Business Loan in Mumbai

Loans help businesses access funds to buy new equipment, hire new staff and enter new markets. They also help businesses manage cash flow and cover short-term expenses, such as payroll or inventory.

Loans are essential for small businesses and startups that might not have access to large amounts of capital. These businesses often rely on loans to establish themselves in highly competitive markets.

Businesses have been thriving for decades in an established financial city like Mumbai. From a business tycoon to a small-scale industry worker, the city provides endless opportunities. But at the same time, the plethora of options in terms of financial borrowing can be a daunting experience for new entrepreneurs or small to medium-sized businesses.

FlexiLoans provides business loans in Mumbai to small and medium-sized businesses in various forms like term loans and overdraft credit. We have a vision of "Loans At A Click".

Benefits Of A Business Loan In Mumbai

Here's what to keep in mind, if you're still unsure about acquiring a business loan in Mumbai.

1. Term loans help with growth and expansion initiatives

A business has a chance to make more money and serve more customers when it grows and expands. But the competition is high in Mumbai. This is why a business must grasp every opportunity before its rivals.

A long-term financing option, like FlexiLoans' term loans, is a reliable financing option to solve this problem. You can repay these loans in EMIs over 2 to 5 years.

2. Meet your working capital needs with credit lines

Your business needs to maintain a healthy working capital to operate efficiently. If not, you run the risk of losing the customers you’ve built a relationship with over the years.

FlexiLoans' line of credit is an effective working capital loan. A line of credit gives your business access to a regular supply of pre-approved credit and lets you focus on building your business.

3. Loans can help lower the cost

Someone investing in your business takes on more risk than someone lending you money. Which means they can demand a high percentage of profits.

On the other hand, the interest payments on business loans do not increase with increases in profits. So, it is a good idea for your business to meet its financing needs using both equity and business loans.

4. Loan repayments are adjustable

Repaying a business loan in Mumbai is a simple process. Loan repayments are adjustable. If you choose to repay through EMIs, you can lower your EMIs by opting for a longer tenure.

You can calculate the EMIs on your business loans using the following formula:

EMI = P x r x (1+r)ⁿ/(1+r)^n-1

Where,

P = Loan amount

n = Number of months in loan tenure

r = Interest rate per month

Looking For A Business Loan In Mumbai?

FlexiLoans understands what you are looking for as a customer. We value your time, and therefore, we ensure that we approve your loan as soon as possible, provided you meet our eligibility criteria.

We are spread over 1000 cities in India, and we have created some of the best and most innovative product solutions for you. Wondering why choose us? Here is why: 

• We make it easier for you! We offer a completely paperless documentation process. All you have to do is fill out your form and submit your documents, and within 48 hours we will approve your loan.

• We can provide you with unsecured business loans. Meaning, you do not need to put up any security to get a business loan.

• There is no hidden fee or extra charge that you have to pay with us. Our loan procedure is transparent.

 Worried about how to get a business loan in Mumbai? Just fill up your form here.

FlexiLoans’ Eligibility Criteria

You will need to meet some basic requirements to secure a business loan in Mumbai.

• You must be between 21 and 65 years of age.

• Your business must be at least one year old and have an annual revenue of at least ₹10 lakhs (for existing enterprises).

• The minimum CIBIL score required is 650.

• Only Indian citizens who have not defaulted on any previous loans can apply.

• The applicant must have a business experience of at least 2 years in the same location and own a shop, home, office, or godown.

Basic Documents Needed For a Business Loan in Mumbai

Here is a list of documents you will need to apply for a business loan in Mumbai.

• PAN card.

• Rent agreement / driving license /voter’s ID/ration card/passport, or Aadhar card as your residential address proof.

• Bank statements of your current account for the last 6 months.

• GST registration certificate/shops & establishment certificate/business PAN card for the business KYC process.

Frequently asked questions