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Business Loan in Amravati

Situated in the heart of Maharashtra's Vidarbha region, Amravati has immense cultural, spiritual and religious significance in the state. The city boasts of the Gawilgarh fort, Ambadevi temple and the Melghat tiger reserve. Other than its rich historical and cultural landmarks, Amravati is also the second-largest metropolitan city in the Vidarbha region after Nagpur. This makes it the site of immense economic potential and a fertile ground for small businesses.

The city is transforming into a burgeoning industrial hub, with many special economic zones (SEZs) being established to make the district more business-friendly. Automobile repair and general engineering, textile, cotton ginning and pressing, metal ware, and other industries are among the important industries. Expand your business in Amravati with a Business Loan available on Finserv MARKETS.

How to Apply for a Business Loan in Amravati

You can gain access to Business Loan providers in Amravati through Finserv MARKETS. Here’s how you can apply for a Small Business Loan in Amravati–

  • Access the online application form and fill out your employment and personal details in it.

  • From a list of various vendors offering Business Loans, choose the offer best suited to your business needs.

  • Select the loan amount you wish to avail and mention the tenure over which you will repay your loan.

  • Scan the required documents and upload these soft copies with the online application.

  • Click submit on your application for a Business Loan. After this, you need only wait for the lender’s approval.

  • The loan amount will be credited to your bank account.

Documents Required for an Unsecured Business Loan in Amravati

Here are all the documents you will require to get a Business Loan in Amravati-

  • PAN card as identity proof.

  • Certified copies of the balance sheet, profit and loss statement and income statement for the past two years for your business along with income tax return (ITR) form.

  • Driver's license, passport, voter ID, Aadhaar card and utility bills as address proof.

  • Bank account statements for your business for the previous six months.

  • Authenticated copies of the sole proprietorship declaration or partnership deeds and a copy of the Memorandum and Articles of Association.

Features, Fees and Interest rates

  • The interest charged on these Business Loan is between 1.5 and 2% per month, while the processing fee is 2 to 3% of the loan amount.
  • Businesses making a turnover of over Rs. 90,000 per three months are eligible for these Business Loans.

  • The loan amount offered to applicants of these Business Loans is between Rs. 50,000 and Rs. 75 Lakhs..

  • The maximum tenure for this Business Loan is up to 60 months with pre-closure charges of up to 4%.

Who is Eligible for a Business Loan in Amravati

  • Self-employed individuals are eligible for an unsecured Business Loan in Amravati.

  • Professionals who are self-employed like doctors and chartered accounts, and non-professionals like traders and manufacturers are among those eligible.

  • These self-employed applicants must be between 25 years and 65 years of age.

  • Private limited companies, partnerships, and limited liability partnerships can apply for these Business Loans

Benefits of a Small Business Loan in Amravati

  • No collateral:

Entrepreneurs can get an unsecured Business Loan in Amravati without pledging a security against it.

  • Large loan amount:

Loans of up to Rs. 75 Lakhs can be availed of by entrepreneurs. This amount is usually used to fund a number of business operations and expansions. Raw materials can be bought, and existing infrastructure upgraded using this.

  • Tenure:

Loan can be repaid over 6 to 60 months.

Entrepreneurs can get unsecured Business Loans of up to Rs. 75 Lakhs with Finserv MARKETS without pledging any collateral against the loan amount. They can repay this loan over a flexible tenure and up to 60 months. Apply for a Business Loan in Amravati with Finserv MARKETS immediately!

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