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Kadapa

Business loans in Kadapa

Situated in Andhra Pradesh’s south-central region, Kadapa is the headquarters of YSR Kadapa District. The city is bordered by Palkonda and Nallamala hills on three sides.

Kadapa’s economy primarily relies on agriculture and mining. However, the tourism industry has grown exceptionally and contributed to the economic development of this city over recent years.

The rise of tourism and hospitality industry has increased the number of small and medium scale businesses in this region as well. Resultantly, the demand for different types of business loans in Kadapa has grown incredibly in recent years.

Types of Business Loans

Here are some of the types of business loans in Kadapa that enterprises can avail –

  1. Working Capital Loan

As the name suggests, this loan type helps entrepreneurs to meet any shortfall in their working capital. With its help, business owners can fund their day-to-day expenses hassle-freely.

  1. Invoice Financing

Organisations can raise funds against their unpaid invoices through this financing facility. It’s an excellent device for mitigating an enterprise’s cash flow issues.

  1. Inventory Financing

Financial institutions extend this financing facility for purchasing of stocks. It’s usually provided against the value of inventory.

  1. Equipment Financing Loan

This loan allows borrowers to fund any upcoming equipment purchase. Several business loan providers in Kadapa offer this facility. Also, borrowers can go through a quick guide on business equipment financing to know more details concerning this.

Besides these, businesses can also take out term loans if they are looking for a higher sum. However, these loans are collateral-free. Resultantly, the rates of interest are high, and individuals need to meet rigid eligibility requirements. Moreover, the document verification and loan amount disbursal process take considerable time.

So, is there any substitute?

Yes, business owners can bypass this complication with a gold-backed business loan in Kadapa. Here is a comparative analysis between these two financial products for a better understanding –

Sl. No.

Point of difference

Business Loans

Gold Loans

1

Loan Type

Unsecured

Secured

2

Credit score

Required, 750+

Not required

3

Loan Amount

According to the eligibility

Depend on the purity and weight of the ornaments pledged and the prevailing gold rate

4

Eligibility

Stringent and specific, but varies across lenders

Any individual with gold jewellery

5

Documentation

KYC, business documents, income proof, etc.

Only KYC documents

6

Rate of interest

Higher

Lower

8

Cost of borrowing

Significant

Minimal

9

Application to disbursal process

Lengthy takes 3 – 7 working days

Quick, within 24 hours

The conveniences of a gold loan further enhance if one opts for the right lender when searching for “business loan lenders near me”. In this respect, Rupeek stands out with its industry-first, customer-oriented features.

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Top 4 Reasons to Select Rupeek

Here are some prominent reasons why Rupeek should be an entrepreneur’s first choice for funds.

  1. High Security

Rupeek offers state-of-the-art security for the pledged gold jewellery. The company executive will carry the items in a GPS-enabled bag and store it in a high-security vault within a radius of 5 km. Additionally, these gold ornaments have insurance coverage during the tenure.

  1. Lowest Rate of Interest

Rupeek offers one of the lowest rates of interest on gold loans for business. It begins at 0.79% per month. It makes the interest repayment affordable, ensuring borrowers can quickly repay their dues.

  1. Rebate on Repayment

At Rupeek, we offer a rebate on loan repayment. Individuals can avail of this benefit with regular repayments. Moreover, borrowers can secure a higher rebate with more frequent repayments.

  1. Credit Line Facility

Applying for a new business loan in Kadapa isn’t always a convenient recourse during emergencies. With Rupeek Quick, borrowers can circumvent this issue. It’s a credit line facility that individuals can secure against the value of their pledged gold items and withdraw funds anytime from anywhere. Moreover, they only need to pay interest on the utilised amount.

  1. High-Value Loan

Rupeek offers the highest per gram rate. Borrowers can take out a loan ranging up to Rs.1.5 crore, allowing them to meet their business expenses adequately.

What makes our service even more convenient for business owners in Kadapa is our strong presence across the city.

Localities of Kadapa where Rupeek Offers its Services

Borrowers from in and around the following localities can enjoy our business loan offers in Kadapa

  • Ganganapalli
  • Badvel
  • Porumamilla
  • Rajampet
  • Rayachoti
  • Vontimitta
  • Cuddapah
  • Galiveedu
  • Nandalur
  • Rayavaram

McKinsey and Company have listed Kadapa as one of the emerging economic hotspots of India. The rise of businesses in this region in the last couple of decades has been exceptional, and the Andhra Pradesh government’s efforts to promote this region as a tourism centre is showing its results. Resultantly, the demand for a business loan in Kadapa has also recorded a steep rise. Especially, lenders like Rupeek with its wide range of schemes has massively helped entrepreneurs to find the financial support they need to succeed.

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Business Gold Loan Calculator

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We offer the highest per gram rate on our gold loans.

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Frequently asked questions

  1. What is the process of repaying business loan against gold from Rupeek?

You can quickly repay a loan via Rupeek’s online gold loan repayment portal. Log in with an OTP to check your profile and make payments.

  1. Can I transfer my existing gold loan for business to Rupeek?

Yes, you can transfer your existing gold-backed business loan to Rupeek. With this transfer, you can save up to Rs.12,377 per lakh on repayment.

  1. What are the documents required to avail a gold loan for business from Rupeek?

You only need KYC documents to avail funds against gold ornaments from Rupeek.

  1. Can I avail a gold loan for business with a bad credit score?

Yes, you can avail a gold loan for business with an unsatisfactory credit score.

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