What is an Unsecured Business Loan?
An Unsecured Business Loan (UBL) is a powerful financial tool for micro, small, and medium businesses in the manufacturing sector. The loan, which is suitable for a range of business needs like equipment repairs, emergency working capital, and employees’ salaries and bonuses, can be availed without any collateral.
Features and Benefits of an Unsecured Business Loan
Empowering Your Business with EFL! Looking to expand your business but worried about collateral? With EFL’s Unsecured Business Loan, you can now focus on growth while we handle the rest.
Benefits of the Unsecured Business Loan
Here are some of the benefits why you should work with us:
- No Collateral Required –
Access funds quickly without pledging your business or personal assets — ideal for urgent or short-term financial needs.
- Fast Approval and Disbursement –
Get approvals within 24 hours when proper documentation is presented, ensuring your business operations never skip a beat.
- Flexible End-Use –
Use the loan for a wide range of critical needs — whether it’s repairing essential equipment, shop or building repair works, bridging working capital gaps, or ensuring timely employee payments.
- Competitive Interest Rates –
Enjoy fair and transparent interest rates tailored to your profile.
- Short to Medium-Term Tenure Options –
Choose convenient repayment terms that align with your cash flow, ranging from a few months up to a couple of years.
- Easy Documentation –
Loans sanctioned with minimal paperwork. Just provide your basic business and financial records. The application process is designed to be fast and hassle-free.
Overview
Most small and medium-sized manufacturing businesses (MSMEs) have a delicate cash flow system where business growth, day-to-day operations, quality assurance, and payroll are all accounted for. But, the financial unpredictability in manufacturing operations cannot be ignored. Any unexpected expenses, be it equipment breakdowns, scaling requirements, employee bonuses, or working capital needs, can disrupt the financial system.
In the face of such hurdles, a low-interest, unsecured business loan from Electronica Finance Limited could make running the business easier for you.
With quick disbursal, competitive interest rates, and a fully digital application process, we empower entrepreneurs and small businesses to stay resilient, seize opportunities, and maintain operational continuity.
Our process
Applying for our collateral-free business loan is a simple process. You can apply online by following the below steps
Click “Apply Now” on the top right corner of the Machine Loan product page.
Enter details like company name, required loan amount, contact details, city etc.
Once you have rechecked all the details entered in the form, click on “Submit”.
For further process & details, our tele calling team will call you within 24-48 hrs.
What is the Eligibility Criteria for Our Business Loans With No Collateral?
In order to apply for the loan, you will have to meet certain criteria. The common Unsecured Business Loan eligibility criteria are as follows:
- Business vintage: Minimum 3 years
- CIBIL score: 725 or above
- Exclusively for manufacturing businesses/job work within EFL verticals
- The business office should be within 50 km of an EFL branch
What are the Documents Required to Avail Our Unsecured Business Loans?
To apply for the unsecured business loan and secure it quickly, make sure you have the following loan documents ready to submit:
- 3 Years Balance sheet and ITR
- 12 Months Bank Statements of all Banks
- GST Returns for the current year
- KYC – Aadhar & PAN
- Residence & Factory ownership proof
- 12 months electricity bills
FAQ's
To secure a business loan without collateral, you need a minimum CIBIL score of 725. You also need to demonstrate that your business has been operational for at least three years, accompanied by income tax returns and bank statements for the same period.
Yes, NBFCs in India offer unsecured business loans, typically ranging from ₹5 lakh to ₹30 lakhs, depending on the borrower’s creditworthiness and business profile.
You can typically obtain loans ranging from ₹5 lakh to ₹30 lakh from reputable lenders, although the maximum loan amount varies by lender.
Yes, interest is charged on unsecured loans. The rates vary based on the borrower’s credit profile and lender’s policies.
Loan repayment tenures can range from a few months to a couple of years.
Industries served
Area's we serve
- Delhi
- Faridabad
- Gurgaon
- Sonipat
- Belgaum
- Bengaluru
- Bengaluru (Bommasandra)
- Aurangabad
- Pune
- Pune- Chakan
- Pune- Khed Shivapur
- Pune- Lonikand
- Pune - Pimpri
- Kolhapur
- Mumbai - Goregaon
- Mumbai - Vasai
- Nagpur
- Nashik
- Thane
- Chandigarh
- Ludhiana
- Chennai
- Chennai(Thirumudivakkam)
- Coimbatore
- Agra
- Ghaziabad
- Kolkata
- Baroda
- Rajkot
- Surat
- Vapi
- Jamshedpur
- Indore
- Pondicherry
- Bhiwadi
- Jaipur
- Hyderabad
- Roorkee
Customer success stories
Electronica Finance standby with us and helped in financing us with an excellent support when no banks and financial institution supported us. Thank you Team EFL!
Electronica Finance understood my aspirations as an entrepreneur. With Electronica Finance all happened in lightning speed. Our company has because of EFL's support.
Electronica Finance gave us the much needed direction and finance and supported us all along the way in our journey. We owe our success to Electronica Finance.
