The bustling state of Bihar located in the eastern part of India is the thirteenth largest state in terms of its geographical area. With about 58 percent of the population falling below the age of 25 years the state brings a lot of opportunities for the inculcation of innovative business ideas. The economy of Bihar is majorly dependent on the agriculture and the service sector. It is one of the strongest states in terms of agricultural production and livestock farming. The agronomist economy of the state is said to have a large impact on the overall growth of India’s economy as well. The state is highly acclaimed for the production of vegetables, food grains, cotton yarn, milk, and electrical goods. Moreover, the state is also regarded as one of the best fishing grounds. Adding more to its achievements, Bihar amounts to being one of the fastest emerging brewery hubs in India. Many of the renowned domestic as well as foreign firms are establishing their production units in the state. Therefore, there are lots of untapped opportunities in Bihar for setting up the business. Being the third largest populated state there is a lot to explore for the entrepreneurs in the state. Realizing the extraordinary business instinct of Bihari entrepreneurs FlexiLoans offers the business loans in Bihar without any hassle. By funding the ideas of budding entrepreneurs FlexiLoans aims to foster a culture of innovation. It provides financial assistance to SME and MSMEs for helping them help grow their business ideas into reality by cutting down all the barriers.
Over recent years, honey business in Bihar has emerged out to be one of the fascinating business ideas. There has been an astounding contribution of the state towards the country’s honey production. In the year 2012-13 Bihar’s total honey production amounted to 11000 metric tonnes. This significant production was said to yield 88 crores of revenue for the economy. Thereby, observing the facts one can easily predict that the beekeeping business in Bihar is going to be a fruitful one. Moreover, it will only lead to growth further in the coming years.
Bihar has a wide scale adoption of agricultural activities. It is the state of agriculture thus the business of fertilizer distribution has a lot of opportunities in the state. The proposed business already has its market established in the state due to wide-scale agriculture. Therefore, irrespective of the location of setup the fertilizer distribution is a profitable business to start the journey as an entrepreneur in Bihar.
Bihar has exemplary potential in the business of fish farming. With nine lakh acre wetland fish farming is the fastest growing sectors in Bihar. The state is encapsulated with a wide array of natural aquatic resources thus there is a huge demand for the quality fish seeds in the state. Moreover, the various government initiatives in the state are aiding in the growth of the said business. Thereby, fish farming is a great business idea for entrepreneurs in Bihar.
Any individual who aspires to set up or expand his/her business can avail the business loan in Bihar. The applicant who seeks to avail the funds should have a legitimate business with good profitability. Apart from this, the applicant needs to fulfill the following basic criteria:
The obligatory documents required for business loan disbursement include:
The below-mentioned criteria would be used to evaluate the rates of interest on loans for MSMEs and SMEs. Therefore, to avail the loan an entrepreneur needs to evaluate the business on the basis of the following key criteria:
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Then, why wait for more. FlexiLoans is there to fuel your dream business. We assure to provide you the easiest and simplest way to secure the loan without any hassle.
If you are one of the enthusiastic entrepreneur or company then log onto FlexiLoans, apply for the loan and get it approved.