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Top 5 Business Loan Apps in 2024: Everyone in this world has to do something to earn, and the majority of people depend on jobs for a living. But on the other hand, business is the thing that people opt for a lot, mainly due to the self dependence that comes with being their own boss.
While some get the luxury of having family businesses, they get to continue further. But there are also those who want to take their business to a further level, or those who want to start a business from scratch, and the thing that keeps them away from this dream of having their own business is the funds required to run a business.
People who don’t have the funds to start their business often try to find methods to get funding, and in the modern era, loans have become a prominent thing that they use for their businesses. While bank loans have been ongoing for ages, the advancement of technology has made things way simpler, as people now get loans from the comfort of their homes.
Nowadays, interested people can easily get business loans through different kinds of loan apps. But as there are numerous options to choose from, everyone gets really confused about choosing the right app. So, to clear out this whole confusion, and give you the best possible options to choose from, here are the top 5 business loan apps in 2024 that you can use to get easy loans.
5. Lendingkart
In our list of the top 5 business loan apps, the first app we are going to talk about is LendingKart. Founded by Harshvardhan Lunia, LENDINGKART Finance Limited, which was formerly called Aadri Infin Limited, is a non-deposit-taking NBFC that provides SME lending in India. The company’s objective of transforming small business lending by making it convenient for SMEs to access credit easily has given them a lot of success in recent years.
LendingKart does not focus on the customer’s old records to evaluate the credit risk profile of a potential client, and it makes it easier for business owners to get loans here. The company has a dedicated app named LendingKart: Business Loan App, and it shows how well they take care of this field.
Their app already has over 1 million downloads on the Play Store, and it proves that they’ve won the trust of customers through their easy loans Anyone who wants to take a loan from their app should also not worry about any problems after their loan, as this firm offers 24*7 customer service support.
If you are a potential business owner who wants to take a loan to expand their business or start a new one, LendingKart is one of the best available options. You can get a suitable business loan, as per your requirements, pretty easily through an app, and that’s the best thing about this mobile application.
4. Small Business Loan: Tradofina
The next name on our list of the top 5 business loan apps is Tradofina. Owned and operated by Arnold Holdings Ltd., which is also the lender for Tradofina, it is registered with the Reserve Bank of India. Listed on the Play Store as Small Business Loan: Tradofina, this app is basically a digital credit platform that is inspired by the Government of India’s Vocalforlocal & MakeInIndia initiatives.
The platform has been designed with the objective of empowering small businesses and their localised supply chains through loans. Tradofina offers loan opportunities up to ₹2 lacs for microbusiness owners to help them establish their businesses. What makes them a great place to get business loans is the easy procedure they have for their customers.
Business owners can download the app, and register themselves pretty easily on the platform. Once they do so, they need to fill out the application form, in which the basic information of the business owner is required to be submitted. When you complete these steps, you just need to wait slightly for approval, and your business loan will be soon approved.
Tradofina already has over 5 million downloads on the Play Store and also has a 4.5* rating on the platform, which shows customer satisfaction. If you also want to get an instant loan for your business, this application is surely a worthy option for you, as you can complete the entire procedure within minutes, and the money will be transferred to your bank.
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3. Tata Capital Loan App and Wealth
The next name on this list is highly reputed, as it is related to the globally recognized Tata Group. This group’s Tata Capital Loan App and Wealth application is the second-last option on this listicle for business owners who are looking to get a business loan from a top app in the domain. The reason why it makes it to this top 5 article is because it is an instant loan app and a one-stop solution for all.
The interface of this app is very user-friendly, and that’s why it is a great platform even for those individuals who aren’t experts in using tech devices. In addition to this, the EMI calculator facility on this app makes it extra special for users, as it helps them plan the whole money return procedure accurately.
Similar to Tradofina, this app has also been downloaded over 5 million times, and the customer reviews about their services are pretty positive too. Looking at all these benefits, it’s safe to say that Tata Capital Loan App and Wealth is a great choice for those who want to get an easy and instant business loan in 2024.
2. KreditBee
KreditBee is another great option for people who want an easy business loan. This app has been trusted by over 11 crore Indians, and it is a testament to the fact that this application is fully trustable for customers. This platform facilitates loan transactions between borrowers and NBFCs and banks, and it does so in 100% online mode.
All loan applications made on this app are approved and sanctioned by the NBFCs and banks that are registered with the RBI, and every single point of detail gets clearly stated during the application itself so that there is are no kind of issues afterwards the completion of the process. This app is an Instant Loan provider, and eligible users can apply for loans up to ₹ 5 Lakhs as per the requirement.
What makes KreditBee better than a lot of the applications available on the market is that the documentation needed here is minimal, and the entire process takes an average of 10 minutes. Also, the KreditBee: Instant Loan App has over 50 million downloads on the Play Store, which clearly shows the quality of this app.
People who want to take a business loan from this app can apply for a loan worth as much as INR 4 lakhs, and the app doesn’t have any hidden charges for it. All these aspects make KreditBee one of the best business loan apps in 2024, and you can surely give it a go if you want to get a loan for your business.
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1. Loan Assist- Quick Bank Loans
Last but not least, the final name on this list of top 5 business loan apps is an app that has been launched by the highly popular HDFC Bank. Named Loan Assist: Quick Bank Loans, this application is a trustworthy one for people who are interested in taking a business loan in 2024, and that too without any problems.
While the platform offers loans such as home loans, car loans, and two-wheeler loans, business loans are arguably the most popular service on this app. A big reason behind the trust people have shown in this application is its association with HDFC Bank, as it has made it one of the biggest names among loan apps.
With over 10 million downloads on the Google Play Store, Loan Assist—Quick Bank Loans is surely a great option for people. But these aren’t the only reasons why you should consider it for a business loan, as the customer service and after loan support for the customers of this application are also equally great. Due to all these reasons, this app is among the top 5 business loan apps in 2024.
Top 5 Business Loan Apps in 2024: Conclusion
We’ve mentioned these top 5 business loan apps after a deep evaluation of all different aspects of their services. It includes the procedure they have for the loan, their documentation process, money transfer time, and everything else. After taking into account all these factors, we’ve named these five apps.
But it’s important to remember that opinions vary, and someone else might have other options too. So, it also depends on what preferences you have and what you expect from the app after the loan, as it makes a huge change in the rankings. Thus, make sure that you get detailed information about everything about an application before taking a business loan from them to take your business to new heights or start your own new business.
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