₹20 Lakhs Business Loan

When expanding your business, whether through upgrading equipment or launching new initiatives, having the right funding is essential. A ₹20 Lakh business loan can act as an effective capital for these growth plans. Apply via Bajaj Markets to explore a range of lenders and enjoy fast approval with minimal formalities.

Choosing a shorter repayment term can help reduce interest costs, while a longer tenure provides more flexibility with lower monthly payments. For example:

• With a 36-month tenure at 14% annual interest, your monthly EMI would be approximately ₹68,355, with a total interest of around ₹4,60,789. 

• Opting for a 72-month tenure, for the same interest rate reduces your EMI to ₹41,211, though the total interest paid rises to ₹9,67,226. 

This loan can be a great solution to fuel your business growth without impacting your cash flow.

Here is a list of trustworthy lenders on Bajaj Markets that provide ₹20 Lakh business loans for all your business expenses. Compare their interest rates and other highlights:

Your EMI amount and your repayment cost depend on the loan tenure. Let us imagine that you opted for the business loan of ₹20 Lakhs with a 14% yearly interest rate. The following table illustrates how the chosen tenure may affect the instalment amount:

The table below illustrates the amortisation of the business loan up to ₹20 Lakhs:

The table showcases the different fees charged associated with your loan by various lenders:

The eligibility requirements for the loan may differ depending on the lender you choose. However, here are some common requirements you are usually asked to fulfil to secure a ₹20 Lakh business loan:

1. Citizenship: Indian 

2. Age: Between 21 and 60 years

3. Employment: Self-employed professional or non-professional 

4. Business Vintage: At least 1 year

5. Business Turnover: At least ₹1.5 Lakhs per year

6. Business Type: Sole proprietorship, partnership, limited liability partnership, or private limited company

Here is a list of documents you may need to submit when applying for a ₹20 Lakh business loan:

With timely funding, you can strengthen or grow your business for long-term growth. Here are some uses of a ₹20 Lakh loan for business:

• Business Development and Growth

Business loans act as tools for development and growth. They have played a critical role in the success of numerous enterprises. Having access to rapid and substantial capital is essential when opportunities arise to enter new markets, diversify product lines, or establish offices in different locations. 

Business expansion leads to increased income and greater market share. Taking a business loan is one step towards achieving long-term organisational goals.

• Management of Working Capital

Every business needs to manage its working capital effectively to maintain seamless operations. Business loans assist in covering working capital shortages, especially during unexpected or seasonal disruptions. They ensure that the business maintains sufficient funds to meet ongoing operational expenses and obligations.

• Investing in Innovation and Technology

Business loans enable entrepreneurs to adopt modern technologies and embrace innovation. This type of investment reduces costs in the long run, enhances product quality, and provides a competitive edge in the global marketplace. Business loans provide the financial resources required to support such transformative initiatives.

This makes borrowing more cost-effective and results in notable savings.

Follow these simple steps to apply for a ₹20 Lakh Business Loan on Bajaj Markets:

• Click on the ‘Check Eligibility’ button on this page

• Provide your personal and business details

• Enter ₹20 Lakh as your loan amount and choose a suitable tenure

• Submit your application form 

After this, your application will be verified. The lender will reach out to you for further proceedings.