Apply for Business Loan Starting From 14.99%* 
NeoGrowth is a Non-Banking Financial Company (NBFC) registered with RBI that offers business loans for micro and small enterprises. The primary focus of NeoGrowth is to finance small business owners who use digital payment platforms for their daily business transactions. The NBFC has partnered with more than 13000 business merchants by offering business loans at attractive interest rates that starts from 18% per annum.
NeoGrowth majorly offers business loans for retailers with Electronic Data Capture (EDC) / Point of Sale (POS) machines and also for Online Sellers. They offer loans to merchants using debit or credit card swipe machines and for sellers who have their own e-commerce store.
NeoGrowth Business Loan Interest Rates – 2021
| Loan Types/Categories | Neo Cash | Neo Cash Express | Vendor Finance | Purchase Finance |
| Interest Rate | Depends on business requirements | Depends on business requirements | Depends on business requirements | Depends on business requirements |
| Loan Amount | Min. Rs. 1 lakh – Max. Rs. 75 Lakh | Min. Rs. 3 lakh – Max. Rs. 8 Lakh | Min. Rs. 10 lakh – Max. Rs. 75 Lakh | Min. Rs. 5 lakh – Max. Rs. 75 Lakh |
| Repayment Tenure | From 12 months – 36 months | Up to 500 days | From 18 months – 36 months | From 18 months – 36 months |
| Business existence | Min. 2 years | Min. 2 years | Min. 3 years | Min. 3 years |
| Min. card monthly sales | Rs. 1 lakh | NA | Rs. 5 lakh | Rs. 3 lakh |
Note: The mentioned interest rates are subject to change and depend on the sole discretion of the NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges. The processing fee is 2% onwards and foreclosure charges 3% onwards.
To compare business loan interest rate with other banks or NBFCs Click Here
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NeoGrowth Eligibility Criteria for Online Sellers
- Minimum 2 years of business experience
- Sales of more than Rs. 2 lakh/month from online channels
Features & Benefits
1. Financial documents not required
NeoGrowth offers business loans based on the current cash flow of the business. Financial documents are not required by the NBFC before loan sanctioning. Business stability and performance are checked on priority before sanctioning loan.
2. Doorstep Service
Applicants are just required to fill the application form online and relax, as they are not required to visit the office for any loan formalities. Desired cash flow shall be provided once the application form is processed and documents are verified by NeoGrowth within 3 days.
3. Minimum paperwork
The required documents are very limited that include basic proofs and bank statement. Loan application form is already submitted online, therefore no physically depositing form at the bank’s branch. However, all the required documents can be collected from the applicant’s location itself.
Documents Required for Loan Application
- Duly filled application form with passport sized photographs
- Address proof – Residence
- Business address proof
- Valid passport
- Voter’s ID card
- Aadhaar Card
- Rent Agreement
- PAN card
- VAT Certificate
- Any other document required by NeoGrowth
How to apply for NeoGrowth Business Loan?
Apply for NeoGrowth Business loan by following below mentioned steps:
Step 1: Check and compare from all the business loan options offered by leading financial institutions.
Step 2: Pick the deal that suits your business requirements by just filling the basic details as required by the lender
Step 3: After submitting the details, the bank’s representative will contact you to verify the submitted details and to proceed with the discussion on the chosen loan deal and proceed with loan formalities.
Step 4: After your loan application is approved, within defined working days the approved loan amount shall get disbursed in your mentioned bank account.
About NeoGrowth
Established in 2013, NeoGrowth is a NBFC specialized in providing business loans to retailers and online sellers. The company started operations 6 years back and have expanded to various cities that include Ahmedabad, Delhi, Chennai, Pune, Hyderabad, Mumbai, Bengaluru, Chennai, Coimbatore, Pune, Kolkata, Hyderabad, Jaipur, Chandigarh, Lucknow, Ludhiana, Surat, Mysore, Madurai, Nagpur, Indore, Vizag, Vijayawada and Vadodara.
Under RBI Act 1934, NeoGrowth has a certificate of Registration under section 45-1A.
NeoGrowth is backed by various renowned investors, such as Aspada Investment Company, IIFL Seed Ventures Fund, Omidyar Network, Khosla Impact, Accion Frontier Inclusion Fund – Quona Capital and Leapfrog Investments.
NeoGrowth partners with various industries and sectors that are as follows:
- Apparel
- Consumer durables
- Electronic items
- Food and Grocery
- Footwear & Accessories
- Gift Shops
- Gyms
- Handicraft
- Health and Diagnostic Centres
- Hotels
- Opticians
- Restaurants
Neogrowth Customer Care Number
Contact Us:
For any information email at digital@neogrowth.in or helpdesk@neogrowth.in
or call at Customer Support: 18004195565 / 9820655655
For business loan just give a missed call at 9222272881
NeoGrowth Credit Pvt. Ltd. (Corporate Office)
503, Tower 2B,
One India Bulls Centre,
841 S.B. Marg,
Mumbai – 400 013, India
Phone: +91 22 4921 9999
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FAQs on NeoGrowth Loan
Ques. Can I pre-pay my loan anytime during the tenure?
Ans. Yes, you can pre-pay the loan anytime without any extra charges.
Ques. What is the minimum and maximum loan amount I can get from NeoGrowth?
Ans. The minimum loan amount is Rs. 1 lakh whereas the maximum loan amount offered is up to Rs. 75 lakh.
Ques. How much time does it require to get a business loan from NeoGrowth?
Ans. It takes around 3-5 days for processing the documents and loan is disbursed in 24-48 hours after sanction.
Ques. How will the loan be disbursed to me?
Ans. The loan will be disbursed either in form of NEFT or RTGS.
Ques. What is the repayment tenure of business loan?
Ans. The minimum loan repayment period is 12 months and goes up to 36 months.
