Business Loan in Raichur

Business Loan in Raichur

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Raichur is famous for Rice and Paddy and is also called Rice Bowl of India. However, Raichur District in Karnataka is growing and known for its small Business as well. Earlier than 1990 Raichur was known for its cotton and Oil seeds industry. As it is situated between 2 major rivers Tungabhadra and Krishna it is abundant in natural resources and is becoming an emerging business player in Karnataka. In Raichur 2 taluks Manvi and Sindanur are known for rice cultivation.

More than 11,000 workers in 273 factories work in Raichur. More than 39,000 workers work in 9276 SSI (small scale industries). There are more than 900 acres earmarked for industries in Raichur and the five major industrial belts are Devadurga, Manvi, Devasugur, shaktinagar and Raichur. Therefore Raichur has many numbers of SSI and factories in Karnataka.

There are 65 acres of land earmarked for sixty industrial estates in Yarmars, Sindhnur, Lindsugur, and Raichur. 144 plots for the industry has been allotted from 230 plots developed so far. Therefore anyone would like to capitalize on these Business Opportunities in Raichur.

Benefits of Availing Business Loan in Raichur

Easy to avail Business Loan in Raichur

Availing loans has been made easy and can be applied online through the websites without any delay. There are no collateral or guarantee needed for loans nowadays. Loans are available for small scale and medium scale units.

Personalized SME needs for Business Loan in Raichur

Our loans are customized for each and every case of loans lending and it is not the same for all the business. However, we have loans available for all the Small and Medium scale units. You need not to worry for money to set up a business in Raichur, you can avail loans from us at competitive rates.

Staying in advance of the competition

Our loan processing is simple and faster and you can stay ahead of the competition by availing loan from us at competitive rates. There are a lot of business opportunities in Raichur and you need not worry for operational cash, which will benefit your business in generating revenue.

E-Business Expansion

E-Business is expanding and you need not invest in retail stores nowadays. Through the website, you can create online Business which will benefit you in the long run.

Who can apply for a business loan in Raichur?

Anyone with talent and skills, and with solid business knowledge, well-trained, but lacking the resources to begin a business in Raichur can start an SME or microenterprise by knocking our joining us to apply for a loan. You can apply for a loan as an individual or form a group with partners to request a loan and start a venture. You must meet the basic criteria to apply for a loan. They are the following mentioned below.

  • Adults: adults over 21 and under 65 can apply for a loan. You must comply with this condition in accordance with the rules of the Indian state government.
  • Clean tax account: People holding a good credit can apply for a loan. You must file the tax returns for at least in the previous financial year before applying for a loan.
  • Commercial benefits: You must have a good income and high commercial potential from your business when applying for a loan from our company, which must be at least 2 to 3 lakhs per year.

Documents required to apply for a business loan in Raichur

The documents required depends on the financial institution, but basic documents like ID proof, etc are important and obligatory. The details of the mandatory documents required for the loan application are as follows.

  • Proof of age: The major required documents is proof of age. This could be your birth certificate, a PAN card, an Aadhar card, a driver’s license, and voter identification.
  • Proof of identity: PAN card, smart card (if the head of household), driver’s license, voter identification, Aadhar card, passport, any of which can be presented as photo identification.
  • Proof of residence: with the exception of the PAN card, each document mentioned above will contain the address and may be presented as proof of address. The other documents are extracts from statements of accounts, bank books, and gas connections.
  • Latest photo: We also need the latest photo in passport size
  • Tax return: Tax returns filed in the last 2 years are mandatory.
  • Bank account: as proof, a bank statement of 6 months is required.
  • If you have already taken out loans from lenders, you must inform us about them.
  • The other documents required are in accordance with the policy of the credit institution, the right of association, the cash flow document, the PoA – power of attorney, etc.

Rates and interest rates

According to the guidelines of the state government, you must have the following elements to work out the interest rates for small, medium and large units that are created when applying for a loan. Please connect with us directly to understand the guidelines.

  • Operating costs
  • Parity details
  • The period of the loans
  • Company assets
  • Credit score of the CIBIL.
  • Equity fees
  • Total cost required
  • Generated profits and business income.

The corresponding monthly fees (EMI) depend on the loan duration until the total repayment of the loan and the total sum of the loan. If the period is longer, the EMI will be lower and if the loan amount is higher, the EMI will be higher.

Natural loans and interest rates.

Other factors that decide the loan and the interest rates are enumerated below. We will brief you individually at the time of processing the loan application.

  • First payment
  • Charges and misc expenses
  • Promise of fees

Is FlexiLoans the right place to get a loan? Yes but why

When we look at applying for a loan, then every one of us gets baffled with thoughts and do not know how to borrow. We think a lot about the genuine lender and how easy it is to get loans. Also, we wonder to know about the various ways to apply for a loan. We will address all your concerns and worries. We promise easy and simple loan procedures. Here are our unique properties.

  • In terms of documentation, we simplify the online document submission procedure using our website. The loans are approved within 48 hours.
  • We provide a loan in more than 100 cities in India.
  • We don’t demand security and we promise to approve loans quickly.
  • There are no hidden fees and although the calculation of EMI is complex, we make it easy.
  • We provide loans for up to one crore and make the entire loan amount available at once after all, steps have been completed online.

In a nutshell, at FlexiLoans, we offer the best rates, and follow a simple online process without complications and demand no guarantee.

What is the next step to apply for a business loan in Raichur

Why wait? Quickly click our site to apply for a loan that meets your needs in micro, small and medium business vision. Visit us now online for more information and make a wise business venture decision.