Neogrowth Business Loan

Neogrowth is a Non-Banking Financial Company (NBFC) registered with RBI and started their operations in 2013. You can avail a business loan from Neogrowth at attractive and flexible repayment tenure.

Segments to which Neogrowth caters to

There are two segments to which Neogrowth caters to:

• Retailers with EDC/POS machines
• Online Sellers

Business Loan for Retailer with EDC/POS machines

Features and benefits of availing a business loan by Retailers with EDC/POS machines:

• Minimum documentisation is required.
• Your current business performance will decide whether you will be eligible to receive the loan instead of how your business has fared in the past.
• The loan amount will be disbursed to your account in 3 days flat after the documents submitted by you are verified.

Eligibility criteria you will have to fulfill in order to avail a business loan for Retailer with EDC/POS machines from Neogrowth

• You must make your sales using EDC/POS machines.
• You must have a minimum business experience of 2 years.
• You must have used your credit/debit card swiping machine for a minimum of 1 year.
• You must be able to show an average monthly card sale of over Rs.2 lakh per month.

Documents required

• VAT certificate of the business
• PAN Card
• Proof of address such as passport, Aadhaar Card, etc.

Business Loan for online sellers

Features and benefits of availing a business loan by online sellers

• Minimum documentisation is required.
• Your current business performance will decide whether you will be eligible to receive the loan instead of how your business has fared in the past.
• The loan amount will be disbursed to your account in 3 days flat after the documents submitted by you are verified.

Eligibility criteria you will have to fulfill in order to avail a business loan for online sellers from Neogrowth

• You must have made sales of more than Rs.2 lakh from online channels.

Documents required

• Bank statements for the last 6 months
• PAN Card
• VAT certificate of the business
• Proof of address such as passport, Aadhaar Card, etc.

Types of loan offered by Neogrowth 

How to apply for a business loan from Neogrowth?

• Visit the official website of Neogrowth.
• Click on ‘Business Loans’. You will be directed to a new page.
• Click on ‘Apply for Loan’ which is located at the top of the page.
• Enter the details such as your name, email ID, city, phone number, business experience, and the annual turnover of your business.
• Click on either yes or no for the question ‘Do you accept card payment’.
• Click on the box ‘I am not a robot’ for security purposes. Click on the box which states that you allow Neogrowth to call on the phone number provided by you.
• Click on ‘Let’s Talk’.
• A Neogrowth representative will get in touch with you and will assist you with the process of applying for a business loan.
• The lender’s underwriting team will verify the documents submitted by you. Once they are satisfied that all the documents submitted by you are correct, the loan amount will be disbursed to your bank account.

FAQs

1. How will the loan be disbursed to my account?

The loan amount will either be disbursed via NEFT/RTGS or through cheque depending on your preference.

2. Can I pre-close my loan?

Yes, you can pre-close your loan any time without having to pay any type of penal charges.

3. I have some doubts regarding my business loan. How can I get in touch with a Neogrowth representative?

In case of any query related to business loans, you can call on the number 18004195565 or 9820655655. You can also mail your queries by sending an email to helpdesk@neogrowth.in. You can also visit the official website of the lender and under the ‘Contact Us’ section you can avail the ‘request a call back’ facility. You can also get in touch with a Neogrowth representative via Facebook and Twitter.

4. How many days will Neogrowth take in order to get my query resolved?

The company takes 7 working days to get your query resolved. However, in most of the cases, the company attempts to close the case within 2 working days.

5. In which locations can I avail of a business loan?

Neogrowth is present in all the major cities of India. The following cities where Neogrowth have their networks are Ahmedabad, Mumbai, Delhi, Bangalore, Pune, Chennai, Chandigarh, Hyderabad, Jaipur, Kolkata, Lucknow, Vadodara, Madurai, Mysore, Nagpur, Indore, Ludhiana, Vijayawada, Surat, Coimbatore and Vizag.