Unsecured Business Loans Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to unsecured business loans market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Unsecured Business Loans Market News

in Unsecured Business Loans Market
  • In October 2024, Arka Fincap Limited has launched a new product, namely, 'Uday' offering Small Ticket Loans Against Property (STLAP). The loans are being provided to the promoters of the micro, small, and medium enterprise (MSME) ranging from ₹30 lakh to ₹10 lakh. The scheme is intended to address rising credit requirements of small businesses in Tier II, III, and IV towns, providing necessary financial backing for their expansion and development.
  • In August 2024, Gurugram retail lending firm Lendingkart has joined hands with Tata Capital Limited, the financial services business of the Tata Group, to distribute unsecured business loans to Micro, Small, and Medium Enterprises (MSMEs) in India. They both aim to provide access to finance to MSMEs through Lendingkart's online platform to make it more convenient and accelerate the lending process.
  • In August 2024, L&T Finance (LTF), in association with its co-lending partner Newtap Finance—a non-banking financial company with experience in digital lending and risk assessment—will be offering these loans. Through this association, Cred members will be able to access credit in minutes, along with flexible repayment tenors and competitive rates of interest.
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Global Unsecured Business Loans Market size was valued at USD 4.2 Billion in 2023 and is poised to grow from USD 4.7 Billion in 2024 to USD 10.9 Billion by 2032, growing at a CAGR of 11.2% during the forecast period (2025-2032).

​The global unsecured business loans market is intensifying in competition, with financial institutions and fintech companies adopting innovative strategies to address the financing needs of small and medium-sized enterprises (SMEs). 'American Express Co. (US)', 'Axis Bank Ltd. (India)', 'Bank of America Corp (US)', 'Bank of China (Hong Kong) Limited (China)', 'Bank of Ireland (Ireland)', 'Clix Capital Services Pvt. Ltd. (India)', 'Funding Circle Ltd (UK)', 'HDB Financial Services Limited (India)', 'HDFC Bank Ltd (India)', 'JPMorgan Chase and Co (US)', 'Poonawalla Fincorp Ltd. (India)', 'Starling Bank Limited (UK)', 'Toronto-Dominion Bank (Canada)', 'Wells Fargo and Co. (US)', 'Enova International Inc. (US)', 'Hero FinCorp Ltd. (India)', 'Business and Enterprise Finance Ltd. (UK)', 'Bajaj Finserv Ltd. (India)', 'Deutsche Bank AG (Germany)', 'IDFC FIRST Bank Ltd. (India)'

In today's dynamic business environment, companies typically face unexpected expenses, supply chain interruptions, or seasonal fluctuations that require working capital on the spot. Unsecured business loans offer quick financial relief without requiring collateral, allowing companies to remain liquid and in business. The speed and convenience of access to these loans make them extremely popular during uncertain economic conditions, like periods of inflation or post-pandemic rebounds. This readiness to respond affirms business continuity and competitiveness and, by association, unsecured loans as a vital vehicle for businesses requiring immediate short-term finance to address changing operating needs.

Is Asia-Pacific Leading the Global Unsecured Business Loans Market?

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Global Unsecured Business Loans Market
Unsecured Business Loans Market

Report ID: SQMIG40G2016

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