Business Loan in Delhi NCR

Delhi – The capital of India and one of the top metro cities have turned out to be a hub for young, brimming entrepreneurs over the past few years. The place has seen many small businesses grow to become significant business houses inspiring many others during the course.

Keeping Delhi's entrepreneurial growth in mind, we, at FlexiLoans.com, have come up with business loan in Delhi NCR for anyone who is looking for chances to make it big in the world of business.

With FlexiLoans.com, now you can quickly get a term loan, given that you meet all the desired criteria. We understand the importance of expanding your business, and therefore, we ensure that you do not have to wait too long to get your GST business loan in Delhi NCR approved.

Benefits of Taking Business Loans

Ever wondered why you should take up a small business loan in Delhi NCR? There are several benefits behind the same. Take a look –

• Expand Your Business

If you wish to expand your business, there are plenty of things that you have to take care of. The very first thing that you need to understand the importance of capital. If you are low on money, chances are, your business won’t be able to grow. By taking up a loan for business in Delhi NCR, you can have enough capital to expand your business anywhere you like.

• Get Approval Instantly

The best thing about getting an unsecured business loan in Delhi NCR is that given your documents are on point and you fulfill all the eligibility criteria for the loan; it gets approved instantly. And you get your vendor financing amount in your bank account within 48 hours.

• Always Stay Ahead of The Competition 

Another advantage of getting a loan against POS is that you get to stay ahead of everyone in the business. With more capital, you can improve your business’ efficiency, thus always ruling the commercial world.

•  Start with E-Commerce Business

If you wish to go online, with enough money, you can start your own e-commerce business.

Documents Required for Business Loan in Delhi NCR

The documents required for a business loan in Delhi NCR may vary depending on the lender and the type of loan. However, some of the common documents that you may need to submit are:

• Identity Proof: You must furnish a valid government-issued identity document like an Aadhar Card, Passport, or Driver's License.
• Address Proof: Furnish your utility bill (electricity, water, or gas), rental agreement, or property tax receipt.
• Business Existence Proof: You must submit a business registration proof, certificate of incorporation, partnership deed, or shop and establishment certificate
• Legal Documents: Any legal documents, such as licenses, permits, or agreements relevant to your business.
• Income Tax Returns: Your business's income tax returns for the previous financial years showcase your earnings, validating your repayment capacity.
• Bank Statements: Include your previous six months’ business bank statements for a specified period to display your financial transactions and cash flow.
• Financial Statements: This comprises your Profit and Loss Statement, Cash Flow Statement, and Balance Sheet. These documents offer a snapshot of your financial status. If you are applying for a loan amount greater than ₹ 20 lakh, you must also provide your financial documents, such as audited financials, ITR, and GST returns.
• GST Registration: If applicable, provide your GST registration certificate to demonstrate compliance with tax regulations.
• Collateral Documents: In case you are applying for a secured business loan and pledging commercial property or assets, present ownership documents for verification.
• Business Plan: A well-structured business plan outlining your company's objectives, operations, financial projections, and repayment strategy is crucial.

• Project Report: A project report outlining the details and feasibility is essential for specific purposes like expansion or acquisition.

• Debt Obligations: Details of existing loans or debts, if any.

Eligibility Criteria for Business Loans in Delhi NCR

The eligibility criteria for business loans in Delhi NCR may differ from lender to lender and from loan to loan. However, some of the common factors that lenders consider are:

• You must be an Indian citizen without defaulting on any previous loan.
• Your age should fall between 21 and 65 years when applying for the loan and at the time of loan maturity.
• You must have a registered and operational business for at least one year, with a minimum monthly turnover of ₹ 2 lahks.
• You must possess a decent personal credit history and a good business reputation.

How to Apply for Business Loans in Delhi NCR with FlexiLoans?

