Neogrowth provides business loans without collateral for both online and offline businesses like retailers, vendors, manufacturers, distributors, traders, and dealers. They offer different types of loans such as NeoCash, NeoCash Express, NeoCash Insta, NeoCash Emerger Plus, Vendor Finance, Accelerator, Purchase Finance, and Supply Chain Emerger Plus. For NeoCash Business Loans, which are for small and medium enterprises with Point of Sale (PoS) machines or online sales, borrowers repay the loan directly from their online sales or sales made through their PoS machines. Neogrowth also offers additional loans to existing borrowers who have been repaying on time.
Highlights of Neogrowth Business Loans |
|
|---|---|
| Interest Rate | 15%-39.6% p.a. |
| Loan Amount | Up to Rs 75 lakh |
| Processing Charges | Up to 5% |
| Tenure | Up to 7 years |
*Terms and conditions apply.
| Table of Contents | ||
|---|---|---|
| Neogrowth Business Loan Interest Rates | ||
| Fees & Charges | ||
| Types of Neogrowth Business Loans | ||
| Eligibility Criteria for Neogrowth Business Loans | ||
| Loan Type | Interest Rates (p.a.) |
|---|---|
| NeoCash Retail | 18%-39.6% |
| NeoCash and Vendor Plus Loans | 15%-25% |
| Vendor Finance | 18%-30% |
| Accelerator | 23.99%-26.99% |
Also read: Best Business Loan Interest Rate
| Loan Type | Processing Charges | |
|---|---|---|
| NeoCash Retail | Up to 5% of loan amount | |
| NeoCash and Vendor Finance Plus Loans | 2% of loan amount | |
| Vendor Finance | Up to 5% of loan amount | |
| Accelerator | Up to 3% of loan amount | |
Also read: Best Business Loan EMI Calculator
NeoCash
Product: Neogrowth provides NeoCash business loans, which are short-term loans for small and medium enterprises that use point of sale machines or make sales online.
Loan Amount: Rs 1 lakh-Rs 75 lakh
Tenure: Up to 3 years
NeoCash Insta
Purpose: NeoCash Insta Loans are for individuals involved in small and medium enterprises, providing instant online approval and quick disbursal of funds.
Loan amount: Up to Rs 8 lakh
Loan tenure: 500 days/720 days
NeoCash Express
Purpose: NeoCash Express Loans are quick loans designed for retailers, with simple features and an easy application process.
Loan amount: Rs 9 lakh-Rs 20 lakh
Loan tenure: Up to 2 years
Neocash Emerger Plus
Purpose: Neocash Emerger Plus are secured business loans for retailers that are backed by residential, commercial, industrial, warehouse, or vacant land property. Additionally, it provides options for balance transfers and top-ups on existing loans from other financiers.
Loan amount: Up to Rs 50 lakh
Loan tenure: Up to 7 years
Neogrowth Accelerator
Purpose: Accelerator business loans from Neogrowth are term loans for manufacturers, traders, dealers, distributors, and service providers who are registered for GST. Eligibility for Neogrowth Accelerator Business Loans is determined based on the KYC and banking information of applicants, not their financial records.
Loan Amount: Rs 15 lakh, Rs 20 lakh, Rs 25 lakh
Tenure: 2 years-30 months
Neogrowth Vendor Finance Loan
Purpose: Neogrowth provides Vendor Finance, a loan option for vendors, suppliers, service providers, and manufacturers who work with big companies, ones with a turnover of over Rs 250 crore.
Loan Amount: Rs 25 lakh-Rs 75 lakh
Tenure: Up to 3 years
Neogrowth Supply Chain Emerger Plus
Purpose: Neogrowth provides the Supply Chain Emerger Plus loan for traders, manufacturers, or service providers using their residential, commercial, industrial, warehouse, or vacant land as security. Applicants can also use this loan to top up or transfer existing loans. Eligibility for the Neogrowth Supply Chain Emerger Plus loan is based on the applicant's liquid income or Income Tax Returns (ITR).
Loan Amount: Rs 15 lakh-Rs 50 lakh
Tenure: Up to 7 years
Neogrowth Purchase Finance
Purpose: Purchase finance is a loan option for traders, manufacturers, and service providers who buy goods and raw materials from big companies or work as partners with them. Neogrowth also provides a PayLater Open feature to applicants of Purchase Finance, where 50% of the loan amount is given as a term loan, and the other 50% is offered as a credit limit.
Loan Amount: Rs 15 lakh-Rs 75 lakh
Tenure: 2-3 years
Also Read : Best Business Loan Documents Required
Also read: Best Business Loan Eligibility
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