BUSINESS LOAN FOR ELECTRICAL PARTS AND EQUIPMENT BUSINESS

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Electrical Parts and Equipment Business

For some having their own business is still a dream but not anymore with our Business loan for electrical shops. You can open your dream business in no time and start making money out of it. Now you must be thinking, how can a company give you a business loan when your business hasn’t been established yet? Don’t worry, and we are going to help you showcase all the benefits you will get when you apply for the business loan from FlexiLoans. When you take a loan from FlexiLoans, you don’t have to worry about any hidden charges.

Term Loan For Electrical Shop

FlexiLoans is the right place for you to ask for a term loan for electrical shop. See often, and we categorize loans on the basics of what their amount will be used for. For example, when someone is opting for a car loan, they will pay for the car they have brought from that money. In the same way, term loans fund everyday business such as an electrical shop, drug store, and departmental store. All of these businesses can be given funding through a term loan if they running for at least 1 year. 

Why Should You Opt For Business Loan From FlexiLoans? 

Now let us tell you some of the benefits you get when you take a business loan from FlexiLoans. See, just from the name, you can see we are flexible with our customers, and our working is entirely transparent for you to see. Even if you are running your own business and want to extend its branch in another city, we are here to help you achieve your goal. You being able to get your business up and running in the shortest amount of time is our greatest achievement, and we do everything in our power to make it happen. 

FlexiLoans makes it easier for people to avail of loans. The whole application will be assisted by one of our customer representatives, so you don’t have to worry about filing any wrong information and redo the entire application.

You can connect with our relationship manager anytime you want. They are always present to help you and give an answer to your queries. 

All your documents will be verified from our side so once you are done with your application you will get the loan amount as fast as possible.


Basic Eligibility Criteria

Minimum Business Vintage 1 year
Monthly Business Sales Minimum 2,00,000

Documents Required for Electrical Parts and Equipment Business

Personal KYC PAN card
Residential Address Proof (Any One) Rent Agreement | Driving License | Voter's ID | Ration Card | Passport | Aadhar Card
Banking Last 6 months current account bank statements
Business KYC (Any One) GST Registration Certificate | Shops & Establishment Certificate | Business PAN Card

Frequently asked questions

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

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.

What documents are required to apply for a loan?

KYC document

  • - Pan card

Proof of residential address (any one)

  • - Rent Agreement
  • - Driving License
  • - Voter's ID
  • - Ration Card
  • - Passport

Banking

  • - Last 6 months of bank statement of current account

Business KYC (any one)

  • - GST Registration Certificate
  • - Shop Establishment Certificate

Financial documents (For loans greater than 20 Lakhs)

  • - 2 years Audited financials
  • - Last 2yrs ITR
  • - GST Returns of 6 months

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

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

How much business loan can i get in India?

You can get an unsecured business loan upto ₹1 crore at FlexiLoans.

What security do I need to provide to avail a Business loan for Electrical Shop?

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

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.