Running a small business often means handling unexpected expenses—such as stock purchases, shop rent, new equipment, or daily cash flow gaps. In such moments, a ₹1 lakh business loan applied online can be the fastest and safest solution. You don’t need to visit banks, stand in long queues, or submit heavy paperwork.
With 24hrLoan, you can apply online for a ₹1 lakh business loan from several banks and NBFC lenders on a single platform, streamlining the process and making it fast, easy, and transparent.
Who Can Apply for a 1 Lakh Business Loan Online?
You are eligible to apply online if you fit into one of the following groups.
- Small shopkeeper or retailer
- Kirana store owner
- Salon, bakery, or café owner
- Electrician, plumber, technician
- Freelancer or self-employed professional
Even if your business is small, lenders prioritize cash flow and basic documentation over business size.
Features of ₹1 Lakh Business Loan
- Loan Amount: Up to ₹1,00,000
- Loan Type: Unsecured business loan
- Application Mode: 100% online
- Approval: Fast (often within 24 hours)
- Usage: Business expansion, stock, rent, tools
- Repayment Tenure: 6 to 36 months
Also Read: Best Business Credit Cards in India
Benefits of Applying for a 1 Lakh Business Loan Online
1. Fast Online Process
No branch visits. Apply from your mobile or laptop anytime.
2. Multiple Lender Options
24hrLoan connects you with multiple banks and NBFCs, increasing approval chances.
3. Minimal Documentation
Basic KYC and business proof are usually enough.
4. No Collateral Required
You don’t need to mortgage property or assets.
5. Flexible Repayment
Choose an EMI tenure that matches your business income.
6. Suitable for Small Businesses
Ideal for micro and small entrepreneurs needing quick funds.
Eligibility Criteria for 1 Lakh Business Loan
Check out below to eligibile for a 1 lakh business loan:
- Age: 21 to 60 years
- Business Experience: Minimum 1 year
- CIBIL Score: 700+ preferred (some lenders allow lower)
- Income Source: Regular business income
- Bank Account: Active savings or current account
Documents Required
To apply online, you usually need:
- PAN Card
- Aadhaar Card
- Business Proof (Shop Act, MSME/Udyam, GST – if available)
- Bank Statement (last 12 months)
- Passport-size photo
Many lenders also accept video KYC, reducing paperwork further.
Top Lender Offers 1 Lakh Business Loan Online
| Lender | CIBIL Score | Loan Amount | Process | |
| Muthoot Fincorp | 720+ | Up to ₹3 Lakh | Video Verify | Apply Now |
| WeRize | -1 / 700+ | Up to ₹5 Lakh | Video Verify | Apply Now |
| Hero Fincorp | 730+ | Up to ₹5 Lakh | Online | Apply Now |
| DMI Finance | 745+ | Up to ₹9 Lakh | Online | Apply Now |
| Protium | -1 / 700+ | Up to ₹15 Lakh | Online | Apply Now |
Interest Rate & Charges
Interest rates depend on your credit profile and lender:
- Interest Rate: 16% to 28% per annum
- Processing Fee: Up to 3% of the loan amount
- Late Payment Charges: As per lender policy
Tip: A better CIBIL score can help you get lower interest rates.
How to Apply for a 1 Lakh Business Loan Online
Follow these simple steps:
- Visit the 24hrLoan website.
- Select the “Business Loan” option.
- Enter basic details (name, mobile number, income)
- Choose loan amount (₹1,00,000)
- Upload documents or complete video verification.
- Get offers from multiple lenders.
- Select the best offer and submit.
How Can You Use a ₹1 Lakh Business Loan?
You can use the loan for:
- Purchasing inventory or raw materials
- Paying shop rent or utility bills
- Buying machines or tools
- Marketing and advertising
- Managing seasonal business expenses
There are no restrictions on usage as long as it supports your business.
Why Choose 24hrLoan for Business Loans?
- One platform, multiple lenders
- Higher approval chances
- Transparent charges
- Fast digital process
- Suitable for small & micro businesses
Also Read: Instant Business Loan Without GST
Conclusion
A ₹1 lakh business loan applied online can be a powerful boost for small businesses that need quick and flexible funding. With minimal documents, fast approval, and no collateral, it’s one of the easiest ways to manage business expenses or grow operations.
Through 24hrLoan, you can compare and apply for the best business loan offers from multiple banks—saving time, effort, and money.