Business Loan in Deoghar

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Among the 24 districts in Jharkhand state, Deoghar has its own importance and is called the holy city. The presence of ancient Baba Baidyanath temple got it the name Baba or Baidyanath Dham. There are more than 1.5 million people in this small town and hence you have a bright chance to start any business and flourish. The visitor’s population is more to this city and hence you have additional chances to make money by venturing the tourist business. Hindi is the prominent language of this place and that adds strength to live and survive at the best.

Business Ideas to start in Deoghar

Having given a brief intro about the city we would like to let you know that at FlexiLoans we offer business loan in Deoghar for you to start a business. But before that, we would also want to inspire you will get some ideas about the right business in that city.

  • Travels

Don’t fear that you must start only a big travel agency with many cars etc simply starts with a couple of cars or even introduce a system like Ola. There are many people who visit the place and hence providing transport would be the best start-up business. Also, you can hire localities with not much education but who knows the city can help as a guide. This way you can give employment as well as helping tourists and finally earn a reputation.

  • Food outlets

We offer up to one crore as business loan and hence you can think of starting small tea shops, hotels, restaurants, etc. Ideal options in recent years would be starting a pizza and burger business. You can check for a franchise business with KFC, Mc. Donalds, Domino pizza’s, etc for giving luxury to the visitors who come from different parts of the country to visit temples.

  • Education Consultancy

With 15 million people there is no need to say about education facility requirement. You can start schools, training institutes, etc. Introduce even online tools with which children can enhance their skills and stay at par with others in the state.

  • Basic Amenities

This part of the business is mandatory which you can think of as there are people who migrate from the city for their higher studies, job prospects, etc. All the elderly parents who are left in their hometown need basic things like groceries, medicines, paying bills, and others. You can start a shop to provide groceries all inclusive or start any agency to assist these elders for their daily living etc.

Are you eligible to apply for a business loan in Deoghar?

Find below checklist to make sure that you are eligible for applying for a loan.

  • Completed 21 years at the time of applying for the loan
  • Must not be more than 65 years to request for a loan
  • Think of a profit generating business and you must be able to show past records of your business caliber in the last one year
  • The annual turnover of your proposed business must be a minimum of 2 lakhs

Loan processing document requirement

Our best feature being paperless loan application process gives you peace but remember the basic documents that you need to upload on our website while filling the online form includes the following.

  1. Permanent Account Number (PAN) issued by the Indian government is the first and the foremost document required to scan and submitted. It is important as per Indian constitution to track all your financial transaction using this number.
  2. Your identity must be verified and for the same, you need to submit one of the documents issued by the Indian government. This can include voter id, ration card, aadhar card, passport, driving license.
  3. Next, your place of living should have proof and for that, you can again use the same documents listed in the previous section for identity. Remember to use one proof for each section.
  4. Then comes your age proof and for this, you can additionally use your SSLC mark sheets, date of birth certificate apart from the ones mentioned in section 2.
  5. Coming to talk about your financial status you must submit your ITR statement. Also, your bank statement. Balance sheets, and P & L statements, These documents must be collected for a minimum of 2 years to let know the lending agency about your financial stability.
  6. In case you have any other debts, then you need to indicate the same with the documents. Cash flow documents must be submitted.
  7. Finally, photograph in passport size must be submitted which was recently taken.
  8. Few cases may also require your business ownership letter, labor certificate, etc. You can contact us for checking these requirements in the event of doubt.

Interest rates and charges

Whether you start an MSME or SME business the interest rates and charges depend on the following criteria.

  • CIBIL Score
  • Net worth
  • Business Profit
  • Cash flow
  • Operating cost
  • Inventory ratio
  • Period for which loan is taken etc.

In fact, we offer the best rates and our EMI calculation are very transparent allowing you to understand clearly. In general, remember that longer period loans will have lesser EMI and high-risk business will demand more EMI amount.

Nature and charges for the business loan

Apart from the above-mentioned details we also charge based on the foreclosure, loan prepayment, and commitment charges. However, do not panic as we do not generalize the rates and it will be decided based on your individual application.

Why must you choose FlexiLoans for getting a business loan in Deoghar?

There are lots of processes involved in the loan application, but stay assured that we make it easy. Also, we are proud to say that we stand beyond our competitors in serving you with our best qualities highlighted.

  • Don’t worry about the loan amount and we offer up to 1 crore. You can start any business to make a profit. We will also give you a suggestion to choose the right amount for the right business.
  • Next is the paperwork involved in the process. Usually, it is thought to be a cumbersome process. But feel glad that we don’t trouble you and you need not make any copy. Simply transfer files from your PC to our site while filling the application form.
  • Another important concern is the guarantee demanded by the financing agency. We understand your position and hence we don’t ask for any security.
  • You can get a loan in 48 hours and there is no need to wait for months to start a business.
  • There are no hidden charges or cost involved and we follow a straightforward process.

To summarize, we give you the best rate, right amount, and hassle-free loan process.

How to apply

Click Here and apply for a business loan in Deoghar. You can follow the instructions to fill the online form. It will not take much time. Just make sure you collect the documents mentioned above in one folder in your PC. This will let you upload all documents in one go.

Looking forward to serving you.