Neogrowth
Personal Loan

NeoGrowth is a revolutionary digital lending platform that assists businesses with all their financial requirements. NeoGrowth aims to get rid of the outdated system of lending and offers innovative product experiences. NeoGrowth promises hassle-free and personalised loan services, application and products.

NeoGrowth was created to cater to the SMEs who could not avail a business loan from conventional vendors and banks due to a lot of reasons. NeoGrowth recognised the need for a lender that would work as per the needs of these SME's and decide their eligibility according to new and improved underwriting standards. NeoGrowth promises to supplement the dreams of small businesses and startups by providing them with the funds they would need for their business purposes. To support this vision, NeoGrowth determines eligibility by analysing fundamental business numbers.

Loans are taken in case of urgent finance requirement. That is why it is imperative that the loans be sanctioned as soon as possible so that the borrower can utilise them on time. However, with banks and NBFCs, it is possible that the application process may take a very long time to analyse your requirements, creditworthiness and provide approval. Moreover, banks place a have focus on documentation and other paperwork that can be an added hassle.

In todays digital age, going to the bank and standing in-line doesn?t make much sense. Instant online loans were devised to combat this issue. Instant online loans are revolutionary products that can help you with all your loan requirements by utilising the best of technology. Instant online loans make loan applications simple and hassle-free. Through Instant online loans, you can apply for the loan at any time from any place through the comfort of your own home. The entire process is paperless and the documents need to just be uploaded to the website. The approval is quick and easy as well.

Another downside to applying for the loans with banks and NBFC's is that they have a very strict eligibility criterion when it comes to income, credit score, employment type etc. This means that a certain section of society is unable to avail their services. Instant online loan services also tackle this issue as they have partnered with multiple banks, NBFC's and other lenders so that it is easy for the borrower to avail the loan based on different types of creditworthiness.

NeoGrowth is one such Instant Online Loan service that provides you will all the above-mentioned features. NeoGrowth specifically caters to small businesses or SMEs that require urgent funds for running the business and are finding it difficult to avail the funds from any other source.

NeoGrowth is a revolutionary digital lending platform that has greatly simplified loan application processes. NeoGrowth primarily caters to small businesses and SMEs. NeoGrowth helps the SME's to fulfil their dreams by providing them with sufficient funds for their business purposes. Below are the benefits of applying for a business loan from NeoGrowth./p>

Can provide loans for candidates with low credit score :

Having an inadequate or low credit score is one of the major reasons for loan rejections by banks and NBFCs. Naturally, such applicants find it very difficult to avail the loans in spite of being creditworthy. NeoGrowth recognises the need for such applicants and hence makes it possible for applicants with a low credit score to avail the services. They do this by partnering with many banks, NBFCs, private lenders etc.

Quick processing and approval

NeoGrowth is an Instant Online Loan service provider. The goal of NeoGrowth is to reduce all the hassles and paperwork related to loan application and processes. NeoGrowth achieves this by simplifying the loan application process through online application forms, online documentation upload and approval and online sanction of loan. Even Cash advances can be approved through online applications.

Collateral free loans

To provide these business loans, NeoGrowth partners with a wide variety of banks, private lenders, NBFC's etc. Because of this, they are able to provide a large amount of loan with no need for collateral. This makes it easier for applicants who do not own any property or asset for security.

Many types of loan provided with a wide range of features:

NeoGrowth caters to small businesses and SMEs and hence, provides a variety of business loan products. Products are available for wholesalers, retailers, vendors and other kinds of businesses. The loans can be customised as per the requirement of the applicants.

Doorstep Service :

NeoGrowth provides doorstep assistance for documentation and other purposes. Once you fill-up the online application and click on apply, the representatives will visit you and guide you through the next steps of the application. This means that you won?t have to struggle to reach the bank and stand in line to verify your documents. The entire application is done through the comfort of your own home.

NeoGrowth offers many different types of business loan products suited to wholesalers, retailers, vendors etc. The features of all these products also differ widely and can be customised according to the needs of the lender. Below are the types of business loans provided by NeoGrowth.

NeoCash

Neo Cash is a business loan product that is offered specifically to retailers. Neo Cash comes under the Supply chain finance bracket. The product is available for both online and offline retailers for any of their business requirement. These are quick short term loans for SMEs.

Below are the features of NeoCash Loan.

