Did you know that Bilaspur is a hub of power generation in India with a large number of power plants located in its vicinity. In fact, the city is home to the second largest NTPC thermal power plant in India - the Sipat thermal power plant. As a result, it is one of the fastest growing cities for businesses and industries in India all of which benefit from its excellent infrastructure, bountiful natural resources, and great connectivity. If you are a small business owner, there was never a better time to start your own venture in Bilaspur. With the ease of doing business having greatly improved over the years, all you need is a Small Business Loan in Bilaspur to become an entrepreneur.
Business Loans are designed to help entrepreneurs start out on their own. As a result, they have some distinctive features such as:
Large Loan Amount - Business capital requirements are often different from those for meeting personal needs or buying a home. This is why Business Loans provide greater assistance in the form of large loan amounts that can go up to Rs. 75 Lakhs.
Flexible Repayment Schedules - A Business Loan can be repaid within 6 to 60 months depending on the convenience of the borrower.
No Collateral Required - Business Loans are unsecured loans. This means that there is no need for the borrower to put up a collateral or a security, making them convenient and easy to apply for.
Disbursal According to Need - Not all business owners have identical needs. This is why Business Loans are disbursed according to the requirements of the borrower.
Not everyone has the business acumen to succeed as an entrepreneur which is why lenders tend to screen applicants according to pre-set criteria before offering Business Loans. If you are applying for an unsecured Business Loan in Bilaspur, you might need to meet the following criteria set by a Business Loan provider in Bilaspur to be eligible:
You should either be a business unit such as sole proprietorship, LLC, etc. or a self-employed individual such as an architect, doctor, lawyer, etc.
Your age should be between 25-65 years.
Your last filed IT return should be no less than Rs. 1.5 Lakhs.
You should have a total business experience of at least 5 years, no less than 3 years out of which should have been in your present line of work.
A Business Loan can be applied for conveniently on Finserv MARKETS. All you need are copies of the following documents:
A copy of a document that certifies that your business is a registered legal entity. This could be a copy of your memorandum of association, letter of incorporation or any other similar document.
A copy of your latest IT return.
A copy of your PAN card along with a copy of your ID/residence proof.
Bank statement of the last 6 months.
Applying for a Business Loan on Finserv MARKETS is simple. Just follow these easy steps:
Log on to the Finserv MARKETS website and head to the Business Loans section. On the right hand side of the page is the Apply Now button. Click on it.
You will be asked to enter your mobile number for verification. Once you enter the number, you will receive an OTP on your phone that you will be required to enter to verify your number.
On the next page you will be asked to enter your personal details such as name, age, etc. You will also be asked to enter your income details to ascertain your eligibility for the loan.
You will then be able to see the complete range of loans from various Business Loan providers in Bilaspur. Each product has its own unique features and benefits and you should select the one that best suits your needs.
Enter the amount of loan. You will also be required to enter a tenure within which you will be able to repay the loan.
Next you will be asked to upload copies of the various documents listed in the previous section.
And that’s it! You're done. Once your application is verified and approved, you will get your Business Loan, credited directly into your bank account.