Business Loan in Raigarh

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The industrial city in Chhattisgarh which is also called as the cultural capital is none other than Raigarh. It carries both traditional value and best suited to start any business venture. Also, Raigarh was not under the governance of the British rule and hence after independence, it was the first city to become an individual district in the state of MP by joining hands with the Indian union. They are best known for the coal reserves as well as the power generation. It is indeed a small city with less than 5 lac people with huge scope for development.

Chief business prospects in Raigarh

  • Jute Business

With one of the ancient jute mills in India, Raigarh has plenty of opportunity in making business with jute. Yes, with the ban of plastic in India, now we can think of making jute bags in different sizes. So you can start looking for starting a home-based or small business with housewives to make jute bags, purses, etc. The investment depends on your plan but makes sure you plan for annual returns of at least 2 lacs.

  • Steel and Iron ore

Being the major producer of steel and iron ore in India, you can capitalize on the opportunity to start a small or medium business with this abundant resource. You can use the iron ore availability to produce steel. The raw material is present in the city which will allow you to start an engineering business based on your skills.

  • Rice production and processing

The major crop is rice in Raigarh and they produce more than 4 lac tonnes of rice in a year. You can start an export business or even sell them within India. Get them to the south and sell as rice is the chief food for south Indians.

  • Malls

In recent years, there are many malls developing and you can set up shops in the mall with minimum investment. Think of food outlets, fashion accessory, toys shop, and others. You can certainly make a profit as malls are a relaxing place during weekends for the general public.

  • Silk Sarees

Tasar silk is available in plenty in Raigarh. With this, you can plan to start an online store to retain the traditional values of India. Silk sarees are the most needed cloth during marriages and all festivals in India. You can think innovatively to stitch them as chudidhar, Patiala, salwar kameez, etc. Sell them online or set up shops, either way, you will see a profit.

The basic qualification required to get a business loan in Raigarh

Education is the key to a successful business. You need some basic business knowledge like where to start, how to etc. With this basic anyone can apply for a loan. However, as per the Indian law, you need to qualify in the following criteria and then we will have no issues to fund you.

  • Adults from age 21 and above but not beyond 65 can apply for a business loan. This is to ensure that you can understand the business terms and physically fit to repay the loan.
  • You must know about Indian tax policy and should have filed taxes in the last year.
  • The proposed business should be ethical and it should return a profit of minimum 2,00,000 in a year.

With these qualifying criteria irrespective of religion, caste, creed, and gender anyone can approach FlexiLoans for a business loan.

Credentials to support your qualification

Yes, you understood the qualifying criteria, but how do we confirm the same? Hence we need some basic documents to be submitted. But, don’t worry as we require only e-copies and no need to run around to submit any papers.

  • ID proof – Needless to say as we need to verify your identification to confirm your authenticity. Submit either one of the following for Id proof. Bank pass book with photo, driving license, voter card, aadhar card, office ID with bonafide, etc.
  • Address proof  – Government issued address proof document including aadhar card, ration card, driving license, voter card, etc
  • Age proof – Tenth standard marksheet with dob, birth certificate, or any of the above-mentioned proof that has your date of birth.
  • Financial proof – PAN card is the first document to confirm your financial status. It can help track all your transactions that are above 50000. Then your bank statement for a minimum of 2 years and your tax filed papers with returns.
  • Photo – Recently taken photograph with passport size measurement.
  • Other loan proof – In the event of you having debt with any other organization both private and government must be informed to us in advance.

We can discuss any other documents required with you in person at the time of verification based on the details you provide.

How much we charge and what is our interest rate

So far we explained about what we expect from you and would like to tell our rates and charges. Based on the following details obtained from you we will be able to disclose our EMI, interest rates, and other charges. This will vary for each individual business and hence understand what decides these charges.

  • Business Productivity and commercial profit
  • The cost required to operate the business
  • Loan tenure
  • Equity quotas
  • Cash flow
  • Credit Information Bureau India Limited (CIBIL)
  • Company Assets

Note: Irrespective all these details we would want you to remember that the EMI amount will be hefty when you choose to do a risk business. It will be an easy amount to repay monthly if you borrow a small amount from us. Therefore discuss with us before taking any decision to help you understand better.

Nature of business loan and their charges

Even after knowing the above details we still can make calculation better by understanding your business nature and the following details together.

  • Commitment charges
  • Pre closure charges
  • First installment amount

Why business loan from FlexiLoans?

At this juncture, we would like to let you know our USP to decide about our service.

  • We don’t demand your time in collecting papers as our process is only online. You can access our portal to fill the form with basic details and upload a few mandatory proof documents.
  • Don’t fear any collateral as we don’t require any security to approval.
  • Our EMI calculation is transparent and there is no puzzle about the amount you need to repay on a monthly basis.
  • We reach you in any part of India and you can apply for a loan to start a business in more than 100 cities in India.
  • Apply for a loan today and we will respond to you within 2 days. Therefore keep all your documents handy in your PC to help us serve better and quicker.

With these 5 features, we are proud to call us the best business loan provider in India.

Apply now?

Don’t delay and you can click here to apply. We are glad to process your application and provide you with a business loan in Raigarh.