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BUSINESS LOAN IN KOLKATA

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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.

Types of Business Loan Interest Rate Loan Amount Loan Tenure
FlexiLoans Term Loan 1% per month onwards ₹ 50,000 to ₹ 1 crore Up to 2 years
FlexiLoans Loan Against POS 1% per month onwards Up to ₹ 1 crore 3 months to 3 years
FlexiLoans Line of Credit Loan 1% per month onwards Up to ₹ 1 crore Up to 2 years

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

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

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

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

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

What are the requirements of collaterals and security?

FlexiLoans provides only collateral free business loans in Kolkata. So, you do not need collateral for applying for a business loan.

What are the common purposes for which I can use a business loan in Kolkata?

You can use a business loan in Kolkata for various purposes, such as expanding your business, buying equipment, managing inventory, covering operating expenses, hiring staff, marketing, or even starting a new venture. It is like a financial tool to help your business grow and succeed.

What is the role of collateral in securing a business loan in Kolkata?

Collateral serves as security for a business loan. If the borrower can't repay, the lender can take the collateral, like assets or property, to recover their money.

Can I get a business loan with a low credit score in Kolkata?

Getting a business loan with a low credit score in Kolkata can be challenging, but not impossible. Some lenders offer loans with higher interest rates or require collateral. Building better credit by paying bills on time and managing finances responsibly can increase your chances of approval.

Are there different types of business loans available in Kolkata?

Yes, there are various business loans in Kolkata, including term loans for long-term needs, working capital loans for daily operations, equipment loans for buying machinery, and more, tailored to different business requirements.

What is the processing fee for a business loan in Kolkata?

The processing fee for a business loan varies among lenders but is usually a one-time charge. It covers the cost of assessing and processing your loan application.

What documents do I need to submit with my business loan application?

You will typically need business financial statements, bank statements, identity proof, and loan application forms. These papers help lenders evaluate your eligibility for a business loan.

Are there tax benefits on business loans?

Yes, businesses in Kolkata can claim tax deductions for the interest payment on their business loans by mentioning the same on the company financial statement.

Can I use a business loan for debt consolidation in Kolkata?

Yes, you can use a business loan to consolidate existing debts in Kolkata. This can help simplify repayments and potentially reduce interest costs, making it easier to manage your finances.

What is the difference between term and working capital loans?

Term loans provide a lump sum for long-term needs, like buying equipment. Working capital loans offer funds for day-to-day operations and come with short-term repayment plans.

What is the difference between a fixed and floating interest rate for a business loan in Kolkata?

A fixed interest rate stays the same throughout the loan period. In contrast, a floating interest rate can change over time, usually influenced by market conditions.
What are the purposes for which I can get a business loan in Kolkata via FlexiLoans?

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

Why should I avail business loan in Kolkata via FlexiLoans?

Quick credit assessment ensures fast disbursal of business loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business in Kolkata.
Are there any charges other than interest rate that I have to pay to avail the business loan in Kolkata?

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

We may charge processing fee to facilitate the business loan towards legal and documentation charges. You may be charged penal charges for late or irregular payment behavior.
What are the requirements of collaterals and security?

What are the requirements of collaterals and security?

FlexiLoans provides only collateral free business loans in Kolkata. So, you do not need collateral for applying for a business loan.
What are the common purposes for which I can use a business loan in Kolkata?

What are the common purposes for which I can use a business loan in Kolkata?

You can use a business loan in Kolkata for various purposes, such as expanding your business, buying equipment, managing inventory, covering operating expenses, hiring staff, marketing, or even starting a new venture. It is like a financial tool to help your business grow and succeed.
What is the role of collateral in securing a business loan in Kolkata?

What is the role of collateral in securing a business loan in Kolkata?

Collateral serves as security for a business loan. If the borrower can't repay, the lender can take the collateral, like assets or property, to recover their money.
Can I get a business loan with a low credit score in Kolkata?

Can I get a business loan with a low credit score in Kolkata?

Getting a business loan with a low credit score in Kolkata can be challenging, but not impossible. Some lenders offer loans with higher interest rates or require collateral. Building better credit by paying bills on time and managing finances responsibly can increase your chances of approval.
Are there different types of business loans available in Kolkata?

Are there different types of business loans available in Kolkata?

Yes, there are various business loans in Kolkata, including term loans for long-term needs, working capital loans for daily operations, equipment loans for buying machinery, and more, tailored to different business requirements.
What is the processing fee for a business loan in Kolkata?

What is the processing fee for a business loan in Kolkata?

The processing fee for a business loan varies among lenders but is usually a one-time charge. It covers the cost of assessing and processing your loan application.
What documents do I need to submit with my business loan application?

What documents do I need to submit with my business loan application?

You will typically need business financial statements, bank statements, identity proof, and loan application forms. These papers help lenders evaluate your eligibility for a business loan.
Are there tax benefits on business loans?

Are there tax benefits on business loans?

Yes, businesses in Kolkata can claim tax deductions for the interest payment on their business loans by mentioning the same on the company financial statement.
Can I use a business loan for debt consolidation in Kolkata?

Can I use a business loan for debt consolidation in Kolkata?

Yes, you can use a business loan to consolidate existing debts in Kolkata. This can help simplify repayments and potentially reduce interest costs, making it easier to manage your finances.
What is the difference between term and working capital loans?

What is the difference between term and working capital loans?

Term loans provide a lump sum for long-term needs, like buying equipment. Working capital loans offer funds for day-to-day operations and come with short-term repayment plans.
What is the difference between a fixed and floating interest rate for a business loan in Kolkata?

What is the difference between a fixed and floating interest rate for a business loan in Kolkata?

A fixed interest rate stays the same throughout the loan period. In contrast, a floating interest rate can change over time, usually influenced by market conditions.

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.

We may charge processing fee to facilitate the loan towards legal and documentation charges.

Interest rates start at as low as 1% per month. However, it may depend on various factors like your loan amount, tenure, eligibility, etc.