Business loans in Delhi

Several banks and NBFCs in Delhi offer business loans that cater to the varying needs of enterprises. For instance, start-up business loans allow entrepreneurs to borrow funds for their working capital requirements and to carry out other business operations. 

Regardless of the type, the following are some of the key features of a business loan in Delhi.

• Collateral-free Loan

Business loans are primarily unsecured, meaning borrowers do not have to pledge any collateral against the credit. Depending on the eligibility, individuals can get a loan worth up to Rs.50 lakh to mitigate their business needs. 

• Repayment

Such loans come with repayment tenure of up to 5 years, making it affordable for all kinds of business owners. The business loan interest rate, however,varies from lender to lender and depends on the borrower’s eligibility. 

Nevertheless, individuals can use a business loan calculator to get an overall idea about the EMIs and other aspects of servicing a business loan. 

• Loan Processing

Since traditional business loans are unsecured, the documentation and verification processes might be time-consuming. Lenders assess individual applications on several points, including a thorough investigation into credit score and history.

Nevertheless, prospective borrowers can opt for an online business loan to cut the hassles of visiting a lender’s office over and over again. 

However, the overall procedure, from application to disbursal of such credit might take 3 – 7 days, depending on the financial institution.

• Interest Rate and Other Charges 

Individuals can apply for different types of credits for businesses in Delhi, such as abusiness loan for women, start-up loans and so on. However, irrespective of the types, the borrowers need to compare the business loan interest rate and other applicable charges to make an informed decision. 

The interest rate generally varies between 9% and 24% for commercial loans. On top of that, people need to pay other charges like processing fee and like ones. 

Prospective borrowers must satisfy strict eligibility criteria before they can apply for an unsecured business loan. Most lenders check the credit score, repayment history, business vintage, turnover, etc. thoroughly to ascertain an applicant’s credibility and how likely they are to repay timely. 

Such a process gets even more complicated when one opts for new business loans without any credit history. 

Following are some of the essential documents that one needs to submit to avail abusiness loan in Delhi. 

• ID proof (PAN card, Aadhaar card, Voter ID, Driving license, etc.)
• Address proof (Ration card, electricity bills, telephone bills, etc.)
• Audited income statements
• Bank account statements of the last 6 months 
• Proof of the ownership of the business 
• IT documents 

Moreover, the document checklist can get extended further in case one is planning to avail government business loans. If individuals cannot fulfil all the prerequisites of availing a business loan, they can still borrow required funds for their business venture by opting for a gold loan from Rupeek. 

People looking for a business loan in Delhi can alternatively opt for Rupeek gold loan and borrow a substantial amount for their business. 

Following are some of the advantages of agold loan from Rupeek.

• Highest per gram value of gold 
• The interest rate starts from as low as 0.79%
• Only a handful of documents required for a gold loan
• Partner with top Indian banks like ICICI Bank, Federal Bank and others.
• Flexible repayment options 
• The pledged gold will be secured in the nearest bank vault. 
• Complimentary insurance of the gold. 

Hence, any business owner with sufficient gold can avail such a loan to mitigate their financial requirements. Prospective borrowers can also use the virtual Rupeek gold loan calculator to check how much amount they can borrow as well as the repayable amount instantly.

Following isa step-by-step process to avail a Rupeekbusiness loan in Delhi against gold:

• Visit the official website of Rupeek and click on “apply now” tab to request a gold loan. 
• A Rupeek representative will contact you shortly.
• The authorised person will come to a place of your convenience and complete the KYC process.
• The loan manager will value the gold and provide you with a pledge card. 
• Immediately, the loan amount will be credited to your account before the loan manager leaves. 
• The loan manager will deposit your gold safely in a bank vault at the nearest lending partner’s branch.
• You will get a confirmation message as soon as the gold is deposited. 

The simple doorstep process makes Rupeek gold loan a great alternative to business loan in Delhi. However, applying for a fresh loan can be time-consuming and counterproductive for businesses frequently in need of immediate cash. Individuals can consider Rupeek’s gold credit line to address such financial concerns.

Rupeek introduces a hassle-free facility called Rupeek Quick that allows borrowers to avail a credit line by pledging gold once. On evaluating the gold, the amount will be credited to your mobile wallet that you can transfer to your bank account any time you want. 

Moreover, you only need to pay the interest on the amount withdrawn or utilised. Thus Rupeek Quick can prove to be a great saviour during a financial emergency in your business.

Here’s a list of the major localities in Delhi where you can avail Rupeek’s doorstep loan services –

• Tilak Marg
• JNU Ring Road
• Chandni Chowk
• Connaught Place
• Justice SB Marg
• Moti Bagh
• Karol Bagh
• Hauz Khas
• Nehru Place
• Maidan Garhi
• Anand Vihar
• Sansad Marg
• Pusa
• Najafgarh

Access to a variety of financing options is essential for businesses to grow in the backdrop of an increasingly competitive Delhi market. With Rupeek’s services available across all prime localities in India, this task becomes convenient beyond measure and searches for business loan near me no longer necessary.