GST Business Loan

What is a GST Business Loan?

A GST Business Loan is a type of credit available to all micro, small, and medium enterprises (MSMEs) registered with the GST council. Loan amounts of up to Rs. 50 lacs are available based on the GST returns of these enterprises.

MSMEs in India have always faced difficulties getting working capital. Taking a GST loan allows them to access the required funds for business expansion, infrastructure development, etc. This financial support is available from almost all leading financial institutions in the country at comparatively low interest rates.

Such loans can be availed with minimal documentation and do not require any form of collateral (in case of unsecured), allowing SMEs to arrange financial support quickly and easily. With these features, GST loans are the answer to the financial needs of SMEs.

GST Business Loan Details

Customized Interest Rates	Starting @1.5% PM
Processing Fees	~ 4%
Loan Tenure	Upto 36 Months
Pre-closure Charges	4%
Loan Amount	Upto ₹50 Lacs
Installments	Monthly

Eligibility Criteria to Apply for GST Business Loan

All lenders have their specific set of requirements that GST-registered businesses must fulfill in order to qualify for the loan. These criteria vary among lenders but generally include factors such as credit history, nature of business and most importantly, business GST returns.

Here is the general criteria that companies must fulfill to be eligible for a GST business loan:

Registered Business:

Your enterprise needs to be a registered business organization to be eligible for loan against GST .

GST Registered & Active:

You also need to have your business registered with the GST Council and must have active status to be eligible.

Business Vintage and Turnover

To be eligible for a GST gst loan scheme, lenders commonly check how old a business is and its annual turnover. For unsecured loans, business vintage should be at least 1 year.

Borrower’s Age:

Lenders often have an age limit criteria between 22 to 65 years when approving business loans.

Features of GST Based Business Loan from Indifi

Collateral Free

Indifi has an online process of loan application that guarantees minimum documentation and quick disbursal of payment. We run the profile of our applicants through sophisticated algorithms that nullify the need for collaterals. Therefore, you can get a business loan on GST without collateral to fulfil your immediate needs.

Swift Disbursal

We follows a swift and hassle-free loan disbursal process. You apply for business loan and get it processed within 48 to 72 hours for an amount up to 50 Lacs.

Flexible Repayment Options

For small businesses seeking flexible repayment structures to meet their operational requirements, Indifi has flexible repayment options at low-interest rates starting from 1.5% per month. Companies also enjoy instant business loans by applying at Indifi.

Customized Loans

There is no one-size-fits-all model when it comes to business loans. Indifi has tailored solutions with the help of multiple lenders to meet the dynamic funding requirements of every company.

Low-Interest Rates

The GST business loan interest rate rolls-out at low , starting from 1.5% per month. However, the borrower also needs to pay upto 3% processing fee.

Transparent Processing

From application to EMI repayment, you can apply for a business loan on GST return online at Indifi. Thus, there is no scope for finding any hidden charges during the loan repayment.

How GST Loan Schemes can Help MSMEs in Getting Funds?

Here are some simple reasons which will help you make the decision faster:

Working Capital for Business Expansion: Companies can support its day-to-day operations, growth and expansion.

Funds for New Infrastructure or Equipment: Businesses can make capital investments that are essential for efficiency of operations.

Better Cash Flow Management: Companies can ensure liquidity for the business and optimize inflow and outflow.

Funds for Special Needs: Companies can allocate this for exceptional and sudden circumstances and emergencies.

Access to New Technology: Companies can acquire innovative tools, systems and software software to improve productivity.

Funding for New Project Opportunities: Organizations can initiate and support the implementation of new projects or ventures.

Franchise Financing: Companies can purchase or operate franchise businesses.

Perks of GST Loans from Indifi

Here are some simple reasons which will help you make the decision faster:

Quick and Simple

Indifi follows a complete online business loan approval process with less documentation. It spares you tedious paperwork and long waiting queues making the entire process quick and simple.

Multiple lenders

Indifi brings multiple lenders and partners together, along with their own lending arm. Their prime motive is to fill the gap and help businesses in accessing unsecured loans.

Best Fit

The expert professionals will help you in getting the best custom-made business loan ever. The loan experts assess all the business capital needs and design a business loan plan accordingly.

Flexible and Transparent

Indifi believes in complete transparency in operations. You can get all the GST loan related information at indifi.com, upfront. Last but most important, we do not have any hidden charges.

Required GST Based Loan Documents Checklist

Who can Take a GST Business Loan?

Here are the types of entities that are eligible for a business loan in India:

Private Limited Company

Partnership Firms

Sole Proprietorship Company

The collateral-free loans allow access to unrestrained cash flow for small businesses. With these funds, companies can leverage multiple benefits.

How to Apply for GST Loan Online ?

The application process for a business loan is free from unwanted delays and unnecessary paperwork across india. You can apply for a business loan online by fulfilling these requirements for a business loan.

Submit Your Online Application

Fill in your basic and company details. Mention your fund requirements and prepare the essential documents for submission.

Attach Your Documents & Banking Statement

Upload the scanned copies of the documents needed for GST business loan like proof of business (GST registration certificate, Trade license, Certificate of incorporation, Business PAN, etc.), ID proof of the applicant, GST return invoice, bank statements, partnership deeds, etc. as required.

Wait for Approval

Once the correct documents and the filled application form are duly submitted, Indifi will process your application and send the approval within 72 hours. After getting approval, the loan a mount will be disbursed immediately in your bank account.

How to Improve the Chances of Getting a Business Loan on GST Number?

With 80 active partners across 400 cities, Indifi has disbursed more than 1,00,000+ loans to deserving companies. Here are some tips to bag the best business loan in India or improve the odds of getting your require business loan approved -

• Cross-check the list of required documents and ensure that you upload the correct documents. Your application could be rejected, or the approval process might be delayed if the images are unclear.

• Eliminate unnecessary business expenses (or overhead expenses) to get a stable cash flow. When the debt service coverage ratio is balanced, lenders are more likely to approve your loan application

• Stable banking/turnover

• Good credit score

HOW DO I APPLY FOR A LOAN?

Applying is quick and easy and typically takes less than 10 minutes. We ask for basic information about you and your business. Securely connect your bank information so we can assess your business without long forms, waiting in line or having to dig up old paperwork. Your association with business services who we have partnered with helps get you more fitting loans.

WHAT DOCUMENTS ARE REQUIRED TO AVAIL A LOAN?

We need your

1. Pan Card
2. Aadhaar Card
3. Address proof of self and firm
4. Business registration proof
5. Bank Statement last 6 months.
   In case of loan more than 15 lacs, latest ITR