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To help micro, small and medium enterprises (MSME) mitigate the stress caused by the lockdown, the government of India announced a Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs under the Aatmrbhar Bharat Abhiyan package valid till March 21, 2021.In addition to this, MSME's looking for timely financial stimulus can avail of a collateral-free offered by Bajaj Finserv, through its lending and investment arm Bajaj Finance Limited. This small business loan provides businesses that want to rejig their operations with the necessary finance in a quick and hassle-free manner.With funding of up to Rs. 45 lakh offered through a 24-hour approval process via an online mode of application, Bajaj Finserv, through this tailored business loan, offers hassle-free monetary support.For more on getting this smart business loan for SMEs, read on.Easy application and quick disbursalApplicants can apply for a business loan online to avoid physical queues and delays. All they need to do is:* Fill the with personal and financial details* Upload relevant documents* Receive a business loan approval as well as loan disbursal within 24 hours, provided their documents and offer is in order.Once Bajaj Finserv completes the necessary eligibility and credit checks, the online business loan will be disbursed to the applicant's account, making it the ideal source of finance when one needs funds in the event of an emergency, or for a sudden big project.As an existing customer of Bajaj Finserv, one can simply submit their name and contact information to and avail it instantly online. This speeds up the loan process even more, and the money is transferred to their account faster.Small business finance of up to Rs 45 lakhDuring times of sluggish growth, business owners often look to revamp their business in some aspect or the other. For instance, they may invest in marketing to capture a larger customer base, purchase the latest software or machinery to do more with less, hire skilled talent, promote research, allocate resources prudently, and more.All these initiatives require funding, and the Bajaj Finserv SME Loan provides business owners up to Rs. 45 lakh, without demanding any collateral. These unsecured business loans ensure businesses can pay for several overheads, purchase machinery, meet their working capital requirements and invest for the future.Variable tenure for easy repaymentTo ensure repayment does not become a burden on the small business's day-to-day operations, Bajaj Finserv offers lengthy, flexible tenures. A business can repay the small business loan in 12 to 84 months, as per its capability. For ease of financial planning, business owners can use the online and ascertain the worth of prepaying with the .Simple eligibility and minimal documentationBajaj Finserv approves new business loans on simple eligibility terms. As per its business loan eligibility criteria, a business owner can obtain a loan if he or she:* Is aged between 25 and 65 years* Owns a business running for at least 3 years* Has a credit score of at least 750* Has filed Income Tax Returns for the business for a minimum of 1 yearThe straightforward eligibility terms mean that securing a small business loan for new business ventures is a hassle-free possibility.To get the SME loan, business owners need to only submit a minimal set of documents which include:* Identity proof* Address proof* Financial documents* Business ownership/vintage proofFlexi loan facility for added valueBusiness owners desiring flexibility with their small business loan can opt for the Flexi Loan facility. It allows businesses to borrow and prepay as per their dynamic needs and working capital requirements. One can make multiple withdrawals from the loan, while only paying interest on the amount withdrawn. Part-prepayments can be made at no extra cost and there is an option to pay interest-only EMIs through the initial part of the tenure and the principal, later.With smart use of the SME Loan, owners can greatly improve their business turnover and gain a firm footing in their market. For easy access to the small business loan, apply online.This story is provided by BusinessWire India. will not be responsible in any way for the content of this article. (/BusinessWire India)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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