Tamil Nadu (TN) holds the first 5 places in the different industry making India move up the business ladder across the globe. Yes, we are not talking about this without data. Let us look at some to give you a glimpse of business opportunity available in TN. In India, the maximum number of factories is found in TN (37331 units). TN alone has 55 Special Economic Zones (SEZ) in India which is the largest and stands 4th in India’s overall export business. In agriculture, TN comes 4th in line in producing rice next to Punjab, Uttar Pradesh, and West Bengal.
Largest egg producer pride goes to TN with Namakkal district only contributing 65% to the same. Sivakasi, the cracker city in TN is the largest hub that manufactures firecrackers making India hold 2nd place worldwide. Coimbatore city also called a Pump City of Asia contains 700 wet grinder manufacturing units. Chennai in TN makes 3 cars per minute. With this data do you see a dearth to business opportunity in TN?
Every individual who has an entrepreneur dream can apply for a loan. Even self-employed and the proprietary firm can take a loan to start and expand their business. A limited company, partnership firm and others also can approach for a loan. There are many criteria to approve a loan that varies from bank to bank. However, few basic eligibility criteria remain the same across loan lending firms. They are as listed below.
Co-applicants – Business loan in Tamil Nadu does not demand this clause and it is optional.
Being eligible alone will not help get a loan and one must produce necessary documents to get the loan approved from the financial institutions.
1. Documents Required
– PAN Card
2. Residential Address Proof (Any One)
3. Last 6 months Current Account Bank Statement in Net Banking PDF format
4. Business KYC (Any One)
– GST Registration Certificate
– Shops and Establishment Certificate
Credit Information Bureau India Limited (CIBIL) score
In general, remember if your loan duration is long, and then you can enjoy low Equated Monthly Installment (EMI). But a volatile business owner must be willing to pay high EMI.
There are other charges we discuss with our clients at the time of processing loan which includes
All these vary from case to case and hence we would like to discuss one on one and not listing down any general amount here.
When there are several bankers, and financial organization to offer a loan, you may wonder why to take help from FlexiLoans. Let us list down the features of our loan process to make you feel comfortable to reach us.
We at FlexiLoans aim to offer the lender with the secured way of availing loan and that is our motto. We support you and your business by letting them grow and make your vision become visible to all.
We welcome all business owners and companies to click here and apply to get a loan without any delay.