Business Loan in Trichy

Name: SMFG India Credit - Business Loans In Trichy
Address: Third Floor, Selva Nirmala Complex, No:-C-87/3,1-24, 5th Cross, Fort Station Road, Thillai Nagar, Trichy - 620018, Trichy, Tamil Nadu, 620018, IN
Telephone: 1800 103 6001
Price range: Upto Rs. 75 Lakhs

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Trichy is an ancient city located in the cultural heart of Tamil Nadu. Trichy is a bustling city known for its historical significance and its growing manufacturing sector, which is primarily focused on automobile components, aerospace technology, and textile machinery production. In this evolving business landscape, the need for financial support holds paramount importance for local entrepreneurs and enterprises.

Let’s delve into the world of business loans in Trichy, aiming to equip you with the knowledge to make informed choices about your financial needs. Our goal is to provide you with a thorough understanding of the business loan landscape in Trichy, assisting you in determining whether a business loan aligns with your financial goals and aspirations.

Features And Benefits Of Business Loans In Trichy:

No Collateral Required:

SMFG India Credit's business loans are unsecured, eliminating the need for collateral.

Flexible Repayment Tenure:

SMFG India Credit's business loans in Trichy offer flexible repayment terms up to 48 months, allowing businesses to align their payment schedules with cash flow and ensuring financial convenience.

Tailored Solutions:

You can explore customized pre-approved offers to meet your capital needs and request a higher loan top-up with a flexible repayment tenure of up to 48 months* to match your preferences.

Online Application:

The application for a business loan in Trichy can be easily made online through the easy-to-navigate and robust dashboard.

Capital Support:

Applicants can secure swift and easily accessible financing of up to INR 75 lakh* for small businesses.

Rapid Approval:

Business loans by SMFG India Credit can be obtained within 72 hours* thanks to the transparent eligibility criteria and minimal documentation requirements.

Online Account Access:

You can conveniently manage your business loan account from any location and on any device.

Eligibility Criteria For Business Loans In Trichy:

Nationality: The applicant must be a resident of India.
Age: The applicant must be between 22 and 65 years of age.
Employment Status: The applicant must be a self-employed individual with their own business/ a proprietor, partner, or director of existing businesses.
Turnover and profit of business: The minimum annual turnover of the business must be INR 10 lakhs per annum and have a profit after taxes of INR 2 lakhs per annum.
Business Experience: The applicant must have a minimum of 3 years of operational history with stable income and profits for the past 2 years.
Credit Score: To be eligible for a business loan in Trichy, the applicant must have a credit score of 750 or above.

Documents Required to Apply For A Business Loan In Trichy:

To avail of a business loan in Trichy, the applicant must submit the following documents mandatorily. There may be differences with the actual list depending on your profile, requirements, and SMFG India Credit’s policy during the application.

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 the recent 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 A Business Loan In Trichy:

SMFG Credit customizes business loans in Trichy for interest rates to suit individual profiles and requirements.

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

Follow these simple steps to apply for a business loan in Trichy:

Step 1: Go to SMFG India Credit's Apply Now page. Fill in the required details and upload all the necessary documents.

Step 2: Provide the requested personal and financial information in the application form.

Step 3: Upon entering your information, you will be promptly informed if your application will proceed to the next stage.

Step 4: Your loan application will undergo several stages of verification, including document validation and physical address verification.

Step 5: An SMFG India Credit representative may contact you for additional details.

Step 6: If eligible, a tailored loan offer with the loan amount and applicable interest rate will be provided to the applicant.

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

Conclusion:

When encountering financial needs, SMFG India Credit is your go-to solution for business loans in Trichy. With flexible repayment terms, attractive interest rates, swift loan approvals, and a 100% online application process, we ensure that your journey is seamless with us. Check your eligibility using our online eligibility calculator, and submit your business loan application today!

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* 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

Address:

Third Floor, Selva Nirmala Complex, No:-C-87/3,1-24, 5th Cross, Fort Station Road, Thillai Nagar, Trichy - 620018

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 Trichy eligibility calculated?

To be eligible for a business loan in Trichy from SMFG India Credit, you need to ensure that you demonstrate a strong credit history with a credit score of 750 and above. A clear and punctual track record of clearing your outstanding dues is also important.

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

SMFG India Credit provides collateral-free business loans in Trichy 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 simplify the borrowing experience.

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

Obtaining a reduced interest rate for your business loan is contingent on several factors. Your geographical location, net income, the stability of your business, the presence of collateral, and your current monthly financial obligations all play crucial roles in securing a more favorable interest rate for your business loan.