Business Loan in Ambala

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The population of Ambala city is 207,983 with 95,094 females and 112,840 males. The ratio is 1000:843(males: females) as per census was taken in 2011. The average literacy rate of Ambala is 89.31% with 91.76% of males and 86.41% of females literate.

The major industry being textiles the cloth market attracts shoppers from adjoining areas. There are 900 to 1000 wholesale shops. The wide-ranging shops are as follows:

  • Suitings and Shirtings
  • Silk and Sarees
  • Handloom
  • Variety of dress material

Sarees and Silks are few of the major cloths sold in large quantity at Ambala. The shoppers come mainly come from Himachal Pradesh and Punjab.

Economically Ambala is the major growing city in India. The financial sector is blooming in Ambala with growing and increasing population.

Business Ideas in Ambala

  1. Textile –  Textile is the major growing economy in the city of Ambala. There are a lot of shops and anyone knowing the art of weaving and making clothes can set up the shops here. Textiles can be the clothes we wear, for bed, sofa and other handlooms and textiles for homes and industry can be manufactured here.
  2. Food Processing – One of the other major industry in Ambala is food production and depends mainly on agriculture. The major produces of Ambala are Fruits and Vegetables, Fisheries, Meat and Poultry, Packaged/Convenience foods, Soft drinks, Alcoholic Beverages, and Grains
  3. Automobile industry –  Automobile and auto ancillary units are major industries that can be set up here and is profitable because of the major hub in Haryana, Punjab and Himachal Pradesh. This industry will provide excellent revenue
  4. Tourism – Tourism is a major industry in Ambala. With a contribution of 6.23% to the national GDP and 8.78% of the total employment in India, India is becoming a major global destination of the world. The tourist comes from all over the world and all the seasons to India.

The travel industry flourishes if you have good tourist spots and placed geographically in the center of many states and cities such as Punjab, Chandigarh, Himachal Pradesh, and Kashmir, the city of Ambala attracts many tourists to it. With the potpourri of various and variety of traditions, cultures, festivals, and places of visits, the Indian subcontinent attracts tourist the whole year around. Anyone doing business in Ambala can set up a private travel agency to support the tourism industry.

Who is eligible

Are you a graduate, a fresh mind brimming with business ideas, worried about the investment? Do you aspire to be a businessman, yet looking for funds from a trusted source to keep you all backed up? Do not worry. We are here for you.

We provide loans to young graduates and aspiring entrepreneurs to invest in their dream businesses, be it in wholesale, export, or retail. Our vision is to extensively benefit the community of students fresh out of college who want to contribute to the country’s economy.

If you are one of them, equipped with a degree and the right business idea, and very keen to start that dream project, go ahead, you avail for a business loan. Below are the requirements we look for in our applicants, apart from that great business idea.

  • Age limit: Above 21 years and not exceeding 65 years. This is a minimum requirement just to make sure that our applicants are old enough and capable to repay the loan.
  • Tax papers: It is easy to avail a loan with proper and transparent tax documents. The applicant needs to submit as a minimum the latest year of tax returns.
  • Gain from the business: The expected commercial profit from the business must be at least 0.2 million per annum.

Credentials required for a business loan in Ambala

Additionally, you will be required to provide the following documents in order to process your loan application and expedite the loan approval process.

  • Identity proof: The Identity proof of the requester should consist of one of the documents given by the Indian government like Aadhar card, voter’s ID, the driving license or the passport.
  • Address Verification: Not only the proof of identity but the applicant must provide a document containing their residential address. The requester can provide a passport, a voter’s ID, driving license, bank passbook, Aadhar card, house registered document, etc.
  • PAN Card – The requester’s PAN card or the company’s PAN card should be given.
  • Transaction statements: A copy of bank book or statement showing the last six months transactions must be submitted in order to show the transaction status of the requester.
  • Income tax statement: Profit statement and tax returns statement for the past two years must be submitted.
  • Photo: The latest color photo of the requester.
  • If some other loan is been taken, then it should be told before with its details
  • Cash flow statement and other details might be needed by the loan agency, such as association protocol, power of attorney, etc.

Fees and Rates for interest

As per government stipulations, the following factors must be taken into consideration while calculating the rates of interest for micro, small and medium-sized enterprises. You can speak to us to clearly understand the rates.

  • Operating cost
  • Loan Term
  • Credit Information Bureau India Limited (CIBIL)
  • Currency flow
  • Equity quotas
  • Productivity and commercial profit.
  • Company Assets

Equated monthly installment: The monthly amount to be refunded for a loan is based upon the money taken as loan and the time span of the contract. The time and amount are indirectly comparative while the EMI and loan amount is directly comparative.

Nature of the Business Loan and relative fees

We talk about other rates too with our customers while processing the loan, it comprises

  • Foreclosure rates
  • First payment
  • Commitment and commissions

All of these may vary from each and every case, so we would like to talk to the person after he \she applies in the website with the details of the person.

Only with FlexiLoans for a business loan in Ambala

Usually, the applicants who ask for a loan may have a lot of questions. Applicants often worry about who is the best lender, what would be their terms, what would be the duration to repay and many others. We will see to that that you get a loan to your satisfaction and do not get suffocated in this process. The following are some of our loan facilities which make us unique and best in this niche.

  • We offer 10 million INR as a loan.
  • We never ask for a guarantee of any kind.
  • No hidden clauses you need to worry about.
  • We make sure we make simpler and put in plain words about the interest rates and EMI calculations clearly to you, leaving no room for doubt.
  • You can apply for a loan online and get cleared within a short period.
  • Apply in online with a click. Absolutely no paperwork. Get online, connect, upload, and submit documents for approval within 2 business days.
  • We provide service to more than 100 cities in India.

For all the reasons listed above and much more, we are definitely a favorite among our competitors. We aim to do our best in making sure that the loan process is hassle-free for our customers. We have vowed to go green eliminating all paperwork, offering the best amounts to our applicants and demanding no collaterals. We have sworn ourselves to bear close allegiance with seamless customer service and satisfaction. It is our mission that we ensure minimal paperwork and documentation, negligible processing time and one-on-one assistance in the process of taking you closer to your dream.

What next

We warmly welcome all businessman and companies to click the link and apply for a loan and begin your business with a happy and satisfied mind.