Micro loans are designed to provide financial support for small businesses, entrepreneurs, and individuals who need quick and accessible funding for their immediate needs. Here’s a detailed breakdown of the features and benefits of micro loans from LoanHai:
Small Loan Amounts: Ideal for meeting short-term financial needs, with loan amounts typically ranging from ₹10,000 to ₹2,00,000.
Quick Disbursal: Fast processing and disbursement ensure that you receive funds promptly, usually within 24-48 hours.
Minimal Documentation: Simplified application process with minimal paperwork required, making it easy to apply and get approved.
Flexible Repayment Options: Choose from a variety of repayment terms ranging from 3 months to 24 months, allowing you to repay at your convenience.
Affordable Interest Rates: Competitive interest rates tailored to suit small-scale borrowing, making repayment manageable.
Unsecured Loans: No collateral required, reducing the risk and making it accessible to a broader range of borrowers.
User-Friendly Application: Easy online application process available on our website and mobile app for your convenience.
Accessible for All: Available to individuals with varying credit histories, including those with limited or no credit history.
Customizable Loan Products: Options to customize the loan according to your specific financial requirements and capabilities.
Transparent Terms: Clear and straightforward terms and conditions with no hidden fees or charges.
Empowering Small Businesses: Provides essential funding to small businesses and startups for growth, operational needs, or unforeseen expenses.
Supporting Personal Goals: Helps individuals cover personal expenses such as medical emergencies, education, or home repairs without financial strain.
Boosting Financial Inclusion: Aids in financial inclusion by offering loan access to underserved segments of the population, including low-income individuals.
Building Credit History: Successful repayment of micro loans helps build or improve your credit score, paving the way for larger loans in the future.
No Collateral Risk: As unsecured loans, they do not put your assets at risk, providing peace of mind.