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Traders are a vital link between the manufacturers of goods/commodities and the consumers. SMFG India Credit’s business loan for traders aims to provide hassle free finance to traders and to meet business and financial needs at competitive interest rates. Any individual or a firm (partnership or proprietorship) engaged primarily in buying and selling of goods is eligible for this scheme. We offer customised solutions for wholesalers, traders and retailers.
With SMFG India Credit Business Loan for Traders, you can meet your daily business needs such as purchase of goods and services, working capital, furnishing, renovating existing business premises, purchase of new equipment etc.
Features And Benefits
Unsecured Financial assistance up to 75 Lakhs*
Get financial assistance to start a new business venture or boost existing operations.
Preferential Interest Rates
Business loans for traders are available at an extra special rate of interest!
Apply online
From loan application to approval, you can initiate the process online.
Insurance
We provide insurance cover for your loan
No collateral*
Business loans for traders are available without any collateral*.
Flexible repayment options
Choose a convenient repayment timeline between 12 and 48 months.
*Terms and Conditions apply
* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.
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FAQs
Is there any age eligibility criterion for me to apply for a Business Loan
You need to be at least 22 years of age to apply for a Business Loan under the 'Self Employed Business Category'. A relaxation of 2 years will be made if you are a non-professional. You cannot exceed 65 years of age at the time of Loan Maturity.
Are there any eligibility criteria that my business entity should meet for me to apply for a loan?
Yes, the annual turnover of your business should be between 10 Lakhs and 100 Crores*. Further, your business needs to be in continuity for the last 3 years showing positive trends in turnover and profit for the last 2 years. Your Income Tax Returns of the last 2 years should reflect taxable income of above 2 Lakhs per annum.
*Should your turnover be above 30 Crores, please refer to the SME Loans section to understand the solutions that are designed for the SME segment.
What is a Business Installment Loan?
Business Installment Loans are the loans, which are used to meet medium term working capital needs.
How can I repay my Business Loan?
You can repay the loan in equal monthly installments (EMIs). The loan can be repaid through post-dated cheques. You can also repay through an ECS mandate to your bank.
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