When we entered the business loan segment, we thought that most business would want to grow, and they would like to take a business loan to grow their revenues. During our market research in India, we realized that most micro and small businesses do not want a business loan. Some business owners want a small personal loan, but most of them do not want a business loan. It might sound surprising, but this is a reality in our country. Most traditional business owners still associate financing firms with traditional money lenders who could take over their assets and make them their slaves.


Most small business can be categorized in three segments – growing, matured, and distress. A loan financing company would not give a loan to a distress business, as the financing company would most likely lose the loan amount after disbursal of the loan amount. The distress companies take the route of LAP (loan against property) to get a loan. At times, they do not even qualify for LAP. Unfortunately, most matured business, the biggest segment in the market, do not want a business loan; they are content with 10-12% top-line growth rate. These businesses have stable cash flows, and they are able to cover their expenses through their cash flows. They want grow their revenues, but they do want to take a loan to grow their revenues. There are very few growing business (top line growth of 20% or more) who dream big and want to make it happen through debt.


Below are the steps to get a business loan:

  • Open your web browser on your laptop or mobile phone
  • Enter www.loanmeet.com
  • Click Get A Loan at the top
  • Fill your basic details and select “Business” as loan type

Upload your documents, and complete the loan application


Most banks and NBFCs are interested in giving loans to growing businesses that are three years old, and have a turnover of Rs. 1 Crore or more. The turnover must be recorded in Income Tax Returns, VAT, and other documents. At LoanMeet, we use cash flows and other data to analyze loan applications. We have given loans to individuals who have not filled ITR, or have VAT. Your cash flows indicated in bank statements or other documents is the most important document for us to approve your working capital loan application. We communicate your loan application status in 24 hours, and you would get funds in 3-5 days. We believe that peer to peer lending works great for business owners, and we are fast.