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Home > Business Loan In Tiruppur

Business Loan In Tiruppur

The very name Tiruppur, in TN, reminds us about undershirt called as banian or baniyan in the Tamil language. This place has many cotton clothes manufacturing units including the printing, knitting wet processing unit, spinning facility, etc. Also, the ancillary units include yarn process, cones, embroidery, lace making, and button supply unit. Overall, more than five hundred production units and actively taking part in the garments business.

If you want to become a business owner, then consider operating from Tiruppur. You need not necessarily start a garment unit, but export is a great decision to see some revenue in dollars. 80% of cotton export in India is from Tiruppur. Also, you can get the clothes to the Chennai city which has a dense population to generate profit. In short, one can think about using the clothes business in Tiruppur to the best of their knowledge and make huge money. Do not worry, about the business loan in TiruppurIt is now quick and easy to apply for a loan up to 1 crore.


Advantages in taking a business loan in Tiruppur

Online Opportunity – When we talk about export you need not buy the clothes and set up a shop that involves infrastructure cost, salesperson salary, maintenance etc. But, you can simply start an online store and sell in just one click. All, you need is a place to store the things or even you can talk with the manufacturer to send items ordered to the customer directly. However, you can plan a flexible working model to earn a profit

Small Investment and Good Returns – There is no need for huge investment and based on your skills and experience you can invest and still see returns. No great IIM MBA is required but a basic business skill will help you become a business magnate.

Good turnover across the year – Clothes business is not seasonal as across the year different parts of the country will require cotton clothes and you can export and keep your business rolling-in motion.

Food business – If there are more manufacturing units in Tiruppur, then you start a food business and serve food to all the workers at a discounted price. This will give you a sense of satisfaction and money.

Dispatch Riding Service – Also, you can think about starting a freights business and help exporters ship their garments.

So there are multiple business opportunities and don’t think twice apply for a business loan in Tiruppur today.


Who is qualified to avail for a business loan in Tiruppur

People who are well educated or have a hunger to become an entrepreneur but don’t have a source for investment. Then, stop worrying and contact us. Additionally,  a community of students after graduating from college wants to support the country economy with some business, then we are there to fund you. You can take out a loan to start a new business including export, wholesale, or start a retail outlet reach us for the loan.  In summary, anyone with a business idea but having no money for investment can apply for a loan. However, as per the Indian constitution, there are certain legal terms for eligibility and they are listed below

  • Age limit: Only adults over 21 can apply for the loan and must not exceed 65 years. The condition is that they can take over the payment of the loan. Only mature and stable people can apply for a loan.
  • Tax papers: People with clean tax documents get a loan quickly. At least the last year of the tax return must be submitted.
  • Commercial profit: The planned commercial profit should not be less than two lakhs per month.

Basic Eligibility Criteria

Minimum Business Vintage 1 year
Monthly Business Sales Minimum 2,00,000

What is special about FlexiLoans among hundreds of financiers?

Those who seek a loan always have confusing thoughts. They are worried about which provider is the best, what are their terms and timeline to repay, and so on. We cater to all your concerns and ensure trouble-free lending. Below are some of our loan features.

  • First, you are eager to know how much loan you can ask for. We offer up to a crore.
  • Next, you want to know about the warranty. We do not demand security in any kind. Absolutely no hidden conditions.
  • It’s time to discuss interest rates and calculations. Yes, the calculation of the EMI a lot of time, but we simplify and explain it clearly.
  • Now we assure you that you can apply for a loan from home and get approved within no time. The next concern for you is the documentation. We promise once again that you do not have to worry too much because there is no paperwork required. You can apply online with one click. Come online, connect, upload, and submit documents for approval within 2 business days.
  • We serve 100+ cities in India. Currently, our focus is on Tamil Nadu due to many budding entrepreneurs.

Documents Required for Business Loan in Tiruppur

Personal KYC PAN card
Residential Address Proof (Any One) Rent Agreement | Driving License | Voter's ID | Ration Card | Passport | Aadhar Card
Banking Last 6 months current account bank statements
Business KYC (Any One) GST Registration Certificate | Shops & Establishment Certificate | Business PAN Card

Wondering what next?

Apply for a small business loan to kick start your business in Tiruppur.


Frequently asked questions

What are the purposes for which I can get a loan via in Tiruppur FlexiLoans?

FlexiLoans is here to provide you financial access for your business funding needs. You have to undergo simple and transparent Credit Evaluation, basic documentation before we disburse the loan. You may get loans in Tiruppur via FlexiLoans for:
  • Expanding your business
  • Servicing regular working capital needs
  • Managing seasonal working capital requirements
  • Manage short term cash flow gaps

Why should I avail loan in Tiruppur via FlexiLoans?

Quick credit assessment ensures fast disbursal of loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business in Tiruppur.

What documents are required to apply for a loan in Tiruppur?

KYC document

  • - Pan card

Proof of residential address (any one)

  • - Rent Agreement
  • - Driving License
  • - Voter's ID
  • - Ration Card
  • - Passport

Banking

  • - Last 6 months of bank statement of current account

Business KYC (any one)

  • - GST Registration Certificate
  • - Shop Establishment Certificate

Financial documents (For loans greater than 20 Lakhs)

  • - 2 years Audited financials
  • - Last 2yrs ITR
  • - GST Returns of 6 months

Are there any charges other than interest rate that I have to pay to avail the loan in Tiruppur?

We may charge processing fee to facilitate the loan towards legal and documentation charges. You may be charged penal charges for late or irregular payment behavior.

How can I get a loan under MSME in Tiruppur?

You are eligible for an MSME business loan in Tiruppur if your business has been running for at least 1 year and has monthly total sales of at least ₹2,00,000

What would be the duration of the business loan in Tiruppur?

The average tenure of business loans in Tiruppur sanctioned by FlexiLoans is 18 to 36 months.

You can get an unsecured business loan up to ₹1 crore at FlexiLoans.

Quick credit assessment ensures fast disbursal of loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business.

KYC document

  • - Pan card

Proof of residential address (any one)

  • - Rent Agreement
  • - Driving License
  • - Voter's ID
  • - Ration Card
  • - Passport

Banking

  • - Last 6 months of bank statement of current account

Business KYC (any one)

  • - GST Registration Certificate
  • - Shop Establishment Certificate

Financial documents (For loans greater than 20 Lakhs)

  • - 2 years Audited financials
  • - Last 2yrs ITR
  • - GST Returns of 6 months

You are eligible for an MSME business loan if your business has been running for at least 1 year and has monthly total sales of at least ₹2,00,000

The average tenure of business loans sanctioned by FlexiLoans is 18 to 36 months.