Loan for Furniture Business

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As per the recent prediction by TechSci Research, “Forecasts and Opportunities for the Indian Furniture Market, 2019,” the country’s market for furniture’s is expected to grow by $ 32 billion in 2019. India’s market for furniture’s is predicted to develop at a record pace. This is due to the rapid pace of disposable income growth, development of the middle-income group and increasing city families. Also, the expected increase in the sightseeing and hotel industries should boost demand for furniture in India by 2019. The south region and west region of the country will carry on to be the main sources of expansion of the furniture manufacturers and distribution in these regions. The states of UP, Punjab, Kerala, AP and West Bengal are the major providers of wood, the required raw material for the country’s furniture market.

The growth of the market for furniture’s is increasing due to the growing domestic demand and the variety of exclusive proposes. The demand for the furniture industry is rapidly increasing and should be continuing by 2020 with an annual growth rate of 4%. It is expected that by 2020, low-income customers will be most of the city’s population the rapidly rising segment of the home marketplace.

Mentioned Below is 2 types of furniture business:

  1. Furniture manufacturer.
  2. Sale of furniture/trading online in the internet


The right account of assets is essential for the victory of a furniture shop. However, finding the right inventory of furniture that meets the requirements of customers and avoiding excessive maintenance and storage costs can be difficult. It is also necessary to reduce the danger of aging.

Furniture is usually more expensive than the goods presented by other sellers. This means that you may perhaps require more money to put in the inventory. In the meantime, the trends, preference and seasonal aspects are continually varying, so you probably require making inventory expenditures accordingly.

The market experts say that self-governing furniture shops are more likely to succeed in selling better-quality furniture, as a lot of the bigger vendors offer cheaper options. For a small business, though there is a lot of competition and it is not possible to give high discounts as the large sellers. However, by being very unique and producing high-quality products you can win the game from your competitors. 

Another option is to go with the wholesalers and work with them for the sale of your furniture’s to sell. However, we suggest that you need to venture out on your own and sell individually so that you can make your own brand and know your market capabilities also beat your competitors. 

We at FlexiLoans offer the best loans for the furniture business and we know exactly why you have to maintain a lot of unique and selling furniture at your shops. We provide loans for your inventory and if you are qualified, you can avail our loans in 2 business days. 

The cost required for building a furniture shop of your own:

Our rough estimate is that you need 15 to 25 lakhs for the following things:

  • You may need to hire a consultant for organizing your businesses.
  • You may have to obtain the shop license and permits from the governments.
  • For renting or owning a shop
  • For purchase of hardware
  • Other items such as finished products, inventory of furniture and raw materials such as glass, wood, etc, if necessary.
  • Cost for advertising and marketing
  • Staff expenses such as salaries and other incentives
  • Overhead expenses such as electricity, water, etc.
  • Website cost.

To do the furniture sale Online 

You may need 40 to 50 lakhs for the storage area and the website maintenance cost and the supplying logistics.

  • Domain name registration
  • Storage area for the furniture
  • Office space for the staff 
  • Advertising and marketing cost
  • Unique and Quality management of the products.
  • Staff salaries and incentives

Criteria for the eligibility of the loans

After you understand the above features you are ready for the business loans. Now, we would like to tell you that you need to understand the criteria of the basic loan from the private or government lending firms are as follows as per the government rules:

  • You must be between 21 to 65 years of age.
  • Your business must be generating at least 2 Lac per year
  • You must have completed the break-even stage and made a profit at least the previous year 

There are certain mandatory documents you require for acquiring the loans they are as follows: 

  • The government authorized Identity Proof
  • The government provided Address proof
  • PAN Card
  • 6 months of Bank account statement.
  • Tax returns filed and approved for the last 2 years
  • Balance sheet containing assets and Liability information, if available
  • Statements of Cashflow
  • Photographs
  • Shop license and permits for furniture business

Business loans charges and EMI criteria 

We calculate the EMI on a case to case basis and the process is simple and the pre-processing charges are nominal and both EMI and charges depend on the following parameters.

  • CIBIL Credit score
  • Assets Vs Liability
  • Cash Flow statements
  • Working capital of your business
  • Amount and duration required for repayment of  the loans
  • Inventory ratio and Balance sheet
  • Pre-closure criteria
  • Commitment and prepayment rate.

At FlexiLoans we offer the following best features and you can rely on us

  • We are operating in more than 100 cities in India and you can choose the closest city from your area for funding.
  • You are confident that our process for the loan is very easy and without much paperwork. The only thing which you need to do is fill the online application provided by us and the required documents are to be uploaded.
  • There is no need for waiting for more than 48 hours for knowing about your loan application status.
  • Security is not asked by us and we do not deviate from legal norms. You can feel glad to approach us.
  • It is easy for you to understand and know about the interest amount with our EMI calculator. Do not get tensed about the interest you need to pay it is simple and easy.
  • Think about the business you are going to start and tell to us we will support you with a maximum loan of 1 crore for the business.

Do not worry we are there to help you financially. We are customer friendly and help you in each and every procedure to gain your business loan, the only thing you need to do is to understand the features accordingly.