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Business Loan in Ludhiana

Taking a business loan in Ludhiana, one of the largest cities in Punjab, is easy. This is a city that is conducive to business as it is the center of manufacturing for auto parts, apparel, hosiery and bicycles. The World Bank ranked the city as the best business hub in India in 2003 and 2013. Furthermore, it's interesting to note that 60% of all of India’s tractor components are manufactured in Ludhiana. Suppliers and traders are, therefore, in multitudes in Ludhiana and it's easy to find a business loan provider in Ludhiana to meet working capital requirements for any business. Let’s have a look at what aspects you need to consider before taking a business loan in Ludhiana. 

Eligibility Criteria for a Business Loan in Ludhiana

To get a business loan in Ludhiana, you must meet the following eligibility criteria:

 

  • Be self-employed

  • Be between 25 and 65 years of age

  • Have business experience of a total of 5 years, and 3 years in your present business.

Documents Required for a Business Loan in Ludhiana

You can get any business loan, including a small business loan in Ludhiana, provided you furnish the following documentation:

  • A PAN Card/Aadhaar Card as proof of identity/age

  • Any documents, including those mentioned above, as your address proof (passport, utility bills, voter ID and driving licence is also permitted)

  • Your bank statement of the last 6 months

  • Income Tax Returns for the last 3 years (with income computation, profit and loss and balance sheet)

  • A Declaration of Sole Proprietorship, certified Partnership Deed copies, or a certified copy of Memorandum and Articles of Association.

Benefits/Features of a Business Loan in Ludhiana

Here is what you would get in terms of benefits and features in an unsecured business loan in Ludhiana:

  • Loans of up to Rs. 75 Lakhs can be availed of.

  • An easy online application process can help you get approval on loan in just 2 minutes.

  • Interest rates are attractive, starting at 18%

How to Apply for a Business Loan in Ludhiana

You can apply for a business loan by visiting the website of Finserv MARKETS Loan and follow these steps:

  1. Click on ‘Apply Now’ and an application form will be displayed.

  2. Fill in the form online with your personal and business details.

  3. Choose a lender and a loan offer.

  4. Enter your loan details like the amount, tenure, etc.

  5. Submit your details.

Once the application is verified and approved as a result, you will get funds into your bank account.

To Conclude

Now you know how simple it is to avail a business loan in Ludhiana, there’s nothing stopping you from visiting Finserv MARKETS to grab one and get your business going. 

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