To apply for a small business loan with FlexiLoans, you can follow these simple steps:

• Start by going to the FlexiLoans website from your computer or mobile device.
• Sign up for an account on the website. You will need to provide some basic information about yourself and your business.
• Once you have an account, you can initiate the loan application. 
• Use a business loan EMI calculator to determine your need and affordability.
• Fill out the required information, including details about your business, the loan amount you need, and the purpose of the loan.
• We require certain documents to process your application. These typically include business financial statements, bank statements, and identity proof. Scan or upload these documents as instructed.
• After uploading your application and documents, please wait for our credit team to review your request. They will assess your eligibility and creditworthiness.
• repayment schedule
• We will notify you about the approval decision. If approved, we will send a loan approval letter via mail. This letter will include the loan terms, repayment schedule and interest rate.
• If you are okay with the loan terms, you can accept the offer electronically on our FlexiLoans platform.
• Once you accept the loan offer, we will credit the funds to your business's bank account. The time it takes to receive the money may vary.
• Make on-time payments as per the agreed-upon schedule. FlexiLoans offers flexible repayment options, so choose the one that suits your business best.
• If you have any questions or need assistance during the whole process, you can reach out to our customer support team for help.

Business Loan Interest Rate in Delhi

The interest rate for a business loan may vary with different business loan providers in Delhi depending on various factors. The very first is creditworthiness, primarily determined by your credit score, which is the pivotal factor influencing your business loan's interest rate. A higher credit score, ideally above 750, signifies a stronger likelihood of timely and full loan repayment, resulting in a lower interest rate.

Lenders also scrutinise your business history and performance. They also review if you have an established and profitable company. Having one is deemed low risk, making you eligible for reduced interest rates. Industry-specific risk, market conditions (like inflation and liquidity), and loan amount and terms further shape the interest rate for your business loan.

The final rate of interest will depend on the amount of loan, tenure, credit profile of the customer, etc. The processing fees for all types of business loans are up to 2% of the loan amount.

Why Choose FlexiLoans for Your Business Loan in Delhi?

FlexiLoans is an online lending platform. Here are some of the benefits of choosing a business loan from a private financer in Delhi like FlexiLoans:

• Quick application process: You may apply for a business loan from anywhere in India by sharing a few crucial information on the website or app. The application process typically takes 5 minutes and does not require any physical visits or paperwork.
• Fast credit assessment: FlexiLoans uses technology and risk models that focus on alternative methods for scoring customers. The credit assessment completion takes only minutes, following which you get instant approval.
• Quick Disbursal: As said before, FlexiLoans understands the urgency of your business needs and ensures fast disbursal of funds within 48 hours of loan approval. You don't have to wait for days or weeks to get the money you need to grow your business.
• No collateral required: FlexiLoans does not ask for any collateral or guarantor to secure your business loan. You may obtain up to ₹ 1 crore of unsecured business loans based on your eligibility and credit profile.
• Flexible repayment options: FlexiLoans offers flexible repayment options such as EMI (Equated Monthly Installment), bullet payment (lump sum payment at the end of the tenure), or line of credit (pay interest only on the amount used). You can select the option that aligns with your cash flow and convenience.
• Types of Loans: FlexiLoans provides a range of loan products to suit your specific business requirements. Whether you need a term loan, a line of credit, invoice financing, vendor financing, or an MSME loan, you can find the best option for your business at FlexiLoans.
• Low Rate of Interest: FlexiLoans charges interest rates as low as 1% per month, depending on your credit profile and loan type. You can also enjoy flexible repayment options and no prepayment charges. FlexiLoans aims to provide affordable and convenient financing solutions for your business.
• Credit Score Not the Only Criteria: FlexiLoans does not rely solely on your credit score to assess your loan eligibility. They use alternative data sources and advanced algorithms to evaluate your business potential and creditworthiness. Even if you have a low or no credit score, you can still get a loan from FlexiLoans if you have a strong business profile.
• Wide Coverage: FlexiLoans operates in over 1000 cities across India, including both urban and rural areas. You can get a loan from FlexiLoans no matter where your business is located in the country. FlexiLoans has partnered with over 100 merchants and platforms to reach out to more customers and provide them with easy access to finance.
• Customer Satisfaction: FlexiLoans has over 4 lakh happy customers who have benefited from their business loans. They have received positive feedback and testimonials from their customers who have appreciated their service quality, speed, transparency, and support. FlexiLoans strives to deliver the best customer experience and help small businesses grow and succeed.

Frequently asked questions