Thane is an important city in Maharashtra and a major industrial hub. It has some of the best infrastructure, a talent pool, easy access to Mumbai and other cities, and vibrant economic activity. Thane is especially attractive for businesses looking to expand or establish operations here due to its strong transportation links and efficient administrative systems. Numerous incentives are also made available by the government, making doing business in Thane even more attractive.
However, as a business owner, it is important to understand the local market conditions and financial climate. If you are looking for funds to cover your business's expenses in Thane, a business loan may be the right choice.
Piramal Finance provides business loans in Thane, so you can access the funds you need to finance your business without any hassle. Our loan products provide competitive interest rates and flexible repayment options so that you have the financial resources necessary to manage and grow your business.
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|
|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 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 must be at least 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.||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.|
|Documents||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.|
Piramal Finance is one of Thane's best-unsecured business loan providers that offer 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.
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 financing usually involves issuing additional shares in return for a cash investment. The investor purchases a stake in your business in exchange for the funds it requires. This implies that the investor will benefit 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 Thane 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.
Thane is an excellent hub for businesses that require a large consumer base and access to financial resources. Thane's booming industrial, commercial, and residential development provides entrepreneurs with lucrative opportunities to grow their businesses. Piramal Finance has branches in the area, so you can easily apply for a business loan in Thane at competitive interest rates and borrow up to 10 Lakhs. You have multiple options available such as Short-term loans, Credit line Asset finance, Equity funding, or loans on accounts receivable when it comes to financing your business, depending on your needs. So, if you're looking to start or expand your business in Thane, getting a Business loan from Piramal Finance could be the best option.
To reduce repayment liability for a business loan in Thane, try the following:
The fact that an unsecured business loan in Thane 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 Thane within 24 hours of its approval. Our quick and instant disbursal makes us the leading choice for business loans in Thane.
Several factors contribute to your eligibility for a business loan in Thane. 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 Thane 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 Thane via Piramal Finance.
Yes, there are charges other than interest rates to pay to avail of the loan in Thane. These are processing charges, prepayment charges, foreclosure charges, and many more, depending on the business loan provider in Thane.
No, you won't need any collateral to apply for an unsecured business loan in Thane. 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 Thane, a business must have a minimum income of INR 2,00,000 per annum.