Buisiness Loan in Hyderabad: Hyderabad is known for its history and culture associated with it. Once the trade centre of pearls and diamonds; today, bears the relics of rich heritage of dynasties that ruled over it. The robust architecture of Golconda, Charminar, Chowmala Palace, and many other historical places bear witness to the rich heritage of Hyderabad. The capital of Telangana - attracts a lot of learned population owing to a well established corporate set up of several fortune 500 organizations in the city making it one of the culturally diverse and happening places to live in. Hyderabad is very well renowned for its cuisines specially Hyderabad Biryani, Kababs, Shawarma, that is something one can relish any time and never get over it.
Business loans in Hyderabad
If you are in Hyderabad and planning to start up your own business, looking for business expansion in Hyderabad you are certainly in the right place and at the right time. Business Loans in Hyderabad can help you achieve your goal by lending you the right amount of finance for starting up your business, planning an expansion of an existing business. You can avail business loans in Hyderabad either individually or jointly with your business partner.
Business loans in Hyderabad are available up to Rs. 75 Lacs with an average rate of interest of 18% to 22% for a loan tenure ranging between 3 years to 5 years. You can avail business loans with Nil Fore-closure charges from certain banks in Hyderabad and bear lesser interest in return by making the payment earlier than the scheduled time frame.
Business Loans in Hyderabad that are availed online bear the advantage of bringing forth a transparent and automated comparative list of banks offering business loans along with the product features.
You are considered to be eligible for a Business Loan in Hyderabad if you fall under the categories mentioned below:
• Limited or Private Limited Organization.
• Firm based on partnership or a proprietorship firm .
• Chartered Accountant, Company Secretary or a Self Employed Professional.
• Self Employed Professionals: Allopathic doctors, company secretaries, chartered accountants and architects who have been practising their professional for a substantial number of years. Proof of qualification needs to be documented along while filing the application.
• Self Employed Non Professionals: Manufacturers as well as traders fall under this category.
• Entities: Entities such as Partnerships, Private Limited, Limited Liability Partnership and closely held Limited organizations are considered eligible for business loans.
• For business loans for other categories business loan is provided depending on the profile of the organization on case to case basis.
• Duly filled Application form
• 1 Photograph of the applicant as well as the co-applicant as the case may be
• Income Details: IT returns certificate, P&L account statement for the last 2 years, duly audited Balance sheet and Form 16 A
• Bank account statements for the last 3 months
• Business vintage for 5 years
• Business Proof: Certificate of practice
• KYC documents of co-applicant