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Business loans in Kochi

Located on India’s south-western coast, Kochi is a major port city. Referred to as the ‘Queen of the Arabian Sea’, the city was the centre of the spice trade for many centuries. The easy availability of electricity, a long coastline, harbour terminal and international terminal has hastened the industrial growth of this city. Moreover, sectors like construction, manufacturing, transportation, shipbuilding, spices exports, tourism, Information Technology, chemical industries, health services, banking has earned Kochi the badge of the financial and commercial capital of Kerala. 

With such a rich opportunity in various commercial and business sectors, entrepreneurs or business owners looking to start a new enterprise or expand in Kochi can opt for a business loan.

Purpose of a Business Loan

Since a business loan does not entail any spending restraint, a borrower can use it for a range of business expenses, including –

  • To expand operations
  • To buy inventory
  • To purchase equipment
  • To maintain working capital
  • To improve credit history
  • To pay salaries to employees
  • To revamp the working area
  • To buy infrastructure

Business Loan Eligibility in Kochi

Before applying for a business loan in Kochi, individuals must meet the specified standards set by banks or NBFCs. The basic parameters include:

  • Turnover of the business
  • The cash flow of the enterprise
  • The vintage of the business
  • Credit Score of 750 or above

Apart from fulfilling the specified criteria, borrowers need to furnish several documents. The list includes ITR proof, bank statements of the past few months, audited balance sheet and income statements, registration papers, board resolution, etc.

Due to the stringent eligibility criteria and extensive documentation, availing a traditional business loan can become troublesome and time-consuming. Also, entrepreneurs often fall short of the required CIBIL Score for an unsecured business loan in Kochi.

In cases like this, a gold-backed business loan can act as an excellent alternative to traditional business financing options because of its hassle-free procedure and business-friendly advantages.

Gold-backed Business Loan in Kochi

As a non-consumable asset, gold can come to a businessperson’s aid during a liquidity crisis. Moreover, as the gold loan is secured, lenders do not assume much high a risk. Resultantly, borrowers enjoy several benefits by availing a gold loan for business in Kochi.

A comparative study of the gold loan and business loan will further clarify the benefits associated with them and also help to highlight the importance of the latter.

Particulars

Business loan

Gold loan

Loan type

Unsecured

Secured

Eligibility criteria

Stringent

Relaxed

Documentation

KYC and other business-related documents, including bank statements etc.

Only KYC

Interest rate

Higher

Lower

Processing time

2-7 days

Quick, within 24 hours

CIBIL Score

750 or above

Not required

Once borrowers have decided to take a gold loan for business, the next crucial job includes choosing the right and reliable financial institution. In this regard, businesspersons can turn to us at Rupeek.

Benefits of a Gold-backed Business Loan in Kochi from Rupeek

Borrowers can obtain the following benefits with a gold-backed business loan from Rupeek:

  • Doorstep Service: One of the significant benefits of our financial services at Rupeek includes doorstep gold loan. From the comfort of their home, borrowers can get the entire process done and thus, avoid the risk of taking their valuables out of their houses.
  • Quick Disbursal: Our entire gold-backed business loan processing takes only 45-60 minutes, which is much faster compared to a traditional business loan. This fast processing help borrowers to meet emergency cash requirements without any delay.
  • Hassle-free Documentation: While sanctioning a gold loan for business, we only require a few necessary documents. It enables borrowers to get instant approval of a gold loan without going through the rigorous paperwork.
  • Lower interest rate: Compared to unsecured business loans, the interest rates of gold-backed business loans is much lower. With Rupeek, borrowers can enjoy interest rates starting at 0.79% per month. The lower interest rate enables borrowers to manage repayment comfortably.
  • Loan to Value Ratio: Loan to Value ratio or simply LTV refers to the amount borrowers get against the pledged gold’s value. Our financial services offer LTV up to 80%. Borrowers can also check the gold loan calculator to get a clear idea regarding the amount they will be getting against their gold deposits.
  • Flexible Repayment: Our flexible repayment process makes availing a gold-backed business loan in Kochi much easier. Borrowers can pay the outstanding amount on a monthly basis, any time within the tenure, or in a single bullet payment at the end of the tenure.

Besides these benefits, individuals can also choose to utilise our credit line facility against gold to secure an instant source of funds for their cash flow requirements.

Gold Credit Line offered by Rupeek

During urgent or frequent cash requirements, borrowers can get immense benefit from this overdraft facility of ours, Rupeek Quick. Through this credit line, businesspersons in Kochi can withdraw funds anytime from anywhere to mitigate their business’s monetary obligations. Furthermore, this feature allows borrowers to pay interest only on the used amount, not on the entire sanctioned limit.

One can avail our services in a matter of 30 minutes from anywhere in Kochi, thanks to our presence across all the major localities. With us, borrowers no longer need to search for “business loan providers near me”.

Top Localities in Kochi where Rupeek Operates

We offer our services in and around:

  • Aluva
  • Willingdon island
  • Kakkanad
  • Airport Road
  • Kumbalangi
  • Muvattupuzha
  • Tripunithura
  • Infoparkkochi
  • Kalamassery
  • Perumbavoor
  • Mattancherry
  • Palarivattom

The economy of Kochi has gained considerable strength from the large-scale investments in both the industrial and business sectors in recent years, making it one of the fastest-growing second-tier metro cities in India. Therefore, businesspersons willing to expand their business or starting a new one can opt for a gold-backed business loan in Kochi from Rupeek to keep up with the competition.

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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 are the eligibility criteria of a gold-backed business loan?

Anyone above 18 with sufficient gold ornaments can apply for a gold-backed business loan with Rupeek.

  1. What documents do I need to avail a business loan against gold?

You need to submit OVDs for KYC, like Aadhaar card and PAN card as your ID proof. Also, submit utility bills or rental agreement for proof of address.

  1. What payment methods do Rupeek offer for a gold-backed business loan?

Rupeek offers various repayments methods. By using Rupeek website or Android App, individuals can pay through internet banking, debit cards, UPI, money transfer using RTGS, IMPS, etc.

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