business Loans We Provide

We offer a range of business loan products to cater to different business requirements:

Working Capital Loans: Ideal for managing day-to-day business expenses and ensuring smooth operations during cash flow crunches.

Term Loans: Long-term loans that provide businesses with funds for expansion, equipment purchase, or large capital expenditures.

Machinery Loans: Finance for purchasing or upgrading machinery and equipment, essential for manufacturing and production units.

Invoice Financing: Quick cash flow solution where you can borrow against outstanding invoices, ensuring liquidity for your operations.

Startup Loans: Tailored for new businesses, helping startups kick-start their operations with seed capital.

Who Could Be Eligible for a Business Loan?

Age: Age of the applicant should be from 21 – 65 years

Business Vintage: A business should have a minimum operational history of 1 year or above

Business credit score: A strong business credit score above 650 increases the chances of loan approval.

Business Turnover: Business turnover should be greater than Rs. 5 lakhs in the past 6 months.

Business registration: The business must be registered as a sole proprietorship, partnership, private limited company, or LLP.

Collateral Requirement: There are few loans that require collateral, however, unsecured loans of up to 15 lakhs are also available based on creditworthiness.

Step-by-Step Guide to Applying for a Business Loan

Applying for a business loan can be straightforward when you follow these steps:

  1. Determine the amount of loan you need and the purpose of the loan.
  2. Review the eligibility criteria, including turnover, credit score, and documentation.
  3. Compare various loan products and select the one that suits your business needs.
  4. Gather required documents such as bank statements, IT returns, business registration certificates, and financial statements.
  5. Fill in the application form with all required details and submit it along with the necessary documents.

Business Loan FAQs

A business loan is a financing option that allows businesses to acquire the needed capital to expand, invest in new opportunities, manage cash flow, and cover operational expenses. With Udyog Plus, businesses, especially SMEs, can access funds quickly and efficiently to support their growth without cutting down on any essential expenses.

Yes, business loans allow companies to maintain their liquidity yet seize any growth opportunities and invest in assets without disrupting their cash flow.

Udyog Plus is specifically designed to cater to SMEs, offering easy access to loans with minimal documentation and fast approvals. You can get collateral-free loans for up to Rs. 15 lakhs and no documentation loan for up to Rs. 2 lakhs.

Yes, Udyog Plus allows part payments, giving businesses the flexibility to manage their loan repayment according to their cash flow. You can also choose a loan tenure of 12 months to 36 months to repay your loan.

Businesses such as sole proprietorships, partnerships, private limited companies, and SMEs are eligible to apply for a loan under Udyog Plus. These loans are tailored to meet the specific financial needs of these business entities.

The loan limit under Udyog Plus can go up to ₹15 lakh for MSME, depending on the borrower’s eligibility and business requirements. The final loan amount is determined based on the company's financial profile and creditworthiness.

Udyog Plus is focused on businesses, so salaried individuals are not eligible unless they are business owners or partners in an enterprise seeking funds for their business needs.

To apply for a startup loan under Udyog Plus, businesses need to submit basic financial documents, such as registration details, bank statements, and IT returns. The application can be submitted online or at a branch for quick processing.

Yes, Udyog Plus has foreclosure charges if the loan is paid off before the tenure ends. However, the charges are competitive and transparent, allowing businesses to plan accordingly.

Udyog Plus requires a minimum CIBIL score of around 650 for business loan eligibility. However, a higher CIBIL above 650 increases your chances of loan approval.

Applicants can check their loan status online through the Aditya Birla Finance app or by contacting the customer service team. Udyog Plus ensures timely updates regarding loan approval and disbursement.

Yes, Udyog Plus business loans are flexible and can be used for working capital management, ensuring that businesses have the funds needed for day-to-day operations.

Udyog Plus offers both secured and unsecured business loans. For unsecured loans of up to Rs. 15 Lakhs, no collateral or guarantor is required, making it easier for SMEs to access funding.

Udyog Plus offers various types of business loans, including working capital loans, term loans, equipment financing, and loans for business expansion, all tailored to the unique needs of SMEs.