Non-banking financial companies (NBFCs) are financial institutions that provide banking services without a full banking license and can be a good option for business loans. Here is the list of top 10 classified NBFC for business loans in India 2025.
Top 10 Classified NBFCs for Business Loans in India 2025
Introduction
Being the backbones of the Indian economy, Micro, Small, and Medium Enterprises (MSMEs) have always been a significant contributory source for the nation's economy regarding employment generation in the rural areas and increase in exports and support to the growth of GDP.
Including other requirements, one of the major challenges that a business owner faces include a lack of finance, NBFCs bridging some of those gaps, by fulfilling their financial requirements.
NBFCs typically have more relaxed lending norms, quicker approval processes, and require minimal documentation compared to banks. This makes them a popular choice for businesses seeking working capital, expansion funds, or other financial needs.
With competitive interest rates and flexible repayment options, NBFCs play a crucial role in supporting the growth and development of small and medium enterprises.
Top 10 Non-Banking Financial Companies in India
Below are some of the top 10 NBFCs for business loans in India for 2025.
1. Kinara Capital
It is one of the RBI-registered NBFCs providing various kinds of MSME loans ranging from ₹1 lakh to ₹30 lakhs, which are collateral-free, and the business loans are disbursed within 24-hours since their business loan application comes with an end-to-end digital process with their myKinara App. Kinara business loan is among the best as they also provide automatic upfront discounts to women entrepreneurs.
2. Bajaj Finserv
Bajaj Finserv, a leading Non-Banking Financial Company (NBFC) in India, offers a wide range of financial products and services, including personal loans, business loans, insurance, investments, and payment solutions. They provide business loans starting from ₹1 lakh to ₹30 lakhs and the business loans get disbursed within 24-48 hours. Any business owner can apply for a business loan through their mobile app. Several MSME business owners have been supported by them.
3. Lendingkart Finance
This NBFC provides business loans to MSMEs free of collateral. Lendingkart utilizes high-tech technologies and data analytics for making judgments about the riskworthiness of a borrower and makes sure that loans get approved quickly. The amount of loans ranges as high as ₹2 crores, and the company does offer flexibility of repayment. The services are totally online and come without any hassle of loans.
4. Tata Capital
Tata Capital is a leading financial services provider in India. It gives the MSME industry competitive interest rates for customized business loans with flexible repayment terms. Tata Capital extends loans up to ₹75 lakhs, which is granted on a collateral-free basis. The company is very transparent about its loan processing and hassle-free in terms of customer service. With an extremely wide reach, Tata Capital reaches the MSME sector everywhere in urban and rural areas.
5. Cholamandalam Investment and Finance Company Limited
CIFCL, established in 1978, offers a wide range of financial services, including vehicle finance, home loans, SME loans, and personal loans. It provides secured business loans from ₹10 lakh to ₹5 crores. The loan process is made fast and transparent with complete flexibility in repayment options to suit the needs of the borrower. As part of the Murugappa Group, CIFCL is committed to enabling customers to achieve a better life through ethical practices and customer-focused solutions.
6. Fullerton India
Fullerton India offers business loans amounting up to ₹50 lakhs with flexible repayment and less documentation. They also offer customized financial support to fulfill the specific needs of the business owners and help them to stay competitive in the market.
7. Aditya Birla Finance Limited (ABFL)
A major NBFC that offers both secured and unsecured loans to cater to different financial needs. With a loan of up to ₹1 crore, ABFL supports MSME businesses with working capital requirements, scaling-up activities, or adding new equipment/machinery. Right from the inception of ABFL, the MSME business has continued to remain a customer of choice for its loans due to superior processing of loan products and fine customer relationship management.
8. IIFL Finance
India Infoline Finance Limited (IIFL) NBFC provides business loans for MSMEs. IIFL offers quick and hassle-free loans of up to ₹50 lakhs. Interest rates are very reasonable as well as the quick disbursement suits the small-time business owners. It is located in every corner of India and the sufficient customer services make it reliable.
9. Shriram City Union Finance
This NBFC provides business loans to SMEs, but apart from the strong features, one notable point that Shriram City can highlight is a customer-friendly approach along with flexible terms. It sanctions loans up to ₹1 crore and thus fulfills the requirements of different businesses.
10. Mahindra Finance
Mahindra Finance offers a diverse range of financial services including vehicle finance, SME loans, home loans, personal loans, and insurance. It provides business loans with easy repayment options without any collateral, with minimal documentation. It is processing the business loan with easy and quick disbursal as well. The company is committed to providing ethical and transparent financial solutions to over 10 million customers.
Conclusion
MSMEs are important to the country as they provide much-needed employment, mainly in rural areas, because MSME exports are also increasing, where the overall support is contributing to the GDP growth. However, small business owners have problems with access to capital affecting their growth potential. The gap, especially in accessing capital, has been supported by NBFCs through providing customized financial solutions to MSMEs. Kinara capital loan is one among the best solutions to cover up this gap in funding for MSMEs.
There are several NBFCs that provide quick business loans with flexible repayment periods. They also educate and guide the SME customers on how they can effectively use the capital better in their business. Some of the NBFCs provide additional support to their MSME customers by offering free workshops digitally where they educate customers on several different business-growth topics.