Get a Business Loan in Aurangabad

Name: SMFG India Credit - Get a Business Loan in Aurangabad
Telephone: 1800 103 6001
Price range: Upto Rs. 75 Lakhs

Apply Now

Get your Business Loan Approved in Minutes

Apply Now

Located in the heart of Maharashtra, Aurangabad is a vibrant city celebrated for its rich industrial heritage, bustling markets, and flourishing business sector. Whether you're an experienced entrepreneur or a newcomer in the business world, a solid understanding of the business loan landscape in Aurangabad is pivotal for aligning your financial decisions with your aspirations.

Features And Benefits Of Business Loans In Aurangabad :

No Collateral Required: These business loans provide unsecured financing, meaning you can access the funds you need without the need for collateral.

Flexible Repayment Tenure: SMFG India Credit's business loans come with flexible repayment terms, allowing individuals to synchronize their payment schedules with their cash flow, ensuring financial convenience and ease.

Simple Online Application: You can effortlessly submit a business loan application on our easy-to-use platform. If you prefer, we also offer the option to apply in person for a business loan in Aurangabad.

Capital Support: Gain rapid and readily accessible funding, with the potential to secure amounts of up to INR 75 lakh* tailored for small businesses.

Expedited Approval: Secure business loans within 72 hours* of final approval, thanks to transparent eligibility criteria and minimal documentation requirements.

Customized Solutions: Discover customized pre-approved offers designed to meet your specific capital needs and even request an increased loan top-up.

Convenient Account Management: Oversee your business loan account from any location and using any device.

Business Loan Calculators: SMFG India Credit’s business loan eligibility calculator and business loan EMI calculator help you plan your loans efficiently and effectively.

Eligibility Criteria For Business Loans In Aurangabad:

Nationality: The applicant must be a resident of India.

Age: The applicant must be between 22 and 65 years old.

Experience: If applying as a self-employed individual, you must have a minimum of 3 years of experience in your current business and a total business experience of 5 years.

Business Profits and Turnover: Your business should have been a profit-making enterprise for the past 2 years with a minimum annual turnover of INR 10 lakhs and a minimum annual income of INR 2 lakhs.

Minimum CIBIL Score: The basic eligibility check considers factors such as a CIBIL score (a minimum of 750) and other factors.

Please note that final eligibility is subject to SMFG India Credit's policies at the time of the loan application.

Documents For Business Loans In Aurangabad:

When applying for a business loan in Aurangabad with SMFG India Credit, you'll need to provide important documents, including:

Document Type	Document
Identity Proof	For a company, firm, or individual - a valid identity proof and PAN Card
Address Proof	Voter ID Card, Ration card, Passport, or Driving License
Bank Statements	Latest Bank Statements for the last 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.

Interest Rates For Business Loans In Aurangabad:

SMFG Credit tailors business loans in Aurangabad to suit the unique profiles of each applicant:

Particulars	Rate
Interest Rate	Interest rates are calculated based on several factors (location, net income, business stability, collateral, and existing monthly obligations), and remain competitive and as minimal as possible.
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.

How To Apply For A Business Loan In Aurangabad:

These are the easy steps to apply for a business loan in Aurangabad :

Step 1: Visit SMFG India Credit's Apply Now page.

Step 2: Complete the application form with the required details and upload all necessary documents.

Step 3: Provide the requested personal and financial information within the application.

Step 4: Receive immediate feedback regarding the progress of your application.

Step 5: Your application will undergo various verification stages, including document validation and physical address verification.

Step 6: If you’re eligible, you will receive a tailored loan offer specifying the loan amount and applicable interest rate.

Step 7: After approval, the loan amount will be disbursed directly to your designated bank account.

Conclusion:

For your financial support needs, SMFG India Credit is your go-to source for business loans in Aurangabad. Our services have been thoughtfully crafted to guarantee prompt and hassle-free disbursement of funds, addressing a wide spectrum of financial needs.

In summary, SMFG India Credit stands as your reliable partner in Aurangabad, offering fast, flexible, and dependable business loan solutions.

*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

Ground & First Floor, Ajinkya Tara, Atharva Classic, Plot No:-A 3, Beed Bypass Road, Opp. MIT college, Aurangabad - 431 001, Maharashtra

Branch Address 2

Plot 2/16, office No.101,102,103,104,105 & 106 1st Floor, Shankar Plaza, Sahakar Bank Colony, Shahnoorwadi, Darga Road, Ch. Sambhaji Nagar, MH- 431001

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 Aurangabad eligibility calculated?

The eligibility for a business loan is calculated considering various important parameters, such as your credit score, credit utilisation ratio, income level, bank balance, and overall financial standing. Hence, it’s important to maintain a credit score of 750 and above and continuously strive to maintain a strong track record of clearing your outstanding dues.

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

SMFG India Credit provides collateral-free business loans with flexible repayment terms and easy online applications. Borrowers can secure up to INR 75 lakh* swiftly, often within 72 hours*, thanks to transparent eligibility criteria. Pre-approved offers and online account management enhance the borrowing experience.

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

Securing a lower interest rate for your business loan depends on various factors. Your location, net income, business stability, the availability of collateral, and your current monthly financial obligations all have significant roles to play in obtaining a more favorable interest rate for your business loan.