Originally Tamil Nadu was split into 13 districts and Salem was one among them and it is the 5th largest city in TN. With a land area of 5205 Km2 there are numerous business opportunities in Salem District. It is also called a city of mango and steel. Starting your own business in Salem is a good idea because Salem is located near mountains and hence contains a large amount of magnetite, bauxite deposits and other minerals. Also, clothing business will flourish as it is located near Coimbatore which is called Manchester of South India.
Starting a food business is a good idea as it produces 25-30 tonnes per hectare of tapioca which is used in the production of Sago food. Across the world, Salem is the #1 producer of tapioca and called as land of Sago. It is certainly motivating to know that one can start a business related to food, clothing, and steel in Salem and there are great prospects. Apply for a new business loan in Salem to make your industrialist vision come true.
Small scale and large scale business opportunity – From the data presented about Salem district in TN, one can understand that there is scope for different business opportunity. Whether you dream to start a small business like stating a food store or clothing boutiques, or you want to give a tough fight with giant steelmakers in Salem? In both cases feel glad that you can avail the unsecured business loan in Salem up to INR one crore.
Seasonal Business – With plenty of Mangoes growing in Salem it is easy to opt for a seasonal business and make money by exporting mango.
Sago Food Chain – Multiple chains of outlets in the food business is a trending idea. It is not only limited to the international brand like Mc Donald’s and Pizza Huts but one can think about initiating business with Sago in Salem. Thattu vadai set is a popular dish in Salem. Tap the abundance of Tapioca availability and invest in this food outlet business.
SSI – Small scale industries are always well received by TN government and hence one can always think about starting a small business with minimum investment. Additional to the loan given by the government it is good to apply for a loan from best providers and expand the business.
Individuals who are well educated or have some basic knowledge about business but lack fund can apply for a loan. Also, a group of people with a business plan can approach for a loan. One can take a loan to start a new business or expand their existing business with additional unit etc. In short, anyone can apply for a loan. But, this anyone must fall into the following category to become eligible legally.
Every financial institution asks for several documents before approving the loan. These documents may be limited to identification and address proof. Sometimes it may be expanded in submitting collaterals. However, there are few basic mandates without which the banks are not allowed to offer a loan. The details of such documents are listed below.
Per TN state government policy following criteria must be considered to calculate the interest rate for MSME – Micro, Small & Medium Enterprises and SME – Small or Medium Enterprise business. You can reach us directly to understand our rates with clarity.
However, EMI – Equated Monthly Installment to be paid for any loan depends primarily on the loan amount and the tenure. Longer the tenure, smaller is the EMI per month. Higher the loan amount, higher the EMI.
Client to client depending on the business plan we discuss other rates at the time of providing a loan.
There are always several thoughts pondering in people’s mind looking for a loan. They worry about whom to choose for a loan, how to understand the terms, and is it possible to repay etc. We address all your concerns and assure you a hassle-free loan processing method. Find below some of our loan features.
Thus, at FlexiLoans, we provide good rates, no paperwork, and best amount without any collateral.
What next? Apply. How?
Don’t wait and submit an application for a loan to start or expand your business. Get your documents scanned online and Click here to apply for Business loan in Salem.