Hyderabad is an expanding economic centre in India and offers several benefits for individuals wishing to launch a business. It is simple to go there from anywhere in the nation because to its close proximity to important IT hubs like Bengaluru, Chennai, and Mumbai. With convenient transportation options, up-to-date office premises, and other necessary services, the city also provides outstanding infrastructure support.
However, starting a business in Hyderabad also requires capital. Many entrepreneurs have difficulty getting access to the financial resources needed to start or expand their operations. A business loan in Hyderabad can help you overcome this obstacle and give your venture the boost it needs to get off the ground.
Ready to take your small business to the next level? Piramal Finance is here to help with our trusted Business Loans in Hyderabad! Our comprehensive solutions are tailored precisely for you, including machinery loans, unsecured working capital loans, and capital and term loan options. With our experienced team by your side, we'll arm you with all of the tools needed for speedy growth and success - so don't miss out on this opportunity today!
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.
|Criteria||Salaried Individuals||Self-Employed Individuals|
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 utill you are 70 years old. You can only apply till 62 years of age if you work for a private company.
As a self-employed individual, you have to be a minimum of 23 and a maximum of 70 years of age.
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.
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 deemed as salaried applicants.
Make sure you keep two of your documents ready, including KYC documents, income tax returns for the past 2 years, Form 16, salary slips, bank statements of the last six months, and documentation related to your collateral property.
You have to submit your Form 16, KYC documents, bank statement for the past six months, ITR for the past two years with computation, CA audited financials, and documents for your collateral.
Piramal Finance is one of the best-unsecured business loan providers in Hyderabad that offer business loans with interest rates starting at 12.99*% p.a. for loans up to Rs. 10 Lakh that can be repaid over a maximum of 60 months. The borrowers are not obliged to provide any security or collateral for the unsecured business loans made available by the financial institutions.
A term loan has a predetermined repayment schedule that must be followed. The term 'short-term loans' refers to term loans with a tenure of fewer than 12 months.
In most cases, equity financing involves issuing additional shares in return for a cash investment. The investor purchases a stake in your business in exchange for the funds your business requires. This implies that the investor will gain from your company’s success.
A line of credit (LOC) is a predetermined borrowing amount that may be accessed whenever necessary. Until the cap is reached, the borrower can withdraw money as needed. When a credit line opens, money can be borrowed more as it is repaid.
Asset financing is the practice of borrowing money or receiving a loan using assets listed on a balance sheet, such as inventory, trade receivables, and short-term investments. Piramal Finance necessitates a security lien on the assets, which the firm borrowing the money must deliver.
With the help of accounts receivable financing, businesses can get paid early for their unpaid invoices. When using accounts receivable finance, a business agrees to prepay part or all of its outstanding invoices in exchange for a fee from the funder.
Go to the Piramal Finance business loan Hyderabad page. Read the features and eligibility criteria, and start the application process.
Click on Apply Now
Fill in the required Personal details such as Name, Contact Number, Birth Year, and Business Loan Amount.
Choose the employment type 'Salaried' OR 'Self-Employed'
Add your monthly income
Select the State and branch (enter the branch by city) and Submit the business loan application form.
Wait for a call from the official representative to move ahead with the processes.
Hyderabad is one of the most attractive business destinations in India due to its steady economy, easy access to capital, and the presence of a large pool of talent. With Piramal Finance’s business loan facility in Hyderabad, local businesses can secure quick and affordable financing with minimal paperwork or hassle. With flexible repayment terms and competitive interest rates of up to 12.99% p.a., entrepreneurs can make their dreams a reality!
To reduce repayment liability for a business loan in Hyderabad, try the following:
The fact that an unsecured business loan in Hyderabad involves no collateral means there’s a risk for both the loan provider and the borrower. The loan provider will charge higher interest rates to cover up the risk. Since you have no collateral, failure to repay can put your business at great reputational risk and financial loss.
We at Piramal Finance disburse the small business loan in Hyderabad within 24 hours of its approval. Our quick and instant disbursal makes us the leading choice for business loans in Hyderabad.
Several factors contribute to your eligibility for a business loan in Hyderabad. These factors or parameters include your credit utilization ratio, bank balance, tax payment record, CIBIL score, and more.
You can get a business loan in Hyderabad via Piramal Finance for various purposes, such as:
From attractive interest rates and flexible tenure to no collateral requirement and quick disbursal, there are many reasons why you should opt for a business loan in Hyderabad via Piramal Finance.
Yes, there are charges other than interest rates to pay to avail of the loan in Hyderabad. These are processing charges, prepayment charges, foreclosure charges, and many more, depending on the business loan provider in Hyderabad.
No, you won't need any collateral to apply for an unsecured business loan in Hyderabad. All you have to do is fill out the business loan application online, submit the required documents, and wait for approval.
To get a business loan in Hyderabad, a business must have a minimum income of INR 2,00,000 per annum.