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Business Loan in Delhi

Taking your new business to the next phase can be exciting. Expanding or scaling your business in a hub of emerging technology and businesses such as Delhi can be advantageous. When it comes to scaling a business, there can be plenty of processes such as hiring more talent, finding bigger office spaces, expanding the board, and many more. Meanwhile, it is also important to identify the capital requirements to scale your business. Business loans can help you meet your business costs such as expansion costs, operations costs, inventory costs, and many more.

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Features and Benefits

With a business loan in Delhi, you can experience plenty of features and benefits.

  1. Quick Approval
  2. Your loan application will be considered for quick approvals by Piramal Finance. This way, you can save time and avoid any hassle thereby ensuring a smooth process aligned with speedy sanctions.

  3. Higher Loan Amount
  4. While applying for a business loan, you can opt for one with a higher loan amount up to Rs. 25 Lakhs. The extensive assessment process can help improve both your eligibility and increase the loan amount that you can apply for.

  5. Attractive Interest Rates
  6. For all salaried and self-employed individuals, the interest rate offered on business loans starts at 12.5% per annum.

  7. Online Application
  8. You can now apply for a business loan from the comfort of your home. You don’t have to visit the physical branch of the bank to get the process started.

  9. Wide Range of Collaterals
  10. Funding on business loans is provided across a wide range of collateral. You can submit different types of properties as collateral for your business loan in Delhi. Such flexibility simplifies your loan application process.

Eligibility Criteria

While applying for a business loan, there are a few required eligibility criteria that you have to meet. The eligibility criteria vary for salaried and self-employed individuals.

  1. Salaried Individuals
  • Age
  • If you are a salaried individual, you should be at least 21 years of age to apply for a business loan. As a government employee, you can apply for a business loan till you are 70 years old. You can only apply till 62 years of age if you work at a private company.

  • Employment
  • To meet the eligibility criteria, you will have to work at a government institution, a public sector undertaking company, partnership firms such as an LLC, public companies such as private limited companies or limited companies, proprietorship concerns such as an individual proprietorship or HUF, MNC, and institutions run by NGOs, societies, and trusts.

  • Documents
  • Make sure you keep your documents ready including KYC documents, income tax returns for the past 2 years, Form 16, salary slips, bank statements of the last 6 months, and documentation related to your collateral property.

  1. Self-Employed Individuals
  • Age
  • As a self-employed individual, you have to be a minimum of 23 and a maximum of 70 years of age.

  • Employment
  • If you are a CA, qualified doctor, or architect, you will be considered a self-employed professional. If you are a business owner, partner at a partnership firm, director of a company, or involved in a proprietorship, you will be considered a self-employed non-professional. However, directors of listed companies will be considered to be salaried applicants.

  • Documents
  • You have to submit your Form 16, KYC documents, bank statement for the past 6 months, ITR for the past 2 years with computation, CA audited financials, and documents for your collateral.

How to Apply?

With Piramal Finance, you have the advantage of “Quick Apply”. This initial part of the application process helps you speed up the entire journey of availing of a business loan. You will only have to complete these 2 steps to apply.

Step 1: Navigate to the website and fill in your personal information such as your first name, last name, contact number, email address, loan amount, and current location.

Step 2: Once you have filled in all of these details, click on Submit.

Final Thoughts

Business loans can help cover several costs of your business and help you stay operational and ahead of your competitors. If you are looking to apply for a business loan, Piramal Finance can be beneficial. You can experience several benefits such as higher loan amounts, quick approval, and attractive interest rates.

Get Quick Approvals for Business Loan in Metro Cities

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