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Business Loan in Mysuru

Once one of India’s most opulent kingdoms, Mysuru is today a bustling center of trade. The city is home to several traditional industries, which results in many citizens availing a Business Loan in Mysuru.

Why Get a Business Loan?

Getting a Small Business Loan in Mysuru at Finserv MARKETS, can help you explore a range of opportunities. Read below to learn more.

  1. Start-up Business Loan could be availed to launch your idea into the operations stage.

  2. Business Loan for women is tailored specifically to help women entrepreneurs successfully launch and expand their business.

  3. Working Capital Loan is ideal for those with an existing business, who wish to expand their business, and even for hiring new personnel.

  4. MSME Business Loan is customised to meet the needs of micro, small and medium (MSME) businesses.

  5. An Equipment Machinery Loan could help you upgrade your existing equipment, repair damaged equipment or even purchase new equipment.

Features & Benefits of a Business Loan

There are several benefits offered by a Small Business Loan in Mysuru, which can be availed through Finserv MARKETS.

  1. Loans upto Rs. 75 Lakhs can be availed at once for business purposes.

  2. These flexible loans can be repaid over a tenure ranging from 6 to 60 months

  3. No collateral is required for availing these loans, which makes them a great opportunity for those looking to launch their business.

Eligibility Criteria for a Business Loan

It is essential to understand whether you qualify for availing an unsecured Business Loan in Mysuru. Read on below to learn the eligibility criteria and whether you can avail the loan.

  1. The loan applicant must be a self-employed Indian citizen, aged between 25 to 65 years

  2. The applicant must have overall business experience of 5 years, and must have been engaged in this particular business for 3 years.

  3. The minimum annual income, as per ITR, must be Rs. 1.5 Lakhs per annum.

  4. Additionally, business units, such as a private limited company or a limited liability partnership, may also apply for the loan.

Documents Required for a Business Loan

While applying for a Business Loan, there are several documents that you are required to furnish along with your application for a Business Loan in Mysuru. Read on below to learn what you need.

  1. PAN Card

  2. Proof of identity, such as Aadhaar card, voter’s ID, driving license, etc.

  3. Proof of residence, such as Aadhaar card, passport, utility bills, etc.

  4. Bank statements for at least the last 6 months

  5. ITR form along with certified copies for income computation, profit and loss statements for the last 2 years

  6. An authenticated copy of the Partnership Deed or a Sole Proprietorship Declaration

  7. Certified copy of the Memorandum and Articles of Association.

How to Apply for Small Business Loan in Mysuru

Applying for an unsecured Business Loan in Mysuru is a 4-step process through Finserv MARKETS.

  1. Fill in your personal and financial details into the online form.

  2. Choose your preferred Business Loan provider in Mysuru from the options available to you.

  3. Select the amount you wish to avail and a suitable repayment tenure.

  4. Submit your application along with the required documents.

Once your loan application is approved, you will be notified immediately. Once the funds are disbursed, you can begin using the funds for growing your business.

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