Running a business is not easy. One day sales are good, the next day you may need money for stock, rent, staff salary, or marketing. I was in a similar situation when I needed ₹3 lakh urgently for my business. I didn’t want long paperwork or repeated bank visits. That’s when I found an easy solution through 24hrLoan, where I could apply online and get connected with multiple banks and lenders.
The best part?
The entire loan process was 100% digital, with video verification only, and the loan amount could go up to ₹5 lakh.
What Is an Online Business Loan?
An online business loan is an unsecured loan given to small business owners, shopkeepers, traders, and self-employed individuals. You don’t need to give property or assets as security. Everything—from application to approval- is done online.
Through 24hrLoan, you can apply once and get offers from multiple banks and NBFCs, increasing approval chances.
Loan Amount Details
- Minimum Loan: ₹50,000
- Popular Choice: ₹3,00,000
- Maximum Loan: Up to ₹5,00,000
- Use Business Loan For: Business expansion, stock purchase, working capital, shop renovation, online ads, salary payment, or emergency needs
Benefits of Taking a ₹3 Lakh Business Loan Online
1. 100% Online Process
No bank visits, no physical paperwork. Everything is done online from your mobile.
2. Video Verification Only
Instead of branch verification, lenders complete verification through a short video call, saving time.
3. Loan Up to ₹5 Lakh
Even if you apply for ₹3 lakh now, you may be eligible for up to ₹5 lakh based on your profile.
4. Multiple Bank Options
24hrLoan connects you with many banks and NBFCs, helping you get the best offer.
5. Fast Approval & Disbursal
Approval can happen within hours, and funds are usually credited quickly.
6. No Collateral Required
You don’t need to mortgage your shop, house, or property.
Also Read: Urgent Loan for CIBIL Defaulters in India
Interest Rate & Charges
| Charges | Details |
| Interest Rate | 16% to 26% per annum |
| Processing Fee | Up to 3% of loan amount |
| Late Payment Charges | As per lender policy |
| Prepayment Charges | Depends on lender (some allow free closure) |
Eligibility Criteria for Business Loan
To take a ₹3 lakh business loan online, you must meet these conditions:
- CIBIL Score: Minimum 700+
- Business Vintage: At least 1 year
- Bank Account:
- 1 year Savings or Current Account statement
- Business Type:
- Shop owner, trader, manufacturer, service provider, self-employed
- Verification Mode: Video KYC mandatory
A good CIBIL score improves approval chances and lowers interest rates.
Documents Required
Keep these documents ready before applying:
Personal Documents
- PAN Card
- Aadhaar Card
Business Documents
- Trade License
- MSME Certificate (Udyam Registration)
Financial Documents
- 1 year bank statement (Savings or Current Account)
All documents are uploaded online—no physical copies required.
How to Apply for ₹3 Lakh Business Loan Online (Step-by-Step)
Step 1: Visit the 24hrLoan Website
Go to the 24hrLoan platform and choose the Business Loan option.
Step 2: Enter Basic Details
Fill in your name, mobile number, PAN, business details, and required loan amount.
Step 3: Upload Documents
Upload PAN, Aadhaar, bank statement, MSME certificate, and trade license.
Step 4: Complete Video Verification
Attend a quick video call for identity and business verification.
Step 5: Get Loan Offers
24hrLoan shows offers from multiple banks and NBFCs.
Step 6: Approval & Disbursal
Once your loan is approved, the amount is credited directly to your bank account, often within a few hours.
Also Read: 5 Lakh Business Loan Apply
Why Choose 24hrLoan for Business Loan?
24hrLoan makes borrowing easier by:
- Comparing multiple lenders in one place
- Increasing approval chances
- Offering loans even with minimal documentation
- Saving time and effort
- Providing transparent loan terms
Whether you need ₹3 lakh or up to ₹5 lakh, 24hrLoan helps you get the right loan at the right time.
Who Should Take This Business Loan?
This loan is ideal for:
- Small shop owners
- Kirana store owners
- Traders & wholesalers
- Online sellers
- Service providers
- MSME business owners
If your business has been running for 1 year and your CIBIL score is good, this loan can easily support your growth.
Also Read: Instant Business Loan Without GST
Conclusion
Taking a ₹3 lakh business loan online is now simple, fast, and stress-free. With video verification only, minimal documents, and loan availability of up to ₹5 lakh, this option is ideal for growing businesses.
Through 24hrLoan, you don’t depend on one bank—you get access to multiple lenders, better rates, and faster approval.