Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Nanded, located in Maharashtra, boasts a diverse economic landscape comprising small and medium-sized enterprises (SMEs), agricultural enterprises, manufacturing units, and service industries. With a vibrant market, the city offers many opportunities for those looking to establish or grow their businesses.

Access to capital is a fundamental necessity for businesses to thrive and grow. In Nanded, as in other places, businesses often require financial assistance to cover initial setup costs, manage operational expenses, expand their reach, or invest in new technologies. Business loans serve as a catalyst, providing the capital infusion required for such endeavours. Business loans are a vital resource for the growth and sustainability of enterprises in Nanded. Let SMFG India Credit be your trusted partner in this journey.

Features And Benefits Of Business Loans In Nanded

Tailored Repayment:

Customize your repayment plan to match your cash flow, including the option for free foreclosure, giving you greater financial flexibility.

Swift Funding:

Access quick and hassle-free financing with loans available for small businesses, offering up to INR 75 lakhs* and competitive interest rates to reduce your capital expenses.

Speedy Approval:

Thanks to clear eligibility criteria and minimal paperwork, our small business loans can reach you in as little as 72 hours*.

Collateral-Free Support:

Benefit from business loans that don't require collateral, eliminating the necessity of using personal or business assets for financial assistance.

Diverse Loan Choices:

Explore various small business loan options, including pre-approved offers, generous top-up alternatives, and flexible repayment terms that can extend up to 48 months* for personalized financial solutions.

Eligibility Criteria For A Business Loan In Nanded

To become eligible for a business loan through SMFG India Credit, meeting the following prerequisites is essential:

  • Eligible Applicants: You qualify if you are a self-employed entrepreneur, proprietor, partner, or director of an established business.
  • Nationality: Applicants must be Indian citizens.
  • Age Range: Your age should fall within the bracket of 22 to 65 years.
  • Income Threshold: Your business should demonstrate a minimum annual revenue of INR 10 lakhs and post-tax profits of INR 2 lakhs annually.
  • Business Track Record: Your enterprise should possess a verifiable history spanning at least 3 years, marked by consistent earnings and profits over the last 2 years.
  • Creditworthiness: A commendable CIBIL score of 750 or higher is a requisite. Fulfilling these stipulations paves the way for SMFG India Credit's assistance, fostering the growth of your business.

Documents Required To Apply For A Business Loan In Nanded

When applying for a business loan, the submission of specific documents is crucial for loan approval. The necessary documents include:

Document Type

Description

Recent photograph

A current photograph of the applicant.

Valid Identity Proof

Acceptable documents for identity verification include your PAN card or Driver's License.

Valid Address Proof

You can furnish an electricity bill or passport as proof of your address.

Bank statements

A complete set of your bank statements is crucial for assessing your financial history.

GST or ITR

Providing proof of your Goods and Services Tax (GST) registration or Income Tax Returns (ITR) is vital for financial verification.

Income Verification

The submission of documents substantiating your income and financial stability.

Proof of Business Existence

This category might include your Certificate of Incorporation or any relevant business-related documents.

Interest Rates On Business Loans In Nanded

SMFG Credit customizes business loans in Nanded for interest rates to suit individual profiles. Here’s a detailed breakdown:

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

Proceeding Fees

Upto 6.5% of the Loan Amount

Customer Type

Proprietor / LLP/ Pvt Ltd / Partnership / Public Ltd

Delayed EMI Payment Interest

24% per annum on outstanding balances that are overdue, calculated on a day-to-day basis.

How To Apply For A Business Loan In Nanded:

To begin the application process, follow these simple steps:

Step 1: Navigate to the official website of SMFG India Credit and initiate your application by clicking on the "Apply Now" button.

Step 2: Select either the "Business Loan" or "SME Loan" option, depending on your specific requirements.

Step 3: Provide the requested information and upload the necessary documents as stipulated.

Step 4: Specify your desired loan amount and select a tenure that aligns with your needs.

Step 5: Upon submission, you'll promptly receive an immediate decision. If approved, you'll receive a reference number for future correspondence.

Step 6: SMFG India Credit may request additional information during application verification, including document and address validation.

Step 7: Upon the successful completion of verification, you will receive a personalized offer outlining the approved loan amount and the corresponding interest rate.

Following final approval, the sanctioned loan amount will be disbursed directly into your designated bank account.

Conclusion:

In the vibrant business landscape of Nanded, SMFG India Credit stands as a committed ally for businesses seeking financial support. Our user-friendly interface ensures a hassle-free loan application process. Secure loans of up to INR 75 lakh* with competitive interest rates. Propel your business forward in Nanded—begin your application and expedite your growth journey with confidence.

*T&C Apply

Apply for Business Loan

Contact Us

Address:

Business Square, B Wing, Second Floor, Vazirabad, Nanded-431601, Maharashtra

Note: Call on (Toll free number) 1800 103 6001 for more information.Timings: 9:00 AM to 7:00 PM (except Sundays and public holidays).

FAQs

How is my business loan in Nanded eligibility calculated?

The eligibility for a business loan is calculated based on various factors, including the credit history, income level, bank balance, and geographical location. Ensure that you have a credit score of 750 or above with all your outstanding dues cleared to get the best loan deals.

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

SMFG India Credit offers flexible repayment options, allowing you to match your loan term to your cash flow. Additionally, they provide capital servicing support for small businesses with competitive interest rates of up to INR 75 lakhs*, making it convenient and cost-effective.

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

To obtain a personal loan with reduced interest rates, it is essential to uphold a credit score exceeding 750, settle outstanding debts, establish a favourable debt-to-income ratio, and carefully choose both the loan amount and repayment duration to prevent financial strain.

* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.

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