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Located in the state of Gujarat, Morbi is a small city that flourishes regarding business and trade. This has been the case for years. There are large industrial houses that have plants in Morbi, and many small ones take their place besides these too. Primary industries constitute ceramics, lighting and manufacturing of clocks. Vitally, Morbi produces 12% of the world’s ceramic and 70% of India’s total ceramic products. Moreover, Morbi is responsible for producing 80% of CFL lights in India. Another fact in Morbi’s favour is that it produces the largest amount of wall clocks in the country. As many businesses thrive in Morbi, and are part of the main supply chain that facilitates industry, getting a business loan in Morbi is easy and here we tell you how. 

Eligibility Criteria for a Business Loan in Morbi

Meeting eligibility criteria is a first step towards getting a small business loan in Morbi, and here is what it is:

 

  • You are required to be in the age bracket of 25-65 years.

  • You have to be self-employed.

  • You must have total business experience of at least 5 years, and 3 years in your existing business.

Documents Required for a Business Loan in Morbi

Apart from meeting eligibility criteria, you also have to submit the following documentation for verification before your business loan provider in Morbi approves your loan:

  • A PAN Card/An Aadhaar Card - These provide loan issuers with your proof of identity and proof of address/age. You may also provide other documents that validate your credentials, like utility bills, voter ID, passport and driving licence

  • Your bank statements of the last 6 months

  • Your Income Tax Returns of the last 3 years, including income computation certified, balance sheets and profit/loss statements

  • A Declaration of Sole Proprietorship, Partnership Deed certified, or Memorandum of Articles of Association certified copies

Features and Benefits of a Business Loan in Morbi

If you want to know about the advantages you get with an unsecured business loan in Morbi, read on:

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

  • The online application process is quick and easy and you can get approval in 2 minutes.

  • Flexible tenures of repayment, up to 60 months, are available. With a facility of Hybrid Flexi Loan, you can make repayments only on the loan amounts availed of.

  • Business loans are unsecured loans.

  • Loan amount disbursal is fast, generally within 24 hours.

How to Apply for a Business Loan in Morbi

Applying for a business loan in Morbi is convenient and you can do it in the following steps:

  1. Go to the business loan page of Bajaj Markets.

  2. Click on ‘Apply Now’ and you will see a loan application form.

  3. Enter your information and details in the form.

  4. Select your preferred lender.

  5. Enter the required loan amount and tenure.

After a process of evaluation and verification, your application will be approved and funds will be transferred to your bank account.

Concluding Words

How simple it is to get a business loan in Morbi! With a simple online process at Bajaj Markets, you can get a business loan to pay for your working expenses and get your business rolling. 

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