Business Loan in Ghaziabad

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One of the well-developed cities in the state of Uttar Pradesh (UP) is Ghaziabad. It is often called the gateway to Uttar Pradesh. It is a planned industrial city in India. In Ghaziabad, the industries are in many numbers. The economic activities of Ghaziabad depend on tobacco productions, electronics and electrical goods, pottery, ceramics, dairy products, industrial machinery, and transportation equipment.

Many Banks are located in Ghaziabad and it has also grown into Financial Hub in India. There are many small and medium scale units in Ghaziabad and hence it is the fastest-growing cities in India and one of the industrially developed cities in the country. Anyone who wants to start the business in Ghaziabad to start a small or medium scale unit can approach us for business loans. The business you can start here is given below.

Business Opportunity in Ghaziabad

Manufacturing As Ghaziabad is located in a prime location in northern India near major north Indian states, one can think of starting Diesel Engine and Sheet Metal Components Manufacturing. You can either start an ancillary industry to car manufacturing or even export to other countries.

Creche/Playschool Due to the growth of Information Technology and Computer industry many married couples find it difficult to manage family, home and work together. In today’s world both man and women go to work, thus if they have kids then they have to put the kids in the playschool or crèche this business can be started in Ghaziabad.

Training There is a shortage of skilled workers here in Ghaziabad. IT and Engineering industry demand highly skilled workers. This gap can be bridged by providing the requisite training from the training institutes.

Restaurant Food industry is growing like anything and one can start hotels, catering business, restaurants, and other food delivery business. There are very few people nowadays who prefer to eat their own prepared food, so due to lack of time, effort and small family, people go to restaurants for food.

Education Setting up a highly demanding, good and proper school in every area where there are growing kids is a lucrative business. It is important to do some research to find out which location for setting up schools close to the vicinity where more kids are available.

Auto parts Catering to auto parts manufacturing by staying close to large car plants is a very good idea to set up the auto and automobile parts companies. These auto parts, if manufactured to the standards, can be supplied all over the country and even exported to other countries.

Who is eligible to apply for a business loan in Ghaziabad

There are many people who are well qualified and have the passion to start their own business venture. But the lack of capital or investment becomes an obstacle for such people. If you’re facing a similar situation, then set aside your worries and approach our services. Many graduates choose entrepreneurship over employment, which is beneficial for both the individual and the nation’s economy. We wish to assist such people in managing the required funds. Whether you want to establish a business in trade, wholesale/retail or any other sector, you can apply for a loan for your start-up plans. But there are certain criteria set by the Indian government to be eligible for a loan, which is mentioned below.

  • Age limit: An important criterion to apply for the loan is that the candidate must be within the age of 21 to 65 years. Those who are below or above this range are not considered eligible for loan application.
  • Tax documents: Having properly maintained tax documents makes the loan approval fast and hassle-free. The minimum requirement is that candidates must at least submit tax return records of last one year.
  • Business Profits: Candidates need to showcase a business plan that proposes a minimum profit of two lakhs per annum.

Required Credentials

Once an applicant has met the above-mentioned qualifications, they will also need to produce the following documents to ensure a smooth and quick loan approval.

    • Proof of Identity: Applicants must provide ID proof that is recognized by the Indian Government. This can be anyone among the following:
  • Voter ID card
  • Passport
  • Driver’s license
  • Aadhar Card
    • Proof of Address/Residence: Along with ID proof, applicants also need to submit an address proof to verify their residence address. Documents that are recognized by the government as a proof of address include
  • Voter ID card
  • Passport
  • Home Registration Documents
  • Driver’s license
  • Bank Passbook
  • Aadhar Card
  • PAN Card: Applicants must submit a copy of their PAN card, or the PAN card of their organization.
  • Financial Records: Applicants must showcase their financial status by producing their updated Bank passbook/statements that include transaction details of the past 6 months.
  • Income Tax Declaration: Proof of income and tax return statements for the last 2 years must be provided.
  • Photograph:  Applicants must provide their recent photograph
  • Documents pertaining to any other existing loans should be provided in detail.
  • Some additional financial papers or other documents such as power of attorney, association protocol, etc. may also be required.

Charges and Interest Rates

As per the government policy, certain criteria are considered in order to calculate the interest rates for the loan, applying to both micro businesses and small and medium-sized enterprises (SMEs), such as,

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

EMI information: The monthly installment to repay the loan is determined by the total loan amount and loan duration. EMI amount is directly proportional to the loan amount and inversely proportional to the duration of the loan.

Loan Processing and Additional Charges

While processing the loan, some additional charges may also be included, such as,

  • Commitment and commissions
  • Foreclosure rates
  • Initial Down payment

Since these are variable factors, so they will be discussed personally with the applicants once they have submitted their application with the necessary documents.

Why FlexiLoans is your preferred partner for a business loan in Ghaziabad

We understand that the process of applying for a loan can often be difficult, putting many people in a dilemma. There are many factors to be considered beforehand, such as choosing a suitable provider, understanding the terms and conditions, calculating the duration and repayment amount, etc. Rest assured, as our primary objective is to address all your concerns and make the process as hassle-free as possible. Below are some features that highlight our efficiency.

  • We offer a maximum loan amount of up to 1 crore.
  • We never demand any form of additional security. There are no hidden charges either, as we believe in complete transparency.
  • Calculating rates, interest and EMI amount can be quite confusing. But we put in maximum effort to explain it to the applicants clearly and in a simple manner.
  • The documentation process for a loan can also be troublesome and tiring. However, we have made this process extremely convenient. There is absolutely no need for paperwork, and all it takes is just one click. Our entire application process is online. Once you connect to us, upload and submit your documents and your loan will be ready for approval within 48 hours!
  • Our services extend to over 100 cities across India.

Our services are designed to provide you with maximum convenience. We are eco-friendly as there is no paperwork involved, and we provide the best rates and amounts without asking for any sort of collaterals.

What next?

We warmly welcome individuals, entrepreneurs as well as organizations to reach out to us. Get your business up and running; all you need to do is click here and get started with the loan application process!