Neo Cash Express

Neo Cash Express is a quick standard fixed-term loan products for MSME's. As you can understand from the name, the loan product is designed for quick and small MSME requirements. This is also a short term loan.

The following are the features of Neocash Express loan.

Purchase Finance

Purchase finance is a business loan product catering specifically to wholesalers, traders, manufacturers or service providers who take in raw materials/goods from large corporates or companies(companies with a turnaround higher than INR 250 car). Below are the features of the Purchase Finance Business loan product. The sanction for this type of loan can be easily provided based on your business details with the company.

Below are the features of Product Finance loan

Vendor Finance

This Business loan product caters specifically to manufacturers and service providers who act as the suppliers to large corporates or companies(companies with an annual turnover higher than INR 250 Cr). The loan is provided for any expense they might incur while supplying the companies with their products.  

Below are the features of Vendor Finance business loan

NeoGrowth has greatly simplified the business loan application process through its online portals.

• To apply for the business loan, all you need to do is visit the NeoGrowth website, search for the relevant business loan product and click on Apply.
• Once you click on Apply, you will be taken to a page where you will have to enter some details.
• The page asks for your Personal details such as name, phone, email id, address etc.
• Once you have finished that, you will have to enter your business details such as your business experience, your annual turnover etc.
• After that, you might have to enter your loan requirement details.
• Once you fill and submit the form, NeoGrowth representatives will contact you for the next steps.
• The documents can be verified through online uploads or through doorstep service. NeoGrowth representatives can visit you to verify the documents for the application.

NeoGrowth enables fast application and approval process for Business Loans by complete online applications. The documents can be uploaded to the website or you can opt for doorstep service for document verification. Below are the documents required for availing a business loan through NeoGrowth.

• KYC documents of the applicant such as Aadhar Card/PAN Card/Passport/Voter's ID etc
• VAT certificate of the business
• Business PAN Card
• Address proof for business
• Last 6 months of Business Bank statement
• Business Turnover Sheets

The eligibility for NeoGrowth Business loans can depend upon the type of loan you wish to avail. However, there is a certain level of eligibility required before the company will consider your loan application. Below are the general eligibility criteria for any business loan from NeoGrowth.

• The loan is only applicable to SMEs, MSMEs or businesses. Personal loans are not provided by NeoGrowth.
• The business should have a minimum experience of 2 years.
• The business should have a minimum average monthly card sale as required for each type of loan.
• The business should have a working point of sale machine through which they do regular business/sales.

As mentioned above, Neogrowth has revolutionised the lending process by partnering with multiple vendors to offer their business loan products. Because of this feature, NeoGrowth is able to cater to a wide variety of eligibility and requirements of the consumers. Below are the lending partners that NeoGrowth has signed up with to provide the business loan to its consumers.

• Banks
• NBFCs
• P2P Lenders
• Direct Lenders
• Private Finance Companies

Things you can use the instant online loan for

Instant Online loans can be used for a variety of purposes. Many vendors provide different kind of Instant Online loans specifically for various purposes. Below are some of the purposes of Instant Online loans.

• Purchasing raw material from other companies
• Any kind of business requirement.
• Supplying companies with your products/services.
• For planning a wedding
• For a domestic/International vacation
• For medical emergencies
• For renovation and repair of your house, purchase of land etc.
• For debt consolidation
• As salary advance
• For higher education purposes.
• For day to day business needs.

Things you cannot use the instant online loan for

Although Instant Online loans are available for a variety of purposes, there are some restrictions on their usage. Below are the things that you cannot use the Instant online loan for.

• Shopping
• Dining out
• For liquor
• For buying gadgets, gifts, etc.
• Only for survival requirements,
• Impulsive spending.

There are many ways for you to repay the Instant online loan availed through NeoGrowth. Please find them below. 

• NACH: The NACH(National Automated Clearinghouse) is the most widely used method of repayment for Instant Online loans. Through NACH, the EMI amount will be automatically deducted from the specified account monthly as per the date specified.
• POS Machine: The amount of EMI is deducted automatically by NeoGrowth.
• NEFT/RTGS/IMPS: This method can be used to transfer the repayment amount through any of the bank transfer services to NeoGrowth designated Account number.
• BillDesk Gateway: You can pay the repayment amount manually by logging in to the NeoGrowth website and selecting the bill pay option.