Surat is one of the most vibrant cities in India and has a booming economy that offers great opportunities for entrepreneurs. It is home to some of the leading industries like textiles, jewelry manufacturing, diamond cutting, engineering, and pharmaceuticals. Surat also presents excellent infrastructure facilities, such as world-class transportation, telecommunications, and commercial services. Moreover, the city has seen tremendous growth in recent years, with an influx of foreign investors looking to set up business here.

However, launching a business in this bustling city can be overwhelming. This is why entrepreneurs should consider applying for a business loan in Surat to help finance their venture and give it the best chance of success.

Piramal Finance is offering highly sought-after Business Loans in Surat - tailored to your needs! Choose from machinery loans, unsecured working capital loans, and capital or term loan options. With a team of experienced professionals at your disposal, you can be sure that rapid growth and successful outcomes are only an opportunity away. Don't miss out on this incredible chance - get started today!

Features and Benefits of Business Loans in Surat

Quick Online Processing

When you apply for a startup business loan in Surat, we comprehend that you need the money as soon as possible. We can provide a small business loan in a matter of days. As a result, you can start or expand your business without worrying about a lack of funds.

Zero Collateral

The collateral-free small business loan in Surat is a key differentiator and a significant advantage of our business financing. Taking advantage of it is quick and less risky because it is an unsecured service. You do not need to mortgage any of your personal or corporate assets to obtain financing.

High Loan Limit

A suitable amount of money is needed to cover business expenses and working capital. Access to money up to Rs. 10 lakhs to cover any expense associated with your business without sacrificing quality is one of the main benefits you receive from our Business Loan.

Long Repayment Tenure

Loan EMIs shouldn’t ever strain your business’s working cash holdings or revenue. This is not a concern with our business loan because you can select an adjustable length of up to 36 months. Based on your company’s cash flow, this enables you to organize your payback in the best possible way.

Eligibility Criteria for Business Loans in Surat

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.

CriteriaSalaried IndividualsSelf-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 till 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 must be at least 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.
You will be considered a self-employed professional if you are a CA, qualified doctor, or architect. If you are a business owner, partner at a partnership firm, company director, or involved in a proprietorship, you will be considered a self-employed non-professional. However, directors of listed companies will be deemed to be salaried applicants.
Ensure you keep two of your documents ready, including KYC documents, income tax returns for the past 2 years, Form 16, salary slips, bank statements for 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.

Interest Rates and Charges

Piramal Finance is one of the best-unsecured business loan providers in Surat, offering business loans with interest rates starting at 17% p.a. for loans up to INR 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.

What is the Objective of Taking a Business Loan?

Short term loan

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.

Equity funding

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.

Credit line

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 finance

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.

Loan on accounts receivable

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.

How to Apply For MSME/Business Loan in Surat?

Here is a step-by-step guide to applying for MSME loans in Surat. With Piramal Finance, you are an inch away from getting your MSME loan.

Step 1:

Go to the Piramal Finance business loan Surat page. Read the features and eligibility criteria, and start the application process.

Step 2:

Click on Apply Now

Step 3:

Fill in the required Personal details such as Name, Contact Number, Birth Year, and Business Loan Amount.

Step 4:

Choose the employment type 'Salaried' OR 'Self-Employed'

Step 5:

Add your monthly income

Step 6:

Select the State and branch (enter the branch by city) and Submit the business loan application form.  

Step 7:

Wait for a call from the official representative to move ahead with the processes.

After completing all the steps, like scanning, uploading the required documents, and paying the processing fees, wait until your business loan application is approved.

In Short

Surat is home to a large number of businesses and offers several benefits for business owners. Piramal Finance provides unsecured business loans for any kind of business in Surat at competitive interest rates with flexible repayment options. It is easy to apply for an MSME/Business loan in Surat with Piramal Finance and get access to funds quickly. With the help of these business loans, businesses can fund their expansion plans or working capital requirements without having to worry about collateral or security.

Nearest Branches of Piramal Finance where you can visit and apply for a Business loan in Surat

Ring Road
The Ring Road branch of Piramal Finance is located at B503 & 504 at the International Commerce Centre. If you want to reach here, the best way is to take a bus from the Surat Ring Road Bus Stop to this branch. Loan applicants can easily apply for a business loan in Ring Road and can expect quick disbursal.
The Adajan branch of Piramal Finance is located at No. 203 & 204, Raj Arcade. The right way to reach the branch is to use NH 8. The area has many bus stops and auto rentals available, making it easy for customers to get there quickly. Also, getting a ebusiness loan in Adajan is the best option, as they offer competitive interest rates, flexible repayment options, and minimal documentation.

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Frequently asked questions

How to reduce repayment liability?
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Is a business loan in Surat risky?
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How long does it take to disburse the business loan in Surat?
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How is my business loan eligibility counted in Surat?
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What are the purposes for which I can get a business loan via Piramal Finance in Surat?
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Why should I avail of a business loan in Surat via Piramal Finance?
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Are there any charges other than the interest rate that I have to pay to avail of the loan in Surat?
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Do I need collateral to apply for a business loan in Surat?
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What is the minimum income requirement to get a business Loan in Surat?
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