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Business Loan in Maharashtra

Maharashtra is India’s third-largest state area-wise and has a bustling industrial and services sector that contributes more than 80% to domestic product. Also known as the financial capital of India, Maharashtra attracts investment from both domestic and foreign investors. It is home to the headquarters of most financial institutions including the Bombay Stock exchange, National Stock Exchange as well as Commodity exchanges.

Not only this, the state has a thriving MSME sector engaged in cotton textiles, paper processing, printing, chemical products, rubber, electrical equipment among others. Getting an unsecured Business Loan in Maharashtra is easy if you are a budding entrepreneur or a small businessman struggling with finances to expand your company. Read on to know more.

Features and Benefits of Business Loan in Maharashtra

  • Suits all your needs:

Whether you need funds for procuring raw materials or revamping your business or even expansion such as hiring new staff or upgrading infrastructure, a small Business Loan in Maharashtra is the answer to all your financial needs.

  • Choose how to repay:

With no fixed repayment tenures, you have the freedom to select how you wish to repay the loan as per your comfort between 6 months to 5 years.

  • Collateral-free:

It is hassle-free unlike secured loans which require you to pledge collateral against the loan to a Business Loan provider in Maharashtra.

  • Fast approval:

Save time and lengthy paperwork by applying online by filling in your details and get a loan approved within minutes if you qualify.

Documents Required For a Small Business Loan in Maharashtra

  • Your PAN Card.

  • Identity proof such as Aadhaar Card, Voter ID, Passport or Driving license.

  • Any of the above documents or utility bills as address proof.

  • Last 6 months bank statement.

  • Income proof such as ITR forms, income computation certificate, company balance sheet, Profit and Loss statement of the last few years.

  • Business proof such as a declaration of a sole proprietorship or Partnership deed certificate.

Eligibility Criteria Of a Business Loan Provider in Maharashtra

Following are the eligibility criteria to avail of an unsecured Business Loan in Maharashtra.

 

  • Self-employed professional( Doctors, chartered accountants etc) or non-professional(trader, manufacturer, etc).

  • Age between 25-65 years.

  • A minimum 3-year and maximum of 5-year experience running the business.

  • A minimum annual income of Rs.1.5 Lakhs.

  • Running a business in partnership, limited liability partnership or as a private limited company.

Interest Rates Of Small Business Loan In Maharashtra

Getting an unsecured Business Loan in Maharashtra at affordable interest rates can not only save you money but also be profitable for your company. Here are some factors that influence it:

  • Credit Score:

A high credit score is an indicator of your creditworthiness to the lender and has a direct bearing on your loan interest rate.

  • Experience:

The longer you have been running your company and the more work experience you have, the greater are your chances of getting a Business Loan in Maharashtra at a low interest rate

  • Stable Income:

Knowing that your income is steady, gives the lender assurance of repayment on times and is likely to help you negotiate a favourable rate of interest

How To Apply For a Business Loan in Maharashtra

Applying for an unsecured Business Loan in Maharashtra can be done online on Finserv MARKETS in a few minutes as explained below:

  1. Go to the website and fill the online application form.

  2. Select a Business Loan provider in Maharashtra from the choices available.

  3. Now zero upon the loan amount and tenure and upload the necessary documents to complete submission

  4. Upon verification, the loan is approved and the amount is transferred to your bank account.

The Last Word

Getting a small Business Loan In Maharashtra is a convenient process that can be done from the comfort of your home. Choose from the bouquet of loans available on Finserv MARKETS and get financial aid promptly to rescue your business or take the first steps into your entrepreneurial journey today!

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