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Business Loan in Nellore

Nellore is a scenic city located on the banks of the Penna River in Andhra Pradesh. Its proximity to the sea in the midst of land that is fertile makes it a prominent agriculture and fisheries hub. Several people in Nellore have businesses affiliated to this large industrial network and getting a business loan in Nellore is relatively easy. People see it as a way of funding working capital needs in small businesses and it gives businesspeople the boost they need. Besides agriculture, Nellore also manufactures batteries and has a booming leather industry. If you want to begin a business journey in Nellore, this article can shed some light.

The Eligibility Criteria for a Business Loan in Nellore

Before you apply for a small business loan in Nellore, you have to fulfil some eligibility criteria that loan issuers require. Read on to know them:

 

  • You must be between 25-65 years old

  • You have to be self-employed

  • You must have a total of 5 years of work experience, with 3 years in your present business

Documentation Required for a Business Loan in Nellore

When you know the criteria for eligibility, you can work on the next steps for your business loan provider in Nellore approving your loan. You need to have these documents:

  • A PAN Card and an Aadhaar card that prove your identity, age and residence. Alternatively, you can submit your passport, voter ID or driving licence.

  • Income Tax Returns for the last 3 years, including computation of income, balance sheet and profit and loss statements

  • Your bank statements for the past 6 months

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

Features and Benefits of a Business Loan

The following features and benefits of an unsecured business loan in Nellore will prompt you to take one:

  • You can borrow up to Rs. 75 Lakhs.

  • Competitive interest rates starting from 18% are available.

  • This is an unsecured loan, so you do not have to submit a collateral.

  • The application process is online; you can get approval in a matter of 2 minutes and funds in your bank account typically within 24 hours.

  • Flexible loan tenures up to 5 years are available.

How to Apply for a Business Loan

With your eligibility in order and your documents organized, you are ready to apply for a business loan in Nellore with the following steps:

  1. Go to the Finserv MARKETS website and visit the business loan page.

  2. Click on ‘Apply Now ’. You will see the application form. Fill in your personal and professional details.

  3. Select a loan offer from your preferred lending partner.

  4. Enter details such as the loan amount you require and the tenure.

  5. Submit your application.

Final Say

After a process of verification and loan approval, funds are disbursed in your bank account directly. At Finserv MARKETS, you can apply for a number of loans, and you get the best business loans that match your professional needs. 

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