We at FlexiLoans offer a loan for shopkeepers to set up and expand their business. In this post let us explain in detail about the loan process. Before that, you must understand about a shopkeeper and their role. An individual or a set of people who start a shop to sell products are called as a shopkeeper. They can be selling any product from grocery to clothes, to auto parts, and much more. These people may prefer to set up small shops with low investment or rent out malls with huge investments. Irrespective of the size of the shop we would offer them a business loan.
The obvious answer to this question is, shopkeeper needs a loan to start his shop. But there are more to it and we have listed the following reasons for a shopkeeper applying for a business loan.
All the banks offer a business loan for shopkeepers, also the NBFCs offer a loan. These Non-Banking Financial Corporations is the choice for small business owners to apply for a loan. Bank loans are regulated by the Reserve Bank and Banking Company Act. They will be very strict and several rules are imposed preventing shopkeepers to get the loan approved. Therefore NBFCs are the best choice for loan seekers.
Now, you have identified that SME lending companies will offer a loan for you to set a shop. But still, you need to be eligible for getting a loan. Find below the minimum conditions to be observed for getting a loan
One of the documents can be submitted for identity, address, and date of birth proof. One document each should be submitted.
Aadhar card, voter id card, driving license, passport, bank book with photo, SSLC certificate (DOB), etc
As mentioned above there are several players in the market named as NBFC who offer loan to small and medium businesses. How FlexiLoans stand top among them? Find below our best features in offering a business loan for shopkeepers
Loan Process – Our process is completely online and you can get a loan in just one click. You need to fill the form with your personal and financial details. Upload supporting documents and click submit. Yes, this is the process which you need to follow to check with us for a business loan.
Loan Amount – We offer up to one crore and you can talk to us about your plan to let us know how much amount you need.
Loan Duration – The loan processing time is 48 hours and amount disbursal within 2 business days after approval. You can choose to decide the loan tenure and longer the tenure lesser is the EMI amount
Loan Charges and Interest Amount – The fees and other charges required for applying for a loan is very nominal and is not more than 2% of the loan amount. We pay loan deducting this amount and the first-month repayment. Later on, you can pay on a monthly basis and we will provide you with a clear calculation to understand how much you need to repay.
Security – There is no collateral demanded by us when you apply for a loan. Absolutely no guarantee asked and you can feel free to approach us for a business loan.
Loan Locations – In more than 100 cities in India we offer a loan for you to start a shop.
Kind of shopkeepers who can approach us for loan – We are ready to offer you a loan for setting up the following shop s in India.
The list goes on and you can approach us in person to confirm your nature of shop and the business model.
We will get in touch you to approve your loan