Business loan
Unsecured Business Loan in Ahmedabad
Business Loans are Loans that don’t require collateral or security. Unsecured loans are what they are also known as, and they are given to self-employed people and businesses. Moratorium Financial Services provides both Business Loan in Ahmedabad and Unsecured Business Loan in Ahmedabad.
Business Loans can be used for a variety of purposes, including debt consolidation, buying long-term assets, expanding a new or existing business, and covering working capital needs. It is an unsecured loan given to a self-employed person or business.
In general, a business loan can be obtained for up to three years. However, depending on the customer’s business characteristics, documentation, and CIBIL scores, some banks and NBFCs may permit an extension of the term beyond the standard 4 years.
Business Loan in Ahmedabad
Due to the risk inherent for the lending company, because business loans are unsecured, they typically base their ROI and PF calculations on the customer’s entire business profiles. The factor that the lending company, such as a bank or NBFC, takes into account is the customer’s CIBIL score, business profile, current company constitution (a partnership, LLP, limited liability company, or sole proprietorship), well-audited financials, etc.
Feature & Benefits of Business Loan
- No collateral or security is needed.
- Fast Processing & Disbursement.
- Consolidating debt through CC payments or other loan payments reduces greater EMI load each month.
- Lower rate of interest (ROI) than friends, family, or other money lenders.
- Dropline Overdraft Facility: Only pay interest on amounts actually used.
Criteria for Business Loan
- Self-employed people, business owners, private limited companies, and partnership firms engaged in the manufacturing, trading, or service industries.
- Those who have been working in the current industry for at least three years.
- Person must be older than 23 and have a good CIBIL score of 700 or higher.
- A person must not have missed or delayed payments on any EMIs in the previous 12 months.
- The tenure varies from one to three years.
- Loans up to 1 Cr are available without the need for collateral.
Documents Require for Business Loan
- Individual KYC – ID Verification (PAN Card) & Address Verification (Aadhaar Card/DL/Voter ID/Passport)
- Business KYC - ID Verification- Pan Card in the Firm's Name & Address Verification - Light bill bearing the company's name.
- Business KYC- In the name of the firm or corporation (GST Certificate, MSME Certificate, Gumastadhara) and address proof are required for business registration.
- Banking for Businesses: Last 12 months' worth of bank statements for each account (current account, savings account, CC/OD).
- Business Financials: Most recent ITR, as well as income calculations, balance sheets, and profit and loss accounts for the last two years, following CA certification or audit.
- Most recent ITR, as well as income calculations, balance sheets, and profit and loss accounts for the last two years, following CA certification or audit.
Fees & Charges for Business Loan
| Loan Amount | Rs. 1 lac to Rs. 1 Cr |
|---|---|
| Tenure | 1 Year to 3 Years |
| ROI | 14 % to 22% |
| Processing Fees | 0.50%-3% + GST |
| Foreclosure Charges | Nil or 4% + GST |
| Part Payment Charges | Nil or 2% + GST |
How Will Moratorium Financial Services Help You?
As a financial service provider, for Business Loan in Ahmedabad and Unsecured Business Loan in Ahmedabad we can assist clients in obtaining both kind of Loans in Ahmedabad along with personal loans in Ahmedabad from a variety of banks and NBFCs because we have connections to all of these institutions and strong working relationships with them. Across all locations, we are able to deliver quicker procedures and seamless services right to the client’s door, (Pan India).
We are able to give service in accordance with the needs and requirements of the customer because of our team’s extensive expertise and knowledge. We will make bank or NBFC recommendations to clients based on their profiles and financial qualifications, and we assist clients in obtaining the best deal from banks. Our motto is “Not to lend but to help,” and we use that to address our clients’ financial issues.