Business Loan in Bhubaneswar

Business Loan in Bhubaneswar

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Apply for Business Loan in Bhubaneswar

Bhubaneswar is one of the tier 2 cities and smart cities identified by the Government of India. This city one of the biggest city in Odisha and is the capital of Odisha. The cultural and economic importance of Bhubaneswar in eastern India dates back to the golden era. It has 1.7 million people per senses 2011 report. It is known for administrative, information technology, education, and tourism city. It is also one of the fastest-developing city in eastern India.

The government of Odisha and India has earmarked four industrial hubs in and around Bhubaneswar and they are Chandaka, Rasulgarh, Bhagabanpur, and Mancheswar, as Bhubaneswar is largely a residential city the industrial hub is built around the city. World Bank in 2014 identified Bhubaneswar as the best place to do business in India. 1.5 million tourists visits this across the year, thus tourism is the major industry in Odisha. Bhubaneswar is one of the fastest growing and important commercial and trading in India. Nearly 22K vendors work in nonregulated and regulated zones.

What Business Can Business Owners Choose in Bhubaneswar

  1. NASSCOM ranked Bhubaneswar as 9th among the Indian cities in terms of software exports in 2009 and with most IT/ITES companies. In tier -2 cities in India, this city was chosen as the best city for conducting IT/ITES business. Odisha had a high growth rate of 17% for software exports in the year 2011-2012.
  1. Real estate, retail and hospitality sectors, and infrastructure is providing great opportunity for business owners in this city.

  1. Earlier than 1990 there were few cities which were developed, after 1990 due to economic liberalization adopted by the Indian Government, the city of Bhubaneswar made great progress in Information Technology, telecommunications, and advanced education and promising future is looked at in the coming years.

  1. There is rapid industrial growth in Bhubaneswar,  it is also known for its appliqué work, handicrafts industry, stone, patta painting, wood carvings, and silver filigree work. According to world bank in 2012, Bhubaneswar was ranked 3rd among the India cities in operating and starting Business.

Who can benefit from a business loan in Bhubaneswar?

In Bhubaneswar, educated people who want to initiate a business and become entrepreneurs, but have no money source must feel glad now. You can contact us by applying for a loan. Loans are given to undergraduates/graduates who have a degree with vision and we give loans to encourage them. You can avail loans to start a business like exports, wholesale or retail. Anyone wishing to begin with business must apply for a loan. But, per law, the requirements for eligibility are as follows.

    • Age limit: Adults with decent credit limit falling between age 21 and 65 is eligible to apply for a loan.
    • Tax documents: People who tax can apply for a loan quickly and easily. Only the tax receipt for the previous 2 years is required.
  • Corporate income: The expected business income should not be less than two lakh rupees per year.

Credentials required for a business loan in Bhubaneswar

There are different criteria for getting a loan and if you meet the criteria below, you can get a loan very easily.

    • ID Proof: The ID proof should be a photo ID issued by the Indian Government. The proof of this identification can be a passport, driver’s license, voter card or Aadhar card.
    • Residence check: the proof of address must be anyone among the following. Aadhar card, passport, driver’s license, bank booklet or statement of account and residence permit, etc.
    • PAN card: This document is a must as it contains the financial track record of every individual. The PAN card can be in the name of the company or the person who applies for a loan.
    • Financial Statements: the bank book or bank statement with 6 months details is a must.
    • Income Tax Return: The return statement is an extra proof necessarily required and the resent 2 years is mandatory to be submitted.
    • Photo: A photo taken recently is required to be submitted by the applicant.
    • If you have another loan from a bank or place, you must declare it before you take out a new loan.
  • It is also necessary to generate documents mentioning the income you obtain from like land etc. A credit rating issued by a credit bureau and an association protocol also should be intimated.

Fees and interest rates on commercial loans in Bhubaneswar

According to the Bhubaneswar government, several criteria must be looked at to calculate interest rates for small, medium and large industries. Get in touch with us for interest rates and understand the criteria followed in the state. They are as follows,

    • Assets of the company
    • Operating costs
    • Participation fee
    • Loan conditions
    • Credit Information Bureau India Limited (CIBIL)
    • Productivity and business benefits.
  • Currency flow

EMI: The amount of EMI paid varies depending on the time duration as well as the number of loans obtained. The amount of the EMI and the loan amount are directly proportional but the duration and loan amount are inversely proportional.

Type of commercial loan and positions

Other factors to be considered while availing loan include many details and you can reach us to get an overview.

    • Initial payment
    • Prices before completion
  • Commissions and obligations.

Loans are provided on a case-by-case basis. Also, it depends on parameters including the ones described above. We help every individual soon after they apply to our portal.

What is special about FlexiLoans among hundreds of financiers?

People today have many options for applying for loans, and they are worried about from whom to borrow. We address all these issues in one go and include them at each step of the loan process. We offer loans easier and faster with the best interest rates.

Out unique loan approach include

    • We help you determine the loan amount you can make use of and offer loan up to one crore.
    • Secondly, we take no security and there are no veiled conditions.
    • Thirdly, we help you in the estimation of EMI, interest rates, etc., we have simplified the procedure and we will clarify it without a doubt.
    • If you apply for a commercial loan in Bhubaneswar, we will provide you with easy loans in no time. You can request simple documentation without any official procedure but quickly apply online. If everything is fine, it will be approved within 2 working days.
  • We provide service in many cities and states across India.

FlexiLoans has simple procedures, without guarantees and without paperwork. We offer the best quantity and excellent costs.

What is the next step? Apply for a commercial loan and kick start your business in Bhubaneswar

Please contact us for all types of loans. We recommend all organizations and contractors to apply with us for a business loan in Bhubaneswar.