Business Loan in Rohtak

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Rohtak is in Haryana. It is 70 km North West of Delhi and 250 km south of Chandigarh. It is part of the NCR and hence obtains a loan at cheap rate for developing infrastructure project. It is the 6th populous city in the state and the literacy rate is 84.08. The HSIIDC has developed an IMT in Rohtak in 2018. This leads to a great industrial development in this city. Many famous industries namely Maruti Suzuki, Lotte, Asian Paints, etc have started their projects. Therefore it is expected to make a great industrial revolution in Rohtak in the coming years.

What Business can you start in Rohtak

  1. Automobiles – Being a growing industrial city with projects from Maruti Suzuki and Suzuki motorcycle there is a bright future for automobile business in Rohtak. You can start the spare part sales company. Purchase an original product from the manufacturer to sell them in all cities in Haryana. Start a service center to fix the issues of the vehicles. Alternatively, you can also have a tie-up with the manufacturer to start vehicle sales showroom, etc.
  2. Service – Under this name, you can start any service including electronics good services, training institute, etc. All will be reflected under the service business. With 16 government institutes in Rohtak, this is one of the largest education hubs in India. You can start computer training or other coaching centers to help students move from other places for education purpose. Also, start a mobile or any electronic goods service as many students with and without family move to this place for pursuing their education.
  3. Grocery – Here you can think of starting a store with all grocery items A to Z. You will find more and more people coming to Rohtak in the near future. So you can certainly make a profit. Plan for an online store and you can get huge returns with minimal investment. All you need is the products and a storage place. Unlike a physical store where you need to invest in the infrastructure. Even you can think of expanding your service to the nearer cities with an online store.

Who will get a business loan

A business loan is given to an aspiring individual to start a business. But there are few mandates issued by the Indian government and all the lenders will abide by that. So only if you fall into that category, then you will get the business loan approved. They are not of very high standards which will stop your aspiration. However, basic requirements like age, citizenship, income, etc will decide on the approval for a business loan to start a business in India.

  1. One must be an adult and not the voting age but 3 years more than that. Which means completing 21 years is the right age to apply for a loan. Also, one should not exceed 65 to seek a loan before the loan period gets over.
  2. People who understand IT policy and have filed tax at least one year in the recent past is considered to avail the loan.
  3. Also, make sure your business plan is the right one and can generate a profit of minimum of 2 lakhs in the first year.

What documents are needed to apply for a business loan in Rohtak?

Once you understand the qualifying criteria, next you need to get the documents in place. These documents are required to prove your eligibility with the financing agency. Yes, they are listed below and all are provided by the Indian government.

  1. Photo ID – Voter ID, driving license, passport, aadhar card, etc will have your photo. So use them as proof to confirm your personal identity.
  2. Address verification – Again the same documents mentioned above contains the address of your residence which can be submitted for address verification. Alternatively, you can also use bills that are paid with the government such as electricity, telephone, LPG, etc.
  3. Age Confirmation – The same documents mentioned in section 1 will contain the age or date of birth so give them for age proof. Also, you can use your birth certificate or SSLC certificate for age proof.

Note: Use one in each section as proof

  1. PAN – Permanent account number issued by the Indian government is a must to apply for any business loan. It can be the establishment’s or the individual’s
  2. Finance Supporting Documents – Bank book with 6 months transaction details, bank statement, ITR records, etc.
  3. Any other loans were taken, or power of attorney given, etc also should be indicated to the lending agency.
  4. Submit a recently taken passport size photo

Interest rates and charges

The loan is given with a condition to be repaid in a certain duration. Also, there is some interest calculated to be paid on a monthly basis until the actual sum is compensated for. This is called the EMI. The interest amount varies based on the following criteria and is not uniform for all requestors. Therefore provide information about the following to discuss the charges in detail.

  • Duration for which the loan is requested for
  • Equity quotas
  • Cash flow
  • The cost required for starting the operation and running the show
  • CIBIL score
  • Business assets
  • Profit
  • Productivity

Charges based on the nature of the business loan

Apart from the above-mentioned details, the nature of the business also plays a role in fixing the charges. The commitment time, commissions, foreclosure rates, first installment payment sum, etc will influence the charges levied by the lending company.

Features of FlexiLoans business loan

Upon detailing about the loan terms and requirements we would also like to highlight our best features. This will arrest your concerns about whom should you choose for availing a business loan in Rohtak

  • Loan Amount

We offer a maximum of one core as loan and hence you can start small or medium scale business. Even you can start a high-risk business with huge investment and best returns.

  • Time Span

Only within 48 hours, we contact you. So you can complete the application form and not wait more but 2 business days. We will reach out to discuss all the details with you. Also, we will explain the EMI calculation with you to provide you an idea about monthly repayment amount.

  • Which City

In India, you can start a business in any state and we offer loan in more than 100 cities. Just access our website from anywhere in India to apply to start a business in any part of the country.

  • Paperwork and process

The process is simple and only upload supporting documents. No need to make any copies as we go paperless.

  • Security

There is no collateral required to be submitted. You can start on your own without pledging any guarantee.

We confirm that there is no hidden clause in our process and you can apply with proper documents to feel glad about becoming an entrepreneur.

How to get a loan from FlexiLoans

Now, that you understand the nuances of business loan, its time to apply for the loan with Flexiloan following the simple steps given below

  • Click the link
  • Fill the form
  • Upload documents
  • Click submit

We will respond to you about the rates and status of your loan.