The city of Jalandhar is a global hub for sports equipment manufacturing. Companies export these products to different parts of the country and in the international market as well. Along with this, the industrial portfolio of this city also comprises leather goods, furniture, apparel, etc.
The creation of a special economic zone and necessary administrative reforms has also helped several industries to prosper in this state. It has paved the way for new enterprises to come and establish operations in and around Jalandhar. Keeping sync with this influx of new businesses, the demand for affordable financing options like a business loan in Jalandhar has also increased rapidly.
Since a business loan in Jalandhar does not involve end-use restrictions, individuals can use the borrowed sum for a variety of purposes. Here are some notable ones –
In the event of any liquidity crisis, entrepreneurs can resort to this financial product for assistance. It lets organisations manage their daily expenses without any hassle.
A business loan may also be used for equipment financing. Businesses can meet the cost of purchasing or upgrading their equipment adequately with this financing facility.
Proper inventory management is the key to growth, and companies can achieve that with financial assistance from a business loan.
Enterprises can leverage an unsecured business loan in Jalandhar to invest in their expansion projects.
Apart from these, this financial option allows entrepreneurs to tackle any planned or unplanned expense in their firms.
However, since it is a collateral-free loan, the eligibility requirements here are stringent. Also, the rate of interest applicable here is comparatively higher, and the entire process of approval and disbursal of funds is time-consuming due to extensive documentation.
A gold-backed business loan is an excellent alternative to its traditional counterpart. Individuals can pledge their gold articles and avail funds against their value to support their business. Some of its prominent features are –
Availing a small business loan in Jalandhar against gold is straightforward. However, it is vital to opt for a lender with convenient borrowing terms to ensure a hassle-free experience. In this regard, individuals can consider Rupeek.
Here are some notable features of Rupeek that make us stands out from the competition –
Individuals can avail an online business loan in Jalandhar from the comfort of their home with Rupeek. A company executive will visit the applicant’s house or office to evaluate the gold jewellery and complete the KYC verification process after successful online application. Upon a satisfactory evaluation and verification, the borrower will receive the funds almost instantly.
Business loan interest rates levied by Rupeek are one of the lowest in Jalandhar, starting at only 0.79% per month. Hence, businesses can finance their operations affordably with a gold-backed small business loan in Jalandhar with Rupeek.
Loan to Value ratio indicates the amount one can avail against the value of this/her pledged gold articles. Rupeek offers an 80% LTV, thus, allowing individuals to take out a hefty loan quantum.
Rupeek Quick, our overdraft loan facility, allows businesspersons to streamline their cash flow efficiently. Individuals can withdraw any sum from the sanctioned limit at any time to promptly address emergency obligations. Moreover, the interest burden also comes down because it’s calculated only on the withdrawn amount.
Availing our loan balance transfer facility allows individuals to save on their repayment substantially. The process is straightforward, and borrowers can save up to Rs.12,377 per lakh on interest payable.
What’s more, we offer our services across all the major localities in Jalandhar, ensuring individuals don’t have to go far when searching for “business loan providers near me”.
We offer our services in and around the following locations –
The availability of affordable business loan in Jalandhar has played a significant role in transforming this city’s economy. Rupeek has further simplified this financing facility with industry-first features like doorstep service, flexible repayment options, etc. Now, business owners can utilise the equity of their gold jewellery to avail an easy business loan within minutes.
You can avail up to Rs.1.5 crore from Rupeek based on the purity of your jewellery.
One need to submit KYC documents to avail funds from Rupeek. However, one must be above 18 years old to be eligible.
No, our lending partners currently do not accept gold coins or bars as legitimate collateral. You can only pledge gold jewellery to secure a loan for business in Jalandhar.
Your request has been received, our customer relationship manager has been notified and will call you shortly