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Business Loan in Navi Mumbai

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Navi Mumbai also referred to as New Mumbai is the planned satellite township of Mumbai located on the western coasts state of Maharashtra. Lying on the outskirts of the majestic city Mumbai, Navi Mumbai is one of the largest well-planned townships of the world. Over the last few years, the city has witnessed tremendous growth and stands as a prime example of extensive urbanization in India. The city is indicative of large scale developments and rapid business expansions.  The township encapsulates tones of opportunities and activities to explore. It is an attractive city having proficient connectivity with major landmarks and routes. The city has encountered quick progress and has evolved into a classic metro city.

Therefore, underpinning the hidden potentials of city lending and helping hand to budding entrepreneurs of the city, we at FlexiLoans provide the hassle-free business loans in Navi Mumbai. We make endeavors to fulfill the financial needs of entrepreneurs by providing them assistance with just a few minimal steps.

TOP 3 IDEAS TO KICK-START YOUR BUSINESS IN NAVI MUMBAI

Beauty & SPA

Navi Mumbai is an urban township densely populated with high profile people and immigrants. These areas with higher standards of living are likely to encounter more demand for spa and beauty treatment services. Therefore, the business ventures associated with a beauty treatment and spa services are proposed to yield profitable results in Navi Mumbai.

Grocery Delivery Service

Initiating a grocery delivery service in a posh area like Navi Mumbai is a great idea to start the business. This location offers ample of opportunities for the growth of grocery delivery services in the area. Moreover, being one of the most preferred locations of immigrants the grocery business in the area can fetch good results in the long term.

Jewelry and accessories making

Navi Mumbai is an active hub for fashion-related businesses. Thus, jewelry and accessory making could be a highly successful small business idea for the area. Furthermore, this business can be initiated with meager resources and capital.

ELIGIBILITY CRITERIA FOR AVAILING BUSINESS LOAN IN NAVI MUMBAI

Any person who owns a legitimate business and has good profitability can apply for a business loan. However, in order to ascertain the number of credits to be disbursed following constraints would be considered:

  • Type of business structure; i.e. Partnership, Proprietorship, Public Limited or Private limited.
  • The profitability of the business.
  • The past record of the business.
  • The total turnover and cash flow of business.

DOCUMENTS REQUIRED FOR THE BUSINESS LOAN

The list of necessary documents required for applying for a business loan in Navi Mumbai includes:

  • A valid proof of address issued by the government which may include any of the following:
    • Aadhar Card
    • Passport copy
    • Voter’s ID
    • Driving license
  • For identification purpose, the applicant must present any of the government-issued photo ID proofs.
  • Bank statement of last 6 months to validate the financial records.  
  • Proof of continuity of business which may comprise of any of the following:
    • ITR
    • Trade license
    • Establishment or Sales Tax Certificate
  • Statement of computation of income for the last 2 years.
  • Latest ITR record of co-applicant for the last 2 years.
  • Legitimate proof exhibiting proof of ownership of office or residence.
  • Board Resolution (if Pvt Ltd co. is co-borrower) / Partnership Authorization Letter (if partnership firm is co-borrower)
  • Profit and loss statements and balance sheet certified or audited by CA- for the last two years.
  • Recent GST returns if the business falls under the GST income scale.

INTEREST RATES AND COMMERCIAL LOAN FEES FOR A BUSINESS LOAN IN NAVI MUMBAI

For the purpose of calculating rates of interest on loans for MSMEs and SMEs, we undertake the following criteria into consideration. We have a hassle procedure as compared to other institutions across India. Our criteria for evaluating obligatory loan charges are:

  • The total duration of the loan
  • Operating Capital of the business
  • Profitability achieved by the business
  • Rates of Inventory
  • Worth of assets
  • The total cash flow of business
  • CIBIL score to the certain creditworthiness of the applicant.

HOW FLEXILOANS DIFFERS FROM OTHER FINANCIERS?

We at FlexiLoans make endeavors to support the entrepreneurs in fulfilling their ideas by cutting down all financial barriers. We aim to devise the lending strategies that are easy and fast and beat other competitors in the market. To explore more about how we really differ from other financial institutions read below about our benefits:

  • We are present across 100 prominent cities covering every state of India. Moreover, in coming years we seek to expand our services all across the regions of the country.  
  • Our application process is extremely simple. No paperwork is required. Fill details online and apply within 15 minutes.
  • We are exceptionally fast. Check the status of the loan and get it approved within 48 hours.
  • We offer 100 percent of the loan amount that too without any security.
  • We offer loan amount up to Rs. 1 crore.
  • No hidden charges. No false claims. We have fair discussions with the applicant for loan approval.
  • We are unbelievingly fast and flexible. With our customized product solutions, you can apply for the loan through a very simple online process.

Thus, our process for loan disbursement is extremely easy and efficient. Our customized business loans offer you reliable procedures for repayment options along with the competitive interest rates.

HOW TO APPLY FOR A BUSINESS LOAN IN NAVI MUMBAI

If you are one of the business owners or companies struggling to arrange finances for starting or expanding business in Navi Mumbai then look no further, log onto FlexiLoans, apply for the loan and get it approved.


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