Whether you are looking to start a business in the manufacturing sector, IT & software, retail or hospitality industry - Nashik has something for everyone. It has great access to skilled labor, as well as an accessible market, well-connected transport links, and plenty of resources and incentives available from the government. Businesses can even benefit from tax rebates and other benefits offered by the government.
But when it comes to starting your business in Nashik, you may find that the funds you need are not readily available or affordable. This is where a business loan can come into play. With a business loan, you can access the funds needed to start and grow your venture in Nashik without worrying about high-interest rates or long processing times.
Piramal Finance offers a range of business loans designed to suit the individual needs of entrepreneurs and small businesses. We provide customized loan products with competitive rates and flexible repayment options to help you get your business off the ground in Nashik. Our easy online application process ensures that you can apply for a business loan without any hassle or paperwork, and our dedicated team will assist you throughout the entire process.
While applying for a business loan, there are a few required eligibility criteria that you must meet. The eligibility criteria vary for salaried and self-employed individuals.
|Criteria||Salaried Individuals||Self-Employed 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.||As a self-employed individual, you have to be a minimum of 23 and a maximum of 70 years of age.|
|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.||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.|
|Documents||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 Nashik and offers business loans with interest rates starting at 17% 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 Nashik 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.
With Piramal Finance offering easy access to unsecured business loans, entrepreneurs are now more equipped than ever before to take their businesses to the next level. With a high loan limit and long repayment tenure, you can get your business moving right away! So, what are you waiting for? Get started on your entrepreneurial journey today!
To reduce repayment liability for a business loan in Nashik, try the following:
The fact that an unsecured business loan in Nashik 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 Nashik within 24 hours of its approval. Our quick and instant disbursal makes us the leading choice for business loans in Nashik.
Several factors contribute to your eligibility for a business loan in Nashik. 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 Nashik 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 Nashik via Piramal Finance.
Yes, there are charges other than interest rates to pay to avail of the loan in Nashik. These are processing charges, prepayment charges, foreclosure charges, and many more, depending on the business loan provider in Nashik.
No, you won't need any collateral to apply for an unsecured business loan in Nashik. 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 Nashik, a business must have a minimum income of INR 2,00,000 per annum.