Business Loan in Agra

Name: SMFG India Credit - Business Loans In Agra
Telephone: 1800 103 6001
Price range: Upto Rs. 75 Lakhs

Get your Business Loan Approved in Minutes

Agra, a city nestled along the banks of the Yamuna River, is a captivating blend of historical grandeur and modern vitality. Renowned worldwide for the iconic Taj Mahal, a testament to eternal love, Agra stands as a symbol of India's rich cultural heritage. The city's strategic location and robust infrastructure have attracted businesses, fostering a vibrant entrepreneurial spirit.

Business owners in Agra often seek loans to expand production, enhance services, and tap into the burgeoning tourism industry, driven by the iconic Taj Mahal. Let’s discuss the features, eligibility criteria, documentation requirements, and application process to avail a business loan in Agra hassle-free.

Features And Benefits Of Business Loans In Agra:

Flexible Repayment Plans:

Entrepreneurs in Agra can repay their business loans comfortably over a period of up to 48 months*, aligning with their cash flow and ensuring manageable repayment schedules that suit the city's varied businesses.

Capital Assistance:

Agra's entrepreneurs can access quick and hassle-free financing ranging up to INR 75 lakhs* for their small businesses. Competitive interest rates ensure the city's businesses have a low cost of capital, ultimately enhancing their profitability and sustainability.

Swift Approval Process:

Recognizing the significance of timely business opportunities in Agra, small business loans are processed within 72 hours*. This swift approval ensures that entrepreneurs can seize important opportunities without delays, fostering business growth in the city.

Simplified Documentation:

Transparent eligibility criteria and minimal paperwork streamline the loan application process for Agra's entrepreneurs. This simplicity reduces the hassle, making the application process smooth and efficient, allowing business owners to focus on their operations.

No Need for Collateral:

Business owners in Agra can secure collateral-free business loans without pledging personal or business assets. This approach minimises financial risks, enabling entrepreneurs to focus on growing their businesses without concerns about collateral, promoting a vibrant business ecosystem.

Easy Online Application Process:

SMFG India Credit provides a 100% paperless online application process, which allows for a hassle-free journey.

Eligibility Criteria For Business Loans In Agra:

Eligible Entities: Self-employed individuals, proprietors, partners, or directors of existing businesses can apply, ensuring diverse entrepreneurs can access support.
Nationality: Applicants must be resident Indians.
Age Criteria: Applicants should be aged between 22 and 65 years.
Turnover Requirement: The business must have a minimum annual turnover of INR 10 lakhs, supporting businesses of a certain scale.
Profit After Taxes: The business should demonstrate a profit after taxes of INR 2 lakhs per annum, showcasing financial stability.
Business Experience: Operational for at least 3 years, demonstrating stability and experience. Stable income and profits for the past 2 years are required, indicating financial sustainability.
Credit Score: Applicants must have a CIBIL score of 750 or higher, emphasising the importance of a strong credit history in loan approval.

Interest Rates For A Business Loan In Agra:

SMFG Credit tailors business loans in Agra by assessing applicants' credit scores, business turnovers, and financial backgrounds. Interest rates are customised for individual profiles, ensuring competitiveness and suitability.

Particulars	Rate
Interest Rate	The lowest and most competitive interest rates will be calculated based on several factors (location, net income, business stability, collateral, and existing monthly obligations)
Loan Amount	Upto INR 75 lakhs*
Loan Tenure	Upto 48 months*
Lowest EMI Per Month	Starting from INR 1,341 for 48 months
Cheque Dishonoured Charges	INR 300
Processing Fees	Up to 2.75% of loan amount + GST
Customer Type	Proprietor / LLP/ Pvt Ltd / Partnership / Public Ltd
Late Payment Charges	2% plus GST charged monthly (24% per annum) on the overdue amount calculated on day-to-day basis.

Documents For Business Loan In Agra:

At SMFG India Credit, applying for a business loan requires essential documents for verification, including standard KYC documents (PAN, address proof), bank statements, and pertinent business records. Here is a summary for your convenience:

Document Type	Document
Identity Proof	For a company, firm, or individual - a valid identity proof and PAN Card
Address Proof	Passport, Voter ID Card, Ration card, or Driving License
Bank Statements	Latest Bank Statements for the past 6 months
Income Documents	Most recent two years' Income Tax Returns (ITR), along with the income computation, balance sheet, and profit and loss account for those same two years, following the necessary certification by a Chartered Accountant.
Proof of Continuation	ITR/Trade license/Establishment/Sales Tax Certificate
Other Documents	Sole Proprietorship Declaration or a certified copy of the Partnership Deed if applicable; a certified true copy of the Memorandum and Articles of Association, authenticated by the company director; and the Board resolution.

How To Apply For A Business Loan In Agra:

To apply for a loan with SMFG India Credit, follow these steps:

Visit the Application Page: Go to SMFG India Credit's Apply Now page on their official website.

Complete the Application: Fill in all the necessary details and upload the required documents.

Provide Personal and Financial Information: Enter your personal and financial information accurately in the application form.

Verification Process: Your application will go through stages of verification, including document validation and address verification.

Personalized Loan Offer: If eligible, you will receive a personalised loan offer specifying the approved loan amount and applicable interest rate.

Loan Disbursement: Upon approval, the loan amount will be directly disbursed to your designated bank account.

Conclusion:

SMFG India Credit simplifies the loan application process for businesses in Agra, providing easy access to loans up to INR 75 lakhs*. With competitive interest rates, businesses can obtain financial support without the usual complications associated with traditional lenders. This user-friendly option ensures a seamless application experience, offering businesses in Agra a straightforward solution. Start your business loan application and facilitate your business growth journey.

*T&C Apply

Apply for Business Loan

* 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.

Contact Us

Branch Address 1

First Floor, E-12/8, Sri Vrindavan Complex, Sanjay Place, Agra - 282001

Branch Address 2

Ground and First Floor, Sector-16 A/204, HIG, Awas Vikas Colony, Agra, Uttar Pradesh - 282 011

Note: Call on (Toll free number) 1800 103 6001 for more information.Timings: 9:30 AM to 6:30 PM (except 1st Saturday and Sundays and public holidays).

FAQs

How is my business loan in Agra eligibility calculated?

Your business loan eligibility is calculated considering various factors, such as your location, credit history, bank balance, income level, and your overall financial profile. Ensure that you have a strong credit score of 750 and above with a clean and punctual track record of clearing your outstanding dues.

What are the advantages of applying for an online business loan in Agra?

SMFG India Credit offers hassle-free business loans without the need for collateral, providing borrowers with flexible repayment options and a seamless online application process. Businesses can swiftly secure loans up to INR 75 lakh*, often within 72 hours*, due to transparent eligibility standards. Additionally, the borrowing experience is enhanced through pre-approved offers and convenient online account management features.

How to get a lower interest rate on my business loan in Jalgaon?

Securing a lower interest rate for your business loan depends on various critical factors. Your geographic location, net income, business stability, collateral presence, and existing monthly financial commitments all significantly impact your ability to obtain a more favourable interest rate. Lenders consider these aspects carefully to determine the rate that aligns with your financial profile, ensuring you secure a loan with advantageous terms.