Poonawalla Fincorp, Tata Capital, Bajaj Finserv, IIFL Finance, and Hero FinCorp are popular NBFCs offering business loans in India. These loans can support working capital, expansion, machinery, and cash flow needs. If you are wondering which NBFC is best for a business loan, compare the loan amount, interest rate, tenure, eligibility, charges, and disbursal speed before choosing.
Top Business Loan NBFCs in India (2026)
The leading NBFCs offering business loans include:
- Poonawalla Fincorp
- Tata Capital
- Bajaj Finserv
- IIFL Finance
- Hero FinCorp
Best Indian Business Loan NBFCs Compared
|
NBFC |
Loan Amount |
Interest Rate |
Tenure |
Collateral Requirement |
Key Highlights |
|
Poonawalla Fincorp |
Up to Rs 1 crore |
Starting at 15 per cent p.a. |
Up to 60 months |
Collateral-free |
Quick approval, digital process, minimal documentation, no hidden charges |
|
Tata Capital |
Rs 1 lakh to Rs 90 lakh |
Starting at 12 per cent p.a. |
12 to 60 months |
No collateral required |
Minimum documentation, quick approval, fixed and structured EMI options |
|
Bajaj Finserv |
Rs 2 lakh to Rs 80 lakh |
14 per cent to 23 per cent p.a. |
Up to 96 months |
No collateral required |
Flexi Hybrid, Flexi Term, and Term Loan options with 48-hour disbursal |
|
IIFL Finance |
Up to Rs 75 lakh |
Up to 28 per cent p.a. |
Up to 3 years |
No collateral needed |
Paperless process, online application, quick credit to bank account |
|
Hero FinCorp |
Up to Rs 50 lakh |
14 per cent to 30 per cent p.a. |
Up to 4 years |
No collateral needed |
Quick disbursal, flexible tenure, minimal paperwork, online application |
1. Poonawalla Fincorp
Poonawalla Fincorp offers collateral-free business loans of up to Rs 1 crore for working capital, expansion, inventory, machinery, debt consolidation, and emergency needs. The interest rate starts at 15 per cent p.a., with a tenure of up to 60 months, making it useful for businesses comparing NBFC business loan interest rates. For those asking which NBFC gives business loans easily, Poonawalla Fincorp offers a digital process with online application, basic details, document upload, verification, and disbursal. Eligibility includes age between 24 and 65 years, Indian citizenship, minimum business vintage of 2 years, and annual turnover of at least Rs 6 lakh.
2. Tata Capital
Unsecured business loans can help business owners manage expansion, equipment purchase, working capital, technology upgrades, and cash flow needs. Tata Capital offers loan amounts from Rs 1 lakh to Rs 90 lakh, with interest rates starting at 12 per cent p.a. and repayment tenure from 12 to 60 months. For borrowers searching for top business loan NBFCs in India without collateral, it offers minimum documentation, quick approval, EMI calculator support, and fixed or structured EMI options. Eligibility includes 2 years of business continuity, regular profits, a monthly bank balance of Rs 5,000 or more, a CIBIL score of 675, and age between 21 and 65 years at loan maturity.
3. Bajaj Finserv
Bajaj Finserv offers business loans from Rs 2 lakh to Rs 80 lakh for working capital, machinery, staff hiring, renovation, digitisation, and business expansion. The interest rate ranges from 14 per cent to 23 per cent p.a., with a tenure of up to 96 months. Borrowers can choose from Term Loan, Flexi Term Loan, and Flexi Hybrid Term Loan options. Bajaj Finserv also offers no-collateral loans, minimal documentation, online application, and disbursal within 48 hours after approval. Eligibility includes Indian nationality, self-employed status, business vintage of at least 3 years, CIBIL score of 650 or higher, and age up to 80 years at loan tenure end.
4. IIFL Finance
For SMEs that need funds to start, grow, or expand operations, IIFL Finance offers collateral-free business loans of up to Rs 75 lakh. The loan can be used for working capital, expansion, marketing, cash flow management, and operational expenses. Interest rates can go up to 28 per cent p.a., with processing charges up to 5 per cent plus GST. The process is paperless and includes online application, KYC, document submission, approval, and disbursal. Eligibility includes at least 1 year of business operations, a healthy credit score of 700 or above, and a serviceable business location.
5. Hero FinCorp
Hero FinCorp offers unsecured business loans of up to Rs 50 lakh for working capital, expansion, marketing, assets, or staff growth. The interest rate ranges from 14 per cent to 30 per cent p.a., with a tenure of up to 4 years. Borrowers can choose from term loans, working capital loans, equipment financing, and line of credit options. Key features include minimal paperwork, quick approval, collateral-free borrowing, flexible tenure, EMI calculator support, and quick disbursal. Eligibility includes age between 25 and 65 years, Indian citizenship, profitable business vintage of at least 3 years, and a credit score of 700 or higher.
Benefits of Business Loans for MSMEs
- Helps MSMEs manage working capital, vendor payments, and daily business expenses
- Supports expansion, machinery purchase, inventory stocking, and marketing needs
- Offers quick access to funds without disturbing regular cash flow
- Many NBFCs provide collateral-free loans with flexible repayment options
- A business loan for a low credit score may be possible if income, turnover, and documents are strong
Conclusion
Business loans from NBFCs can help MSMEs and growing businesses manage working capital, expansion, equipment purchase, marketing, and cash flow needs. Poonawalla Fincorp, Tata Capital, Bajaj Finserv, IIFL Finance, and Hero FinCorp offer different loan amounts, interest rates, tenures, and eligibility terms. Before applying, borrowers should compare the total loan cost, processing fees, repayment flexibility, documentation, and disbursal speed to choose the most suitable option.
Frequently Asked Questions
- What is a business loan, and how much can one borrow?
A business loan helps fund working capital, expansion, or cash flow needs. Poonawalla Fincorp offers up to Rs 1 crore, Tata Capital – Rs 90 lakh, Bajaj Finserv – Rs 80 lakh, IIFL Finance – Rs 75 lakh, and Hero FinCorp – Rs 50 lakh.
- What can I use a business loan for?
Business loans from Poonawalla Fincorp, Tata Capital, Bajaj Finserv, IIFL Finance, and Hero FinCorp can be used for working capital, machinery, expansion, marketing, and daily operations.
- How to get an instant business loan without CIBIL Score?
Getting one without a CIBIL score can be difficult, but Poonawalla Fincorp, Tata Capital, Bajaj Finserv, IIFL Finance, and Hero FinCorp may assess income, documents, and business profile.
