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NeoGrowth Business Loan

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Updated: 27-02-2020 06:07:34 AM

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.

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 - 2020
NeoGrowth Eligibility Criteria for Online Sellers
Features & Benefits
Documents Required
About NeoGrowth
FAQs

NeoGrowth Business Loan - 2020

Loan Types/CategoriesNeo CashNeo Cash ExpressVendor FinancePurchase Finance
Interest RateDepends on business requirementsDepends on business requirementsDepends on business requirementsDepends on business requirements
Loan AmountMin. Rs. 1 lakh – Max. Rs. 75 LakhMin. Rs. 3 lakh – Max. Rs. 8 LakhMin. Rs. 10 lakh – Max. Rs. 75 LakhMin. Rs. 5 lakh – Max. Rs. 75 Lakh
Repayment TenureFrom 12 months – 36 monthsUp to 500 daysFrom 18 months – 36 monthsFrom 18 months – 36 months
Business existenceMin. 2 yearsMin. 2 yearsMin. 3 yearsMin. 3 years
Min. card monthly salesRs. 1 lakhNARs. 5 lakhRs. 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.

NeoGrowth Eligibility Criteria for Online Sellers

  • Minimum 2 years of business experience
  • Last 6 months’ bank statement
  • Sales of more than Rs. 2 lakh/month from online channels
  • Applicant should be Indian citizen

Features & Benefits

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.

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.

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

  • Address proof – Residence
  • Business address proof
  • Valid passport
  • Voter’s ID card
  • Aadhaar Card
  • Rent Agreement
  • PAN card
  • VAT Certificate

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

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

FAQs

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.

Andhra Bank Business Loan
(4.9/5 ) 17 Reviews
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Mar 30, 2020
5/5
Quiet happy after taking loan

I am running a sweet shop and got a huge catering order for some marriages. I was not prepared for that as I do not have that much amount to make sweets in bulk. I took loan from Andhra Bank and paid the amount to suppliers for raw material. Now I have time to pay back the loan amount with time I have. I am happy and great work by paisabazaar to make life simple for me.

Mar 30, 2020
5/5
Earnings have improved. Happy now

Nice experience. I wanted to start my own taxi business in Amritsar but did not have much money. I wanted Rs. 4 lakh to buy a taxi but I have only 1 lakh. Then I asked a friend for help so he gave Rs. 50,000 but I still wanted more. So I went to Kotak Mahindra bank and got the full amount that I needed. I am happy to buy my own car and start a taxi business.

Mar 30, 2020
5/5
Thanks for making me run my dream business

Just awesome. I always wanted to open my own clinic as I just completed my MBBS. To open a clinic in my area I finalized the location and shop but did not have more money to buy more equipment. I was confused as which bank to take loan from. Then I saw the ad of paisabazaar on television. I visited their website and took the best deal from ICICI bank. Thanks

Mar 30, 2020
5/5
Helped in my tough time. Thanks

I run a cosmetics wholesale business in Indore. First few years was all good but this year due to some emergency had to give business earned money for family. Now shortfall was there for my business to buy products. I took simple option by taking small business loan from SBI as I think it is the largest bank in India. I was satisfied with the interest rate and paying back time. Thanks SBI team.

Mar 24, 2020
5/5
You guys rock..

Well done guys. As I was finding it difficult to overcome the cash crunch situation while running a restaurant. I knew paisabazaar.com but never visited them. But now was the time so I opened paisabazaar to check all the possible options to take working capital loan. Not every bank offers this type of loan and Axis bank was the best of all that was meeting my requirements.

Mar 24, 2020
5/5
Got lot of help in renovation

Now it has been more than 10 years for me running a medical clinic in Patna. I wanted to renovate my clinic but needed money for that. I asked my friends and they suggested Axis bank. Being a doctor it became easy for me to get loan from Axis bank at low interest rates. Will recommend others also. Good job!!

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