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Business Loan in Gurugram

Gurugram is known the world over as the millennial city for its futuristic cityscape dotted with high rises, its high quality of life, and its state-of-the-art infrastructure. More than 250 of the global Fortune 500 companies have their offices in Gurugram. At the other end of the scale, the city is also home to thousands of startups. So irrespective of whether you are a large multinational company or a home-grown bootstrapped startup, having a footprint in Gurugram is almost a necessity if you want to access the Indian market. Businesses, whether big or small, need access to capital to grow. If you are a business owner in Gurugram, or are planning to start a business there, read on to find out everything about Business Loan in Gurugram. 

Eligibility Criteria for Business Loan in Gurugram

The eligibility criteria for Business Loans is explained under each head below:

  • Occupation - You can apply for a Business Loan only if you are either a registered business entity or a self-employed professional such as a doctor, CA, lawyer, etc..

  • Age - You must be no younger than 25 and no older than 65 years of age as on the date of applying for the Business Loan.

  • Income- You must have an annual income above a threshold as documented by your last filed IT return which should be no less than Rs. 1.5 Lakhs.

  • Experience - You must have a minimum work or business experience of at least 5 years of which no less than 3 years must be in the line of work or which you are seeking to apply for a Business Loan.

Documents Required for Business Loan in Gurugram 

The following documents are required to apply for an unsecured Business Loan in Gurugram:

  • A copy of the registration of your business such as a memorandum of association, letter of incorporation, sole proprietorship registration certificate, etc.
  • A copy of your last filed income tax return.
  • Copies of your PAN card and any document that serves as a valid residence proof.

  • Bank statement of the last 6 months for the bank account in which you want the Business Loan to be credited.

Features and Benefits of Business Loan

  • Greater Loan Amount - Businesses have different capital requirements than individuals. This is why banks and financial institutions typically offer Business Loans with larger loan amounts of up to Rs. 75 Lakhs.

  • Flexibility of Repayment - Businesses cannot flourish if they are tied down by inflexible regulations. This is why Business Loans come with a flexible repayment schedule varying between 6 to 60 months, giving your business enough room to grow.

  • No Requirement of Collateral - As the old adage goes - in business, things move at the speed of trust. This is why Business Loans do not require any collateral from the borrower, making the borrowing process convenient, fast, and one built on a foundation of trust between the borrower and the lender.

  • Need-based Disbursal - Business Loans are disbursed according to the needs of the borrower to make sure they pay interest only on the amount they need.

How to Apply for Business Loan in Gurugram 

Applying for a small Business Loan in Gurugram is a simple process. Just follow these easy steps:

  • Log on to the Finserv MARKETS website and navigate to the Business Loans page. Click on the red “Apply Now” button on the right hand side of the page.
  • Enter your mobile number. You will receive an OTP on your mobile number which you shall be required to enter for verification purposes.
  • You will now be asked to enter personal details such as your name, age, etc. as well as your income details to ascertain your eligibility for the loan as per the criteria listed in the previous section on Business Loan eligibility.
  • Once you enter these details you will see a complete list of all the Business Loan providers in Gurugram. Go through the details of all the offerings on the page as each financial product is designed to meet specific customer needs.
  • Once you have chosen your preferred Business Loan provider in Gurugram, enter the loan amount that you need and the duration in which you expect to be able to pay it back.
  • Upload copies of the documents required for the loan.

By following the above steps, one can easily apply for a Business Loan in Gurugram. Once your application is processed and approved, the loan amount will be credited to your bank account. We wish you best of luck in your entrepreneurial venture in the millennium city of Gurugram. You can visit Finserv MARKETS for a range of financial products and more such useful information!

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