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.
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 repayment tenure up to 15 years* or until the attainment of 65 years*.
Loans against property for salaried and self-employed individuals
Loan documentation is hassle free and quick loan disbursal
Check for eligibility for your business loans on your online application.
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.
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.
The maximum loan amount is ₹5,00,00,000*, while the minimum is ₹5,00,000.
Approval for Loan Against Property is swift and comes with quick disbursal, ensuring manufacturers can access funds promptly.
The loan tenure is flexible and can be extended up to 15 years* or until the borrower reaches the age of 65.
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.
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.
A credit score of at least 700 is generally required to apply for a Loan Against Property.
Yes, manufacturers can apply for a Loan Against Property to fund the expansion of their existing business operations.
* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.
Here are some articles which could help you understand us and our products better.