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Business Loan in Surat

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No matter what you call, the diamond hub, Textile City or an Embroidery Capital of India, Surat has always been a dream city of entrepreneurs. It is one of the fastest growing cities in the world and is accounted to be the ninth largest city in India. Beholding its medieval charm and uninterrupted beauty the city serves as one of the prime business locations in India. It is also one of the prominent port cities offering wonderful business opportunities with its strategic location. The growth of this city as an important commercial hub has been powered by the succession of textile and diamond polishing & cutting industries. About 8 out of 10 diamonds around the world are cut and polished in Surat. Additionally, more than half of India’s man-made fiber including Zari, elastic straps and stopcocks used in plumbing are manufactured in Surat in thousands of small scale units spread across the city. The contributions of Surat to the economy of Gujarat makes it one of the most prosperous states of India. The per-capita GDP growth of this state is claimed to be more than India’s average. Furthermore, the historic city, Surat is projected to witness another breakthrough development with huge investment in heavy industries.  Thus, there are wonderful opportunities for business in the city. With its developing economy, the city encapsulates a lot under its hood for the existing and upcoming business ventures.

BEST IDEAS TO START BUSINESS IN SURAT

Garment manufacturing:

Surat is the largest manufacturer of man-made fibers and the second largest producer of cotton textiles in India. Thus, meaning that if one wants to start textile or garment related business in city raw material and textiles can be easily procured at the cheaper rates. This advantage can also be used to sell products to other states and countries.

Fast Food Restaurant

Surat is a foody city thus starting a fast food restaurant in the city can be a profitable venture. Even the profit margin in the food business is quite lucrative. Since many of the prominent food chains are not currently present in the Surat, therefore, starting own food business can help you yield great success.

Printing and Embroidery Unit

Almost all of the manufactured garments need printing and embroidery. Surat is already occupied with garment manufacturing units, therefore, this provides a good opportunity for the said business area. The required business can easily be expanded with the easy availability of resources and trained labors.

Realizing the potential that these small business ideas encapsulate FlexiLoans offers quick unsecured business loans in Surat. Through this, FlexiLoans aims to fulfill the all financial needs of entrepreneurs entailing to business setup and expansion.

CHECK YOUR ELIGIBILITY FOR AVAILING BUSINESS LOAN IN SURAT

For the availing the business loan a borrower and his business need to fall under the below eligibility criteria:

  • The minimum and maximum age limit for the applicant is 21 years and 65 years respectively.
  • The business should have gained the profit for at least for the past 2 years.
  • The applicant should have a good credit rating.
  • The applicant must have filed the IT returns for business for the last two years.
  • The applicant must have the minimum 3 years of experience in current business and overall 5 years of experience in business execution.

DOCUMENTS REQUIRED TO APPLY FOR BUSINESS LOAN IN SURAT

In order to qualify for a business loan an applicant needs to produce the below-mentioned documents for the purpose of verification:

  • Passport Size Photographs
  • Copy of Government ID proof; may it be Aadhar Card/Passport copy/Voter’s ID/driving license.
  • Address proof which may include any of the above-mentioned government ID proofs.
  • Financial Documents: ITR, Bank Statement for the past 3 months, balance sheet documents, cash flow statement. Note: all of the financial documents should be duly audited by the CA.
  • Bank statements of the last six months.
  • Proof of Continuity Of Business
  • Board resolution certificate if Pvt. Ltd. Co. is co-borrower and Partnership Authorization Letter if the partnership firm is co-borrower.
  • PAN card of the company or an individual.
  • Statement of Computation of Income and ITR for last 2 years.

INTEREST RATES AND COMMERCIAL LOAN FEES FOR A BUSINESS LOAN IN SURAT

FlexiLoans make endeavors to always stand by your side. It assures to lend your financial help for meeting your all working capital demands.  The lending criteria used by FlexiLoans are easy and ensures imposing the lowest rates of interest. For the purpose of calculating interest rates and commercial loan fees levied on SME or MSMEs willing to undertake the business loan we consider the following factors:

  • Type of the business: Partnership, Proprietorship, Private or Public Limited.
  • Duration and amount of loan.
  • Operating Capital of the business.
  • The cash flow of business.
  • Rates of inventory.
  • Worth of assets of the company.
  • Monthly turnover of the business.
  • Business type and its history.

WHY PREFER FLEXILOANS RATHER THAN OTHER FINANCIERS?

A business thrives through the right financing. And right financing starts through a right financier. Thereby, it becomes important for the borrower to search for the right lender. However, we completely understand this and ensure to provide you the easiest way to avail finances. With our simple strategies and procedures, you would probably acclaim being associated with us. To explore more about our benefits read below:  

  • Paperless: No needs to visit us in person fill online application and get your credit score generated within a day.
  • No collaterals: We simply believe in your dreams. We demand no guarantee and offer 100 percent loan amount.
  • Fast track procedure: Our loan disbursement procedure takes minimal time. Once the documentation is done you can get your loan approved within 48 hours.
  • No hidden charges: Our procedures are completely transparent and no hidden charges are imposed.
  • Wide existence: We are not expanding business centers instead we are extending relationships. We are present across 100 cities of India and still on a move to cover more regions.  
  • Extended capacity: We can offer you the loan amount up to Rs 1 crore.

HOW TO APPLY FOR A BUSINESS LOAN IN SURAT

Log onto our website click to apply and get rest everything assured with us.


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