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Business Loan in Odisha

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Apply for Business Loan in Odisha

Odisha is the middle eastern state in the Indian subcontinent and is one of the 29 states in India formerly called Orissa. It is the 11th largest state in India in terms of population and 9th largest in terms of area. Economic growth in Odisha is steady and above the national average. In Odisha, there are 20 cities selected for the smart cities projects by the Government of India.

Odisha’s capital is Bhubaneswar and Government of India has sanctioned Rupees 50,802 crore for the development over the five years for this city. Odisha has one of the largest coastlines in India and has got huge natural resources. Some of the naturally found substances in Odisha are Chromites, Bauxite and produces one forth of iron ore in India and one-fifth of coal in India.

Why Choose Odisha as Your Destination for Business

Primary industries in Odisha are mining, quarrying, gas, water supply, electricity, hotels and restaurants, trade, tourism manufacturing, financial and insurance services, storage, transport, and communication. Gross state domestic product (GSDP) of Odisha is expected to grow at a rate of 8.1% from 2015-2020. The banking network is well-developed in Odisha when compared to other states in India.

There are many ideas to start Business in Odisha. We provide with guidance for the startups and Business loans to fund your projects. Few of the ideas are listed below.

  • Car Rental – As Odisha is known for the Tourism industry the car rental is flourishing and is one of the most in-demand business in Odisha and also because of Industrialization.
  • Processing Cashews – One of the profitable businesses is cashew production as Odisha is known for it. It is one of the cash crops and cashew producing unit can be established easily in Odisha as the raw materials are available in plenty, in the vicinity anywhere within the Odisha.
  • Making Jute Bags – Jute is prepared from one of the crops and available in plenty in Odisha. It is the fourth largest producer of jute after West Bengal, Bihar, and Assam in India. Rice and jute, require similar climatic and soil conditions and is produced in Odisha which competes with each other. Therefore, Odisha is one of the largest producers of Jute bag. This type of business is conducive as a startup in Odisha.

We can discuss business loan in Odisha and also suggest some ideas to begin your entrepreneur journey.

Who can apply for a business loan in Odisha?

Anyone who is interested to start Business in Odisha, but do not have money to invest for the startups of Micro, Small and Medium scale units can contact us for the money by taking loans. Even students after completing their studies and want to help society or start a business can avail loans at a very attractive rate of interest. The business can be wholesale or retail or export business. Anyone with legal ideas but wants to start Business in Odisha can approach us for taking loans. There are few legitimate requirements for taking loans as per the Government of India, they are as follows.

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  • Age limit:  The age limit must be between 21 years and 65 years only.
  • Tax documents: You must be a taxpayer and need to maintain the tax return documents along with the PAN Number.
  • At least 2 Lac of return is must as per the Business plan. Please make Business plan with necessary details containing your vision.

Documents required for a business loan in Odisha

You can apply for the loan with us, however, the government needs the following documents. These documents help the financial institution verify its authenticity and process the loan in a timely manner.

  • The candidate’s ID must be one of the documents received by the Government of India, such as proof of identity, Aadhar Card, Driving License and Passport
  • In addition to the documents chosen for identity verification, the applicants must verify their correct address. You may present an Aadhar card, a passport, Voter ID, a driver’s license, a bank book, property registration documents, etc.
  • The applicant’s PAN Number or Company PAN Number must be submitted.
  • In order to prove the financial situation of the applicant, a passbook or bank statement must be submitted for at least 6 months with the details of the transaction.
  • Details of income: Income statement of the last 2 years.
  • The current passport size photo of the Candidate.
  • The credit bureaus can request information about cash flows and other documents such as power of attorney, etc.

Rates and interest rates for a business loan in Odisha

Interest rates for the loans for the Micro, Small and Medium scale units are calculated as per the policy of Government of India. Please call us to discuss the criteria for the rates and its calculations.

  • Productivity and profitable benefits.
  • Running costs
  • Loan Period
  • Revenue flow
  • CIBIL – Credit Information Bureau India Limited credit score
  • Overheads and Company assets
  • Equity quotas
  • Productivity and Return of Investment benefits

EMI: Equated Monthly Installments depends on the duration of the loan repayment and the amount of loan required.

Commercial loans and related expenses

The other factors that influence the rate of the loans and based on case to case basis are as follows.

  • First time installment payment
  • Preclosure charges
  • Commitments and Commissions

These above rates are discussed individually based on various factors.

Why FlexiLoans for a business loan in Odisha

One may have many thoughts while taking loans, these may be confusing such as who should you take loans from? Who is the best lender? What are the features etc? We discuss all these and more things openly with you. Below mentioned are the best features of our company for loans.

  • We offer loan till 1 crore after satisfying the loan approval process.
  • We do not demand any security and there are no hidden charges, this is our warranty information.
  • EMI calculations are transparent and clear and we provide you the calculations. We provide you the best interest rates in the market.
  • Loan procedures are all paperless, this means you can upload all the scanned required documents online and fill the form online. After satisfying all the criteria’s the loan is made available to you in one go within 48 hours.
  • Our loan procedure is simple and easy.
  • We operate in more than 100 cities in India.

Maintain a soft copy or e-copy of all the documents for taking loans, we also provide suggestions and discuss with you on the business ideas.

Come and Apply

Please apply for a business loan online by a click of a button. Please visit our website and make your plan and put the plans into action.


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