Business Loan for Hotels and Restaurants

Hotels and restaurants are now present in every part of the country. Many new entrepreneurs are tapping into the tourism opportunities across India.

This has led to India’s hotel business growing up to a ₹1.89 Lakh Crores industry. Meanwhile, the country’s restaurant business is already estimated to have reached the ₹4.3 Lakh Crores mark.

New and existing businesses need quick and easy funding to stay competitive in the hotel and restaurant sector. This need is being readily met by business loans for hotels and restaurants across the country. Unlike typical bank loans for hotel businesses, these loans are swift, fast, and easily accessible.

If you are a business owner in the hospitality industry seeking hotel loans or restaurant loans, look no further than the Business Loan available on Bajaj Markets. This business loan can be customised to meet the needs of a wide variety of hospitality businesses and is trusted by business owners nationwide.

While several loan products exist in the market, running a hotel or a restaurant business requires funding that offers capital to support the operational needs. This is why hotel business loans available on Bajaj Markets is an ideal choice with its many attractive features. Here are all the features and benefits that can help fulfill the requirements of your hotel or restaurant:

No Collateral

To grow your hospitality business, you need not pledge any of your possessions or business assets as collateral. That is why the unsecured business loan requires no guarantor and zero collateral from your end.

Quick Approval and Disbursal

An ideal hotel or restaurant loan should meet the ever-changing needs of the business in no time. Business Loan on the Bajaj Markets makes this possible. It allows your business loan application to be approved in just 3 minutes. Moreover, you can receive the approved loan amount in a period as short as just 24 hours!

Flexibility of Tenures

A hospitality business can have various financing requirements - some long-term, others short-term. That is why a business loan is an ideal option since it offers business owners their choice of tenures from 12 to 60 months.

Minimal Documentation

As a business owner, you must already have a plethora of paperwork to go through regularly. Keeping this in mind, the business loan at Bajaj Markets minimises paperwork and only requires a few essential documents to process your loan.

Understanding business loan charges is important before applying for one. Hotel loan interest rates and associated charges can vary based on the lender, loan amount, and business profile.

Here is a detailed table:

The eligibility criteria for a hotel and restaurant loan that can be availed through Bajaj Markets have been kept at a minimum to make things easier. 

• If the loan is for an existing restaurant, it has to be in business for at least 6 months

• If the establishment is already functional, they must have a minimum turnover of ₹90,000 over the course of three months preceding the application

• The restaurant must not be on a blacklist for small business loans

• The eatery must be established in a proper location

Along with a fair CIBIL score, the borrower must make sure that they have a certain set of documents before initiating the restaurant loan application process. 

Those documents are as follows:

• Identity Proof

PAN card, Aadhaar Card, Driving License, and Voter ID. Only one of these is going to be required

• Proof of Residence

Electricity bill, water bill, or Ration Card

• Proof of business registration
  

• Deed of Partnership (if there is any)
  

• Passport-size photographs

The hotel and restaurant business loan application process is fairly simple and does not require one to furnish many documents. The process for doing the same is as follows:

1. Apply for the loan online

You can click here to apply for a business loan on Bajaj Markets.

2. Submit the required documents

All necessary documents of the applicant, such as the ones pertaining to the owner’s identity, the restaurant, and its turnover, will need to be uploaded online. This should not take much time, considering that only a small number of documents need to be uploaded.

3. Disbursal

It only takes a few hours to up to a day to review an application for a restaurant loan. If approved, the money will be credited into the account of the borrower within 72 hours.

Whether a small restaurant or a luxurious hotel, your hospitality business can truly benefit from an easy and accessible business loan customised for your specific needs. To that end, consider availing of Business Loan available on the Bajaj Markets, trusted by 100 million customers nationwide. 

As a business owner, you can avail of restaurant loan amounts as high as ₹80 Lakhs with a loan application process that is seamless and transparent. Make sure that you check your business loan eligibility online before applying for the hotel loans. This will help you reduce the chances of your business loan application.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.