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Business Loan in Nagpur

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One of the busiest Indian states is Maharashtra with many cities and each one they have their own growth prospects. Nagpur which was known as Nagpore is the 3rd largest city in Maharashtra and the 13th city in India by population. Nagpur is one of the rapidly growing city with a growth rate of 8.41%. Also, it is one among the smartest cities in India with rank 1 among the other 100 cities. The presence of the largest hollow Buddhist stupa in Nagpur fetched it the name Deekshabhoomi. Based on the ABP News-Ipsos survey this city is the cleanest city with top ranking in livability, health care, greenery, and public transport.

No surprise to call this city as “orange city” as it is the chief trade center for oranges. Nagpur is the birthplace for the popular ice cream makers Dinshaws. Haldiram’s originated from this city only. Vicco products are gifted to India by Nagpur. Handloom weavers Koshti population makes cotton and silk sarees, dress materials making Nagpur famous for silks.

Small Business Ideas in Nagpur

With more than 25 lac people, Nagpur city has a literacy rate of 92%. You can think of investing in Nagpur as you have ample opportunities and people resources. Find some quick ideas to begin your business voyage in Nagpur.

  • Export business

You can start an export business and there is a wide chance for you to send oranges, clothes, sweets, and snacks to other countries. All you need is to get the license for the business and identify places to start your export. The resources are available in plenty in Nagpur and so you can tap the opportunity to start an export business

  • Food Distributor

Poha is the most loved food by people in Nagpur you can start doing a food business with a variety of recipes with Poha. Start an online business, get orders and do door delivery of food. There is will be demand for such a business round the clock and all through the year. Try ice-cream parlors and sweet shops etc. Haldiram food distribution is the ideal choice as the original product manufacturer is from Nagpur.

  • Grocery Delivery

Either has a store and help people get grocery delivered at home. Alternatively, have an online store and then you don’t need a shop but a place to store goods. Take delivery online and send them to the customer doorstep. You can choose a wide variety of grocery items in this business with low investment as there is no physical need for a posh shop set up.

Business Loan in Nagpur – Eligibility Criteria

Per the Indian constitution, there are certain conditions to start a business. It is not possible to start a business if you have money. But you need to qualify to get going. For that matter, if you qualify in the below-mentioned category, then you don’t need to worry about money. Yes, we at FlexiLoans will offer you a business loan up to 1 crore. So understand the qualification required to begin with a business in India.

  • You must be 21 years old and must not be older than 65 when your loan tenure gets over.
  • You must be aware of India tax law and must have filed tax for at least one year as well hold a valid PAN number
  • The business you propose should generate a minimum 2 lac return in one year.

Supporting Documents For Getting a Business loan in Nagpur

Now, you might have understood the eligibility criteria to avail a loan. But, that won’t suffice, as the loan provider requires proof to confirm your age, PAN number, address proof, etc. Only these documents will authenticate your eligibility. Find the detailed list and you need these 6 documents to get a loan from us.

  • Identity proof – As proof of your identity following photo Id proof is required. It can be any one of the listed documents namely the voter id, aadhar card, driving license, passport, etc.
  • Residence proof – For address verification, you can choose one of the following documents. Aadhar card, passport, driving license, house registration document, bank book, gas cylinder book, or voter id.
  • PAN – PAN card is a mandatory document
  • Finance statement – Bank statement with last 6 months transaction to let know your financial eligibility.
  • Income declaration – Income tax return paper will brief your income declaration
  • Photo – Passport size photo was taken recently.
  • Miscellaneous Proofs – Other loans or the debts you have to be notified in advance. Other documents including PoA, MoA based your current situation.

Interest rates and Charges

Irrespective of SME or MSME business you plan to start the rates and charges by FlexiLoans depend on the following information you provide us with. You need to have a proper business plan to ascertain these rates.

Your business planning requires to be done with these inputs. Let us know these details and with that, we would be able to decide the charges.

  • Working principle
  • Loan duration
  • Equity standards
  • Cash flow
  • CIBIL score
  • Assets of the company
  • Business productivity
  • Profit from the business

EMI calculation – Based on these inputs we will calculate your monthly interest amount. As a rule of thumb greater, the loan duration lesser will be the EMI. Riskier your business is more is the EMI.

Nature of Business loan and Charges

Apart from the above rates, there are additional charges we ask for but that depends on each loan transaction. However, it is not going to burden you and just talk to us to understand these rates. It depends on the prepayment rates, first installment amount, foreclosure rates, commitments, etc.

Best Features of FlexiLoans in offering Business Loan in Nagpur

There are several loan providers in the market but why should you choose us? Here you with the explanation for the same. Once you feel convincing you can approach us to apply for a loan in just one click.

  1. We offer a maximum of one crore as the loan amount. You can start any business from a wide range such as retail, service, trade, garments, distributor, electronics, import, appliances, grocery, computers, manufacturing, hardware and sanitary, etc.
  2. You can apply for a loan to start a business in Nagpur, Thane, or any part in Maharashtra. For that matter in any part of India, you start a business and we provide the loan in more than 100 cities.
  3. Our EMI calculation process is simple. We have a ready EMI calculator letting you know your monthly installment payment based on your principal amount.
  4. The loan process is simple and you don’t need to collect loads of documents. Only submit the essential 6 documents. Even that you can quickly upload online and no need to make paper copies. We go purely paperless in our process.
  5. There is no collateral fear when you avail a loan from us. We don’t ask for any security or guarantee in any form. Also, all our process is transparent and there is no hidden condition.

In short, let us summarize our features. Paperless, hassle-free, quick, transparent loan process. No security required, we serve in 100 cities and a maximum loan amount of one crore.

Your Action

Just click the link and fill the form to get your loan and start your business.


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