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Business Loan in Nagpur

Nagpur is one of the largest cities in central India. It is also an emerging business and commerce hub with many small and large businesses having their base in and around Nagpur. Its centralised location, being more or less equidistant from major industrial hubs in India such as Hyderabad, Mumbai, and Ahmedabad make it an ideal location for starting up and growing a business. If you are a small business owner, you may consider taking a Small Business Loan in Nagpur for scaling up your operations to the next level.

Features and Benefits of Business Loan

Business Loans have several benefits such as:

  • Large Loan Amount –

 

Applying for a Business Loan allows you access to a large amount of capital as you can borrow up to Rs. 75 Lakhs when applying for a Business Loan.

 

  • Flexible Repayment Tenures –

 

Business Loans have flexible repayment tenures varying from 6 months to 60 months so that business owners can pay according to their convenience.

 

  • No Need for Collateral –

 

Business Loans are unsecured loans. This means that there is no need for the borrower to pledge an underlying asset to guarantee the loan. This greatly simplifies the loan application process and also allows a measure of security to the borrower. This is why if you are a small business owner, applying for an unsecured Business Loan in Nagpur is a convenient and hassle-free way of meeting your growing business needs.

 

  • Need-based Disbursal

 

You can take a Business Loan according to the specific requirements of your business, be it capacity expansion, hiring new staff, research & development, and so on.

 

Eligibility Criteria for a Business Loan in Nagpur

Given their various benefits, Business Loans are only offered to select individuals. You must meet the following eligibility criteria to avail of a Business Loan.

  1. You should either be a self-employed individual ( doctor, CA, etc.) or a business unit (sole proprietorship, partnership, private ltd. company, etc.)

  2. You should not be younger than 25 and older than 65 years of age.

  3. You should have filed an income tax return of at least Rs. 1.5 Lakhs in the last assessment period.

  4. You should have been in your current line of work for at least 3 years, and additionally, should have a total business experience of at least 5 years.

Documents Required for a Business Loan

All you need to apply for a Business Loan on Finserv MARKETS are copies of the following documents:

  1. A copy of the sole proprietorship, partnership deed, memorandum of association, or any other document certifying the existence and registration of your business with the government.

  2. Copy of the last income tax return filed.

  3. Copy of your identity proof such as Aadhaar card or Voter ID card.

  4. Copy of your PAN card.

  5. Last 6 months’ bank statement.

How to Apply for a Business Loan

Applying for a Business Loan on Finserv MARKETS is simple and hassle-free. Just follow these easy steps:

  1. Log on to the Finserv MARKETS website and navigate to the Business Loans page. Click on the Apply Now button on the right-hand side of the page.

  2. Next, enter your registered mobile. You will receive an OTP on your number. Enter the OTP to verify your mobile number.

  3. Enter your personal and income details.

  4. On the next page, you will see a list of loan offers with different features and benefits from the various Business Loan providers in Nagpur. Select the one that best suits your needs. Make sure to check the eligibility criteria for each loan before applying.

  5. Enter the amount of loan you desire and our preferred repayment period.

  6. Upload the necessary documents.

And that's it. You are done. Once you submit your application it is sent for verification and approval. Post-approval, the loan amount is credited into your account without any hassles.

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