NeoGrowth Business Loan

The following are the key details of Neogrowth loans for businesses:

The following are the current applicable interest rates for different NeoGrowth credit SME business loans:

The following are the different types of business loans offered by NeoGrowth, along with their key features:

A. Neogrowth Retail Finance

1. NeoCash

• Purpose: Short-term loans for customer-facing SMEs (online and offline retailers) with point-of-sale machines or online sales.
• Collateral: Not required.
• Top-up facility: Existing customers with satisfactory repayment records are offered a top-up facility with minimum documentation.
• Repayment options: Daily, weekly or fortnightly.
• Loan amount: Rs. 1 Lakh to Rs. 75 Lakhs.
• Tenure: 18 to 36 months.

2. NeoCash Express

• Purpose: Quick loan for retailers with a standard simplified application and standard loan feature.
• Repayment: Fixed tenure loan with low daily repayments.
• Loan amount: Rs. 16 Lakhs to Rs. 25 Lakhs.
• Tenure: Up to 24 months.

3. NeoCash Insta

• Purpose: Neogrowth Insta loan or NeoCash Insta is a loan for customer-facing SMEs (retailers) with instant online approval and disbursal.
• Repayment: Fixed tenure loan with low daily repayment.
• Loan amount: Rs. 1 Lakh to Rs. 15 Lakhs.
• Tenure: 500 days to 720 days.

4. Neocash Plus

• Purpose: Loan against property for retailers who own a property.
• Tenure: 72 to 100 months.
• Collateral: Loan against residential, commercial, industrial, warehouse or vacant land properties.
• Balance transfer option: Balance transfer & top-up of existing loans with other financiers.
• Loan amount: Rs. 10 Lakhs to Rs. 75 Lakhs.

B. Supply Chain Finance

1. Vendor Finance

• Purpose: Easy sanctioning of loans for manufacturers and service providers, specifically suppliers to large corporations.
• Loan amount: Rs. 25 Lakhs to Rs. 75 Lakhs.
• Tenure: 18 to 36 months

2. Accelerator

• Purpose: Collateral-free term loan for manufacturers, distributors, traders, dealers, and service providers catering to other businesses with GST registration on the basis of KYC and banking.
• Financial: No financial requirements.
• Loan amount: Rs. 15 Lakhs to Rs. 25 Lakhs.
• Tenure: 24 months to 30 months.

3. Purchase Finance

• Purpose: Easily sanctioned term loan and limit-based product for traders, manufacturers, and service providers who purchase their raw materials/ trading goods from large corporates/ channel partners of large corporates.
• PayLater facility: PayLater Open option for purchase finance customers, which breaks down their loan amount for maximum convenience.
• Facility type: 50% of the amount is a term loan, and the other 50% is a limit.
• Loan amount: Rs. 15 Lakhs to Rs. 75 Lakhs.
• Tenure: 24 months to 36 months.

4. Supply Chain Plus

• Purpose: Secured loan against residential, commercial, industrial, warehouse, or vacant land property for traders, manufacturers, or service providers
• Eligibility: Based on Liquid Income.
• Loan amount: Rs. 10 Lakhs to Rs. 75 Lakhs.
• Tenure: 72 months to 100 months.
• Balance transfer: Availability of balance transfer and top-up of existing loans with other financiers.

The following are the charges applicable for NeoGrowth business loans:

Before you opt for the NeoGrowth loan apply process, make sure you meet the below-mentioned NeoGrowth loan eligibility criteria:

NeoGrowth currently has a presence in all major cities of India, including Ahmedabad, Bengaluru, Chandigarh, Chennai, Coimbatore, Delhi, Hyderabad, Indore, Jaipur, Kolkata, Lucknow, Ludhiana, Madurai, Mumbai, Mysore, Nagpur, Pune, Surat, Vadodara, Vijayawada, and Vizag.

You will be required to submit the following documents to apply for a NeoGrowth business loan:

• VAT Certificate of the business
• Business PAN Card
• Proof of residence and business addresses in the form of a Passport/ Voter’s ID Card/ Rent Agreement/ Aadhar Card.

If you want a NeoGrowth loan, apply online for an easy and fast application process. All you need to do is visit the official website of NeoGrowth, compare and select the desired product, click on the ‘Apply Now’ button, and follow the instructions to fill out the online form. A NeoGrowth executive will contact and visit you at your convenience to begin the loan application process. Once you submit all the required documents, NeoGrowth will verify and do a credit check of your business. After the sanction, it will disburse your loan directly into your account within 24 to 48 hours. NeoGrowth uses two modes for loan disbursement i.e., NEFT or RTGS, as per your convenience and preference.

Tracking your NeoGrowth loan application status is easy. You can contact the customer care of NeoGrowth to check the status. The customer care team gives accurate information about your NeoGrowth loan status. You can call the lender's helpdesk number or send them an email.

For NeoGrowth application status check or any query, feedback, or complaint against NeoGrowth business loan, you can reach out to NeoGrowth’s customer care team through any of the following 3 ways:

• Call at 1800-4195565 or 9820655655 (between 10:00 AM to 6:00 PM from Monday to Saturday)
• Email at helpdesk@neogrowth.in
• Raise a service request through the Customer Portal i.e., http://my.neogrowth.in