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

Loan Against Property For Manufacturers

To compete with corporate businesses, manufacturing financing is necessary for small manufacturers. Working capital is essential to assist with payroll, equipment maintenance, machine upgrades, raw material invoices, etc.

Leverage your industrial or residential property to get this capital. SMFG India Credit  Loan Against Property can make you use the economic worth of your property to get immediate finance to meet a variety of your business needs.

Features And Benefits

Market Value Ratio

Residential property loan amount up to 70% of the market value of your property. Commercial property loan up to 60% of the market value of your property.

Flexible Tenure

Flexible repayment tenure up to 15 years* or until the attainment of 65 years*.

Working Professional

Loans against property for salaried and self-employed individuals

Easy Processing

Loan documentation is hassle free and quick loan disbursal

Online Processing

Check for eligibility for your business loans on your online application.

Loan against Property for Manufacturers

Submit your application in minutes!

Apply now

* 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.

FAQs

What is Loan Against Property for Manufacturers, and how does it work?

Loan Against Property for Manufacturers is a financial solution that allows small manufacturers to leverage their industrial or residential property to secure capital for various business needs, such as working capital, equipment upgrades, and raw materials. SMFG India Credit LAP utilizes the property's value to provide immediate financing to manufacturers, enabling them to compete with larger businesses.

What kind of properties are eligible for a Loan Against Property for Manufacturers?

Both industrial and residential properties can be leveraged for a Loan Against Property for Manufacturers, enabling manufacturers to access capital using the economic value of their property.

What are the maximum and minimum loan amounts that can be availed through a Loan Against Property for Manufacturers?

The maximum loan amount is ₹5,00,00,000*, while the minimum is ₹5,00,000.

How long does it take to get approval for a Loan Against Property for Manufacturers?

Approval for Loan Against Property is swift and comes with quick disbursal, ensuring manufacturers can access funds promptly.

Can the loan tenure be extended, and if so, what are the conditions?

The loan tenure is flexible and can be extended up to 15 years* or until the borrower reaches the age of 65.

What are the documents required to apply for a Loan Against Property for Manufacturers?

Required documents include an application form with a photo, proof of identity, address proof, age proof, bank statements for the last 6 months, salary slips, Form 16, income tax returns for the last 3 years, a processing fee cheque, and property collateral documentation.

What are the eligibility criteria for a Loan Against Property for Manufacturers?

Manufacturers must be between 25-65 years of age and residents of India with a CIBIL score of 700 or higher. They should be running an Indian SME with a minimum age of two years. Their financials should demonstrate consistent profits over the past two years, as audited by a CA.

Can a manufacturer with a low credit score still apply for a Loan Against Property?

A credit score of at least 700 is generally required to apply for a Loan Against Property.

Can a manufacturer apply for a Loan Against Property for expansion of the existing business?

Yes, manufacturers can apply for a Loan Against Property to fund the expansion of their existing business operations.

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