Looking to raise funds for your business without pledging any assets? A ₹10 lakh business loan can give your enterprise the boost it needs, whether it’s for expansion, managing working capital, upgrading equipment, or tackling seasonal demands. What makes it even more accessible today is the availability of unsecured business loans, which don’t require any collateral.

At DMI Finance, we offer collateral-free business loans from ₹1 lakh to ₹25 lakh, including the ₹10 lakh range, through a 100% digital process, minimal documentation, and it is collateral-free. In this blog, we break down everything you need to know about getting a ₹10 lakh business loan, eligibility, documents, interest rates, and how to apply online with ease.

Why Choose a ₹10 Lakh Business Loan?

A ₹10 lakh loan strikes the right balance; it’s big enough to make a real difference but small enough to keep EMIs manageable.

Common Use Cases for a ₹10 Lakh Business Loan:

• Business Expansion: Open a new branch, upgrade infrastructure, or add new services.
• Bulk Inventory Purchase: Prepare for high-demand periods or meet large orders.
• Staff Hiring: Onboard skilled professionals to scale operations smoothly.
• Marketing & Promotion: Run digital ads, branding campaigns, or offline events.
• Tech & Equipment Investment: Purchase machinery, tools, or business management software.
• Working Capital Support: Cover day-to-day operational expenses during lean periods.

Key Features of DMI Finance Business Loans

Features	DMI Finance
Loan Amount	₹1 lakh – ₹25 lakh
Tenure	12–36 months
Interest Rate	18% – 24.90%
Collateral	Not required
Application	100% digital

Eligibility Criteria for DMI Finance ₹10 Lakh Business Loan

Individuals who meet the eligibility criteria below can apply for a ₹10 lakh loan for business from DMI Finance.

• Minimum Age: 23 years
• Minimum Annual Income: ₹3,00,000
• Credit Score: 700+ preferred
• Business Vintage: At least 24 months
• Eligible Entities: Sole proprietors, partnership firms, private limited companies, MSMEs, traders, professionals

Documents Required

Category	Documents Needed
KYC	Aadhaar, PAN, Passport, Voter ID
Business Proof	GST registration, Trade license, MSME certificate
Income Proof	Last 6–12 months’ Bank Statements, ITR, Profit & Loss Statement
Address Proof	Utility bill, Rent agreement, Aadhaar card

How to Apply for a ₹10 Lakh Loan for Business – Step-by-Step

• Download the DMI Finance App from the Google Play Store or Apple App Store.
• Check Your Eligibility by entering key details such as monthly income, credit score, any existing EMIs, etc.
• Upload Your Documents securely through the app.
• Verification by DMI Finance – our team will review your application and documents.
• Get Your Loan Offer if you meet the eligibility criteria.
• Accept the Offer, and the approved amount will be directly transferred to your bank account.

Tips to Improve Your Approval Chances

• Maintain a credit score of 700+
• Keep your debt-to-income ratio low
• Prepare all financial documents in advance
• Apply for an amount aligned with your repayment capacity
• Avoid multiple loan applications at the same time

Also read: How to build and maintain a good credit score?

EMI for ₹10 Lakh Business Loan

Here’s an example of a ₹10 lakh business loan:

Loan Amount	Tenure	Interest Rate (approx.)	Monthly EMI
₹10,00,000	36months	18% p.a.	₹36,152

A ₹10 lakh business loan can be a powerful financial tool, whether you’re looking to expand operations, improve cash flow, or invest in new opportunities. The important part is choosing a lending partner (Banks & NBFCs) that offers flexibility, speed, and transparency.

With DMI Finance, you get it without hassle. Our collateral-free business loans come with minimal documentation, a fully digital process, and fast disbursals, so you can focus on running and growing your business while we handle the financing.

Ready to take the next step? Apply online and access ₹10 lakh without the paperwork hassle.

Frequently Asked Questions (FAQs)

1. Who is eligible for a ₹10 lakh business loan?
Individuals 23–65 years old, who have a ₹3 lakh+ annual income, a 700+ credit score, and a business running for at least 2 years, can apply for DMI Finance business loans.

2. Can I get a ₹10 lakh business loan without collateral?
Yes. DMI Finance offers business loans without any collateral if you have a strong credit profile and income as per the eligibility criteria.

3. What is the EMI for a ₹5 lakh business loan?
At an 18% yearly interest rate for a 36-month tenure, the EMI will be ₹36,125. Use a loan EMI calculator to get an exact number.

4. How fast can I get a ₹10 lakh business loan from DMI Finance?
With DMI Finance’s fully digital process, you can receive the loan amount within 24 to 72 hours of approval of the loan application.

5. What documents are required for a ₹10 lakh business loan?
You’ll need Aadhaar, PAN, GST registration or trade license, bank statements, ITR, and proof of business address.

6. Can I get a ₹10 lakh business loan for a startup??
If your startup has been in business for the last 24 months and meets other eligibility criteria, then you can apply for a ₹10 lakh business loan from DMI Finance.

7. Is a ₹10 lakh business loan enough to expand operations?
For many small businesses, ₹10 lakh is ideal for expanding branches, hiring staff, investing in inventory, or upgrading infrastructure, without overextending financially.

8. Can I apply for a ₹10 lakh loan online?
Absolutely. With DMI Finance, the entire application process, from form submission to document upload and e-KYC, is 100% digital, allowing you to apply from anywhere in just a few minutes.

9. What happens if I miss an EMI on a ₹10 lakh business loan?
Missing an EMI may affect your credit score and attract penalty charges. It’s best to inform your lender in advance if you foresee payment issues. Some lenders may offer a grace period or restructuring.