Description
WHAT is BUSINESS LOANS?
Business loans are fairly generic term used for different types of finance options that a business can require. This is unsecured income-based loans for self-employed individuals or companies.
Unsecured business loans have no requirement for a security or collateral to be submitted and are offered purely on the current financial strength and past credit record of the borrower.
Business Loan is relatively easy to avail with simple paper work and speedy processing. However, that also means that Business loans are usually costlier than other forms of secured business finance.
Business loans are available in the range of Rs. 5.00 lac to Rs.75.00 lacs depending on the income eligibility of Firm or Company .
BUSINESS LOANS MAY BE USED FOR:
Business loans are fairly generic term used for different types of finance options that a business can require. This is unsecured income-based loans for self-employed individuals or companies.
Unsecured business loans have no requirement for a security or collateral to be submitted and are offered purely on the current financial strength and past credit record of the borrower.
Business Loan is relatively easy to avail with simple paper work and speedy processing. However, that also means that Business loans are usually costlier than other forms of secured business finance.
Business loans are available in the range of Rs. 5.00 lac to Rs.75.00 lacs depending on the income eligibility of Firm or Company .
BUSINESS LOANS MAY BE USED FOR:
- Business Expansion
- New Office Setup
- Marketing & Branding
- Business Improvement
eligibility CRITERIA
- Last 2 or 3 years business financials (Income Tax Returns & Business Turn Over )
- Business vintage Years in business and current level of business activity.
- Nature of the industry & business operates in recent times.
- Current obligations (Any existing EMI’s being paid & Credit limit CC & OD available )
- Your Financial history & track record including CIBIL scores if available
We OFFER
- Loan with simple documentation, quick processing and disbursal.
- Enjoy the convenience of doorstep service.
- Get the best in market interest rate for your Business Loan.
- You need not worry about collaterals or guarantors.
TENOR
The tenor of business loan ranges from 12 months to 60 months. However it should be noted that tenor is the discretion of the bank and also in most of the case, the tenor is restricted to 36 months.
A few banks offer 60 months tenor to professionals like Doctors, CAs etc.
PROCESSING FEE
- Yes, we have to pay processing charges as decided by the bank its vary to 2.00 % to 1.50%.
- I can’t charge anything to customer like consulting fee in Business Loan.
REPAY OF BUSINESS LOAN
Business loans are generally repaid by way of equated monthly instalments (EMI) where interest & principal amount included.
RATE OF INTEREST
Rate of interest is a factor of prime lending rate (PLR) as announced by respective banks. Its all depend your business turn over and Net Profit of your firm or Company its likely
Manufactures & Traders 17% to 19%*
Doctors & Professionals 11% to 14%*
*Conditions Apply
ELIGIBILITY
The Four C’s :
Character –
Credit score(CIBIL Score) , He/Her previous Loan History, Willingness to Repay.
Capacity (Cash Flow) –
Financial Leverage , It’s what is left over at the end of the month than can used to repay dept after all of your other expenses are met.
Capital –
Working Capital , Ability to Borrow , Firms on book Net Worth.
Conditions –
Industries Like Manufacture Unit & Traders who are in good condition in terms of working capital require in the business.
Top Customer
1.Hariom Aquaculture PVT LTD
2.Radhe infrastructure
3.Jalaram Earth Movers
4.Veer Enterprise
5.Jay Optician
6.Mahek Fashion
7.Sai Leela Tapes
8.Om kar Diagnostics
9.Sannari
10.Sajani Materials
हिन्दी 
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