NeoGrowth Business Loan

Features and Benefits of NeoGrowth Business Loan 

• Customer-focused: NeoGrowth prioritises its customers. They make financing easy and hassle-free for all SMEs.
• Repayment at your Comfort: With flexible repayment options, you can repay your loan at your own pace and comfort. They also provide direct deductions from sales, so that manual repayment is eliminated.
• No Collateral: Unlike traditional financing houses where the collateral is a mandate, NeoGrowth has come up with no collateral schemes making the loan process easy and fun.
• Top-Up Facilities: If you are an existing customer at NeoGrowth and you make sure that your repayments are on time. The company offers top-up on loans with a minimal documentation process.
• High Loan Amount: NeoGrowth offers loans ranging from INR 1 Lakh to INR 1.5 Crores, depending upon the type of loan you choose.

Eligibility Criteria for NeoGrowth Business Loan 

• Minimum of 2-3 years of business operations
• Banking and financial statements
• A credit score of more than 650
• Should be of 18 years or above and must be an Indian Citizen
• In case you are an online seller, the monthly revenue should be more than INR 2 Lakhs

NeoGrowth Business Loan Fees and Charges 

NeoGrowth Business Loan Interest Rates 

The NeoGrowth Business Loan Instant Rates range from 19%-24%.

NeoGrowth Business Loans Offered

NeoGrowth offers business loans under two broad categories, namely, Retail Finance and Supply Chain Finance.

Retail Finance

The business loans offered under Retail Finance are particularly for SMEs, specifically online and offline retailers and proprietorship firms.

NeoCash

Neo Cash is an unsecured short term loan that can be availed by online as well as offline retailers. It is primarily for SMEs having online sales or point of sales machines. 

NeoCash Express

NeoCash Express is an instant loan for retailers with standard application and loan features. It is a fixed term. 

NeoCash Plus

NeoCash Plus is a type of secured loan primarily offered to online and offline retailers who want to receive maximum value against their property.

• The loan amount sanctioned is more than the value of the property.
• The loan can be availed against residential, industrial warehouse, commercial or vacant land.
• Neo Cash Plus also offers balance transfers and top-up options with other financial institutions.
• The eligibility factor depends upon your banking and financial transactions.

NeoCash Insta

The offerings under NeoCash Insta are exclusively reserved for Proprietorships only and include

• Instant approval
• Swift disbursal
• Fixed-term loan
• Low daily repayment

NeoCash Emerger Plus

NeoCash Emerger Plus is made for retailers who want to secure a loan against their properties.

• The eligibility criteria depend on Income Tax Returns (ITR) or liquid income.
• Neo Cash Emerger Plus also offers balance transfers and top-up options with other financial institutions.

Supply Chain Finance

Loan financing solutions under the category of Supply Chain Finance are designed for both SMEs and large corporations that are manufacturers, vendors, service providers and suppliers.  

Vendor Finance

The supplier-friendly finance provides loans to vendors, suppliers and manufacturers of large corporate firms whose annual turnover is more than INR 250 crores.  

Vendor Finance Express

Vendor Finance Express provides quick and instant loans for vendors, suppliers, service providers and manufacturers to large corporations. Bank statements of the applicant are used as a medium for their eligibility criteria.

Purchase Finance

Purchase Finance loans can be availed by traders, service providers and manufacturers who purchase raw materials from big corporates ( companies with a turnover of more than INR 250 Crores).

• Hassle-free and swift loan sanction
• Eligibility depends on purchases with large corporates
• Pay Later option is provided
• 50% of the principal amount is the term loan
• The other 50% of the loan amount is a limit

Vendor Finance Plus

Vendor Finance Plus provides hassle-free loans for vendors, suppliers and manufacturers to large corporations.

• The loan amount sanctioned is more than the value of the property.
• Vendor Finance Plus also offers balance transfers and top-up options with other financial institutions.
• The eligibility factor depends upon your banking and financial transactions.

Supply Chain Emerger Plus

Supply Chain Emerger Plus Loan can be availed by traders, manufacturers and suppliers who want to take a loan against their property.

• Eligibility factor depends on the liquid income and income tax returns.
• Supply Chain Emerger Plus also offers balance transfers and top-up options with other financial institutions.

Documents Required for NeoGrowth Business Loan

EMI Calculations For NeoGrowth Business Loans

NeoGrowth provides you with an EMI calculator that helps calculate the Estimated Monthly Instalment on your loan. By entering the loan amount, tenure and rate of interest in the given spaces on their website, you can calculate the EMI on your loan. 

The applied formula is:

EMI = P × r × (1 + r)n/((1 + r)n – 1) 

Note: This calculator provides indicative results on the basis of the amounts you enter. It is only a conceptual indication provided for comparative analysis. NeoGrowth won’t take up responsibility for any inaccuracy for the calculator.

Comparison with Other Lenders 

NeoGrowth Business Loan Customer Care

• Email Address: helpdesk@neogrowth.in
• Customer Care Number: 18004195565/ 9820655655