Restaurant Loans up to 50 Lakh | Instant Approval | Flexible Repayment
✓Minimal Documentation ✓Flexible Repayment ✓Collateral Free Loan | Apply for Business Loan Now!
A wide range of hotels and restaurants can now be found in every corner of the country, with new entrepreneurs making the most of the tourism opportunities available across the nation. This has led to India’s hotel business ballooning up to a $22 billion industry. Meanwhile, the country’s restaurant business is already estimated to have reached the $50 Billion mark. However, for a new or existing business to be a part of this competitive landscape, there is a growing need for easy and quick access to hotel and restaurant financing options. This need is being readily met by customised 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.
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
Just like any other form of lending, a hotel and restaurant business loan attracts certain charges and fees. They are as follows:
Applicable Interest Rate |
Anywhere between 15-27% p.a. |
Processing fee (One-time charge) |
Between 2-3% |
Repayment Tenor Length |
Up to 24 months |
Applicable pre-closure fee |
0 |
The maximum amount that can be borrowed |
From ₹50,000 to up to ₹2 Crore |
Schedule of repayment |
Advance needs to be repaid every month or every two weeks, depending on the agreed-upon terms of repayment |
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:
Apply for the loan online: You can help yourself to the business loan application page on Bajaj Markets.
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.
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.
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.
