Business Loan in Kolkata

Budding entrepreneurs in the metro city are coming up with great start-up ideas. Such start-ups in the next 10-years will help in the nation’s economic growth. Keeping such entrepreneurs’ and the economy’s interest in mind, FlexiLoans has come up with extensive business loan in Kolkata, that can help the public in different ways. Whether you are looking for a term loan or you are looking for a small business loan in Kolkata, FlexiLoans can assist you with both.

Purpose of Getting A Business Loan in Kolkata?

Getting a small business loan in Kolkata can be a smart move for you and your business. Here are six compelling reasons why:

1. Fuel Your Growth:

If you dream of expanding your business, opening a new branch, increasing inventory, or hiring more staff, a business loan can provide the financial boost you need. That means you can reach new customers and increase your profits.

2. Seize Opportunities:

Kolkata is a city full of opportunities. You may find earning potential from real estate ventures to partnerships. Having access to a business loan means you can quickly seize these opportunities when they arise. You will take advantage of a chance to make your business better.

3. Smooth Cash Flow:

Sometimes, businesses face temporary cash flow gaps, especially during the off-season. A business loan can act as a financial cushion, ensuring you can pay your bills, cover payroll, and keep your business running smoothly, even when times are tough.

4. Invest in Technology:

In today's world, staying competitive means keeping up with the latest technology. A business loan can help you invest in cutting-edge tools and software that improve efficiency and customer service, ultimately boosting your bottom line.

5. Marketing and Promotion:

Effective marketing is crucial for expanding the customer base in a city like Kolkata. A business loan can fund marketing campaigns, advertisements, and promotions to get the word out about your products or services, assisting you to stand out in the market.

6. Build Credit History:

Successfully managing a business loan can improve your credit history, making it easier to secure more financing in the future. This is crucial if you plan to expand further or need additional capital down the road.

Basic Business Loan Eligibility Criteria in Kolkata

FlexiLoans requires you to meet the following criteria before granting loan approval:

• You must hold Indian citizenship and do not have any debt default history.
• You fall in the age range of 21-65 when filing the loan application.
• You must have an operational business for one year from the registration date.
• Your minimum monthly sales turnover should be ₹ 2 lakh for existing businesses.

Features and Benefits of Business Loans in Kolkata

Here are some of the features and benefits of FlexiLoans loan for business in Kolkata:

• Accessibility: FlexiLoans provides easy access to business loans through its online platform and mobile app. You can apply easily by updating basic details and uploading essential documents online. FlexiLoans also has a dedicated team of experts who can help you with any queries or challenges regarding the loan process.
• Quick Disbursal: At FlexiLoans, we understand your business urgency and ensure fast disbursal of the loan amount into your account within hours of approval. You don't have to wait days or weeks to get the funds you need to grow your business.
• Types of Loans: We offer a range of small business loans that cater to different needs and situations of your business. Depending on your eligibility and requirements, you can choose from term loans, vendor financing, MSME loans, line of credit, invoice financing, and merchant cash advances.
• High Loan Amount: We provide business loans starting from ₹ 50,000 and going as high as ₹ 1 crore. You can avail the loan amount that suits your business needs and repayment capacity without any collateral or guarantor.
• Low Interest Rate: We offer competitive interest rates starting from 1% per month onwards. You remain stress-free of associated charges with us because we levy minimal processing fees.

Business Loan Interest Rate in Kolkata

The interest rate for a Kolkata business loan, like in many other places, is influenced by several key factors.

• Credit Score: Your personal and business creditworthiness plays a significant role. Lenders assess your creditworthiness to determine the risk of lending to you. A higher credit score usually leads to lower interest rates, suggesting lower risk.
• Loan Amount: The amount you want to borrow can impact the interest rate. Larger loans may have lower interest rates, while smaller loans might have slightly higher rates.
• Loan Term: The duration of the loan also matters. Short-term loans often have higher interest rates compared to long-term loans. This is because lenders take on less risk with shorter repayment periods.
• Business Financials: Lenders evaluate your business's financial health, including revenue, profitability, and cash flow. A strong financial track record can lead to better interest rates.
• Industry and Business Type: The industry your business operates in can affect the interest rate. Some industries are more riskier than others. The type of business (e.g., sole proprietorship, LLC, corporation) may also influence rates.
• Market Conditions: Local and national economic conditions, including inflation rates and the prevailing interest rate environment, can impact business loan interest rates. In times of economic uncertainty, rates may rise.
• Collateral: Secured loans backed by valuable assets tend to have lower interest rates. Lenders have collateral to recover their funds if the borrower defaults.
• Lender Policies: Different lenders have different policies and risk appetites. Shop around and review offers from different lenders to find the best interest rate for your business.

Here is the insight into the FlexiLoans interest rate on some of their most popular business loan products.

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

Business Loan Document Required

You must furnish the following papers to qualify for a small business loan in Kolkata.

• Identity Proof: Provide your Aadhar card, passport, or voter ID as proof of identity.
• Address Proof: Submit documents like your utility bills or rental agreement to establish your business's address.
• Bank Statements: Lenders will require your business's bank statements for the past six months
• Income Tax Returns: Provide your income tax returns for the last few years
• GST Registration: If applicable, include your GST registration certificate.
• Business Vintage: Show how long your business has been operational.
• Financial Statements: Balance sheets, profit and loss statements, and cash flow statements to demonstrate your business's financial performance

How to apply for a Business Loan in Kolkata?

You can follow the steps below to apply for a Kolkata loan for business with FlexiLoans.

• Visit FlexiLoans Website
• If you are a first-time user, sign up for an account. If you already have an account, log in to start.
• Provide some basic information about yourself and your business. 
• Specify the loan amount you need and the purpose of the loan. 
• Upload Documents
• Carefully review the information you've provided and the loan terms. Make sure everything is accurate.
• We will analyse your application and documents to determine repayment potential. 
• In case of approval, we will mail you the loan terms highlighting the interest rate and repayment schedule.
• Read the loan terms and accept the offer electronically 
• Once we receive your acceptance, we will disburse the funds.

Why Get A Loan from Flexiloans?

Helping patrons in over 100 cities in India, FlexiLoans have proved to be one of the finest financial institutions in the country. Here are a few reasons why we are the right choice for you –

1. We offer collateral-free, unsecured loans.
2. There is no extra cost or hidden charges included.
3. Easy, paperless, and faster application. Get your loan approved within 48-hours.
4. Get a loan up to 1 crore. 

Frequently asked questions