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Business Loans in Hyderabad

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The capital of two states Hyderabad and Andhra Pradesh is the hub for pharmaceuticals and IT centre. Leading MNC companies have their headquarters in this historical city due to large area spaces and ease of norms. The government plans to make Hyderabad the first of its kind in India – A pharma city. According to researches around 20% of the total pharma exports of India, is accounted by Hyderabad. With the rise of online pharmacy this city is going to give rise to the pharma and the IT sector. The industrial sector in the city is rapidly growing and is considered as country’s capital for bulk drug and vaccine production. It is also considered as a prominent hub for aerospace, computer and electronic related hardware industry

 

With one of the greatest histories of our country, the tourism in the city has also increased manifold increasing revenue of SME tourism hubs and retail providers. Also known as the Pearl City, it is a famous centre for pearl and glass bangles giving an industry to grow from for the local retailers. SME’s and MSME’s are also a huge player in the service sector for countries like America and Canada to outsource their call centres here. With great opportunity growth, availing the loan in this city shows potential.

Benefits of taking up a loan in Hyderabad

 

  • Customised SME needs

Not every business requires the same kind of business loan. With different business comes versatility especially in the SME sector. Taking up a loan will help you grow your business in the right path.

 

  • Reasonable Interest Rates

With taking up a loan from a renowned bank, sometimes interest rates kill you, discouraging you from taking up a loan. Digital Lending now gives you the cushion for the interest rates that suit your capacity.

 

  • Expanding Business

With Hyderabad showing great potential to carry on business for the future, taking up a loan, saving on equity and concentrating on your business are the key factors we aim to provide.

Eligibility criteria for business loans in Hyderabad

A business loan can be provided to an individual, a partnership, limited liability partnership, proprietary firm, self employed. To be eligible for a business loan there are a lot of factors that are considered. Every bank that offers loan will look into many criteria prior to sanctioning it. Few important ones are:

  • Age Limit: The applicant should be min 21 years & max. 65 years.
  • Income: Business should be profit making at least for the past 1 years.
  • Turnover: Rs. 200,000 p.a. should be the minimum annual income.
  • Co-applicants: This is optional to the applicant, not mandatory in case of business loan.

Documents required for business loans in Hyderabad

Here is the basic documentation required for getting a Business Loan:

  • A copy of the PAN card of the person or company
  • An identity proof which might include any of Aadhar Card, Passport, Voter ID, PAN Card or Driving License
  • An Address Proof which can consist of either of Aadhar Card, Passport, Voter ID or Driving License
  • Bank statements from the last 6 months
  • ITR statement from the last year as well as audited balance sheet and P&L statement for the past 2 years
  • Cash Flow statements
  • Debt Obligations
  • Application form with a recent photograph of all co-applicants
  • Other documents as required which can include declaration of ownership, MoA, Resolutions, Power of Attorney or any other document required by the bank/NBFC or as required by the lender

Interest Rates and charges for business loans in Hyderabad

Interest rates for an SME or MSME business are calculated on various aspects and tangents taking in criteria the CIBIL score, net worth, profitability of the business, cash flows, working capital and inventory ratios and the tenure of the loan. Usually a longer dated loan would have a lower EMI while a risky business would have a higher EMI.

Nature and charges on business loans

Along with these there are other charges like commitment charges, foreclosure charges and prepayment charges which are decided during the process of the loan and differ from loan to loan based on the criteria of the loans.

Why apply for business loans at Flexiloans?

Here are flexiloans it is now extremely convenient to apply for business loans with a full hassle free process. We provide loans in more than 100 cities all over India with innovative product solutions for our customers.

  • We are completely paperless so no worry about losing documents and eases convenience. Just fill the form, upload your documents, get approved in less than 48 hours and the loan is yours.
  • We provide collateral free loans i.e.100% unsecured loans with no security, making the process less cumbersome for you.
  • We have no hidden fees and charges and are completely transparent; securing your trust is what is important to us.
  • We grant loans with a lending capacity up to Rs. 1 Crore.

Flexiloans aims to provide you with the easiest way of securing a loan and that is our number one priority. We want you and your business to grow to the vision you have seen for it.

How to apply for a business loan from Hyderabad

If you are a business owner or a company, please do click here to apply today