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Business loans in Kolkata

Kolkata is the capital of West Bengal and often touted as the cultural capital of India. Several institutions stand testimony to the pedigree of culture in the city, including Victoria Memorial, Academy of Fine Arts, Indian Museum, and Nandan. Starting from the British era, Kolkata has been a hotbed of opportunities for trade, textile, artistry, and food industry, among others.

It is also the largest economic hub in the East and Northeast India. Several IT companies and start-ups have also mushroomed in the city over the recent years owing to government assistance and availability of easy financing options like a business loan.

An individual planning to start or expand their business in regions like Dharmatala, Sector V, Garia, Sealdah, and the likes can consider securing a commercial loan to consolidate their position amid the competition.

Benefits to Expect when opting for a Business Loan in Kolkata

Since a business loan does not entail any use-case restriction, borrowers can use it in the following ways –

  1. Supplement working capital
  2. Purchase or upgrade machinery
  3. Undertake expansion projects
  4. Meet seasonal demands
  5. Pay timely to suppliers

Most financial institutions in Kolkata, however, offer unsecured business loans. Although one can avail such a loan without collateral, the eligibility requirements for the same are strict.

Businesses need to possess vintage of at least 2 – 3 years in profit, clock an annual turnover of minimum Rs.25 lakhs, and the applicant must also boast of a 750 or above credit score. They must also submit a bevy of audited-financial statements, company papers, alongside KYC documents to apply for a bank loan for business in Kolkata.

Moreover, the recent trends of payment delinquencies and NPAs have prompted lenders to be warier in sanctioning such loans, which often lead either to rejection of an application or exorbitant interest rates.

It’s even more challenging for small businesses and start-ups to acquire funding from banks and NBFCs in the traditional way. Luckily, there are alternatives businesspersons can turn to, like a gold loan.

Why Gold Loan is the Best Alternative to a Business Loan in Kolkata?

There are several reasons why gold loans can be considered the best alternative for business.

  • The eligibility criteria are less stringent since the loan is backed by gold, allowing new and small-scale businesses to acquire funds easily.
  • The documentation and verification processes are minimal and time-effective. Therefore, businesses can meet urgent financial obligations efficiently.
  • The cost of borrowing is considerably lower because the lender assumes much less risk in extending a gold-backed business loan.

Furthermore, borrowers can even avail funds via such financing option without having any prior credit history. This makes the cash flow easier, and the disbursal process swift and hassle-free. But, merely availing a gold loan does not ensure a convenient borrowing experience. The lender opted for also plays a vital role in this regard.

Why Should You avail a Gold-backed Business Loan in Kolkata from Rupeek?

Take a look at the benefits of a Rupeek gold loan for business in Kolkata.

  1. Highest Loan-to-Value Ratio

LTV is the percentage of the pledged gold’s total value that a borrower can avail as a loan. Rupeek offers the highest per gram rate to borrowers, ensuring they can meet their business expenditures adequately.  

  1. Doorstep Loan

Borrowers can avail an instant online loan at their doorstep with Rupeek. A loan manager visits the applicant’s home within 30 minutes of application for KYC registration and gold valuation. After the completion of these formalities, the loan is sanctioned to the borrower’s account instantly.

  • Affordable Interest Rates

With Rupeek, individuals can take out the best business loan in Kolkata against nominal monthly interest rates, starting at only 0.79%. This lowers the total payable amount, ensuring minimum repayment burden.

  1. Flexible Repayment

Borrowers can pay whatever and whenever, during the tenure, as per their convenience. They can also pay the entire amount in single bullet payment. We also offer rebates on regular payments, allowing customers to maximise their savings on interest payment.

Businesses looking to bolster their cash flow can also make use of Rupeek Quick, which further enhances the accessibility of credit and savings for borrowers.

How can Rupeek Quick help Business?

It’s a line of credit that we extend against the value of pledged gold ornaments. Borrowers can withdraw funds from the sanctioned credit line anytime to mitigate their business requirements without delays. What’s more, borrowers only need to pay interest on the utilised amount with Rupeek Quick, further facilitating savings.

Localities Rupeek Expands its Gold Loan Facility

Rupeek has been successfully offering customised gold loans to millions of customer. Now an individual can stop rummaging the search engine with ‘business loan near me’, and instead check Rupeek, which extends its service to the localities mentioned below.

  • Jadavpur
  • Dum dum
  • Baghajatin
  • Baranagar
  • Kalighat
  • Park street
  • Taltala
  • Ballygunge
  • Esplanade
  • Tollygunge
  • Ganesh Chandra Avenue
  • Park Circus
  • Behala
  • Dharmatala
  • Hastings
  • College Square

Rupeek’s gold loan is a convenient option for every individual looking for a way to expand their dream business in Kolkata. The city is gradually developing and opening up multiple business opportunities to new and old entrepreneurs. The need for an easy business loan in Calcutta has never been more pronounced.

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Frequently asked questions

  1. What is the minimum eligibility to apply for a gold loan for my business?

Individuals above the age of 18 and with sufficient gold ornaments in their possession can avail a gold loan. Apart from this, KYC documents and address proof like utility bills are necessary.

  1. What is the gold quantity required to take out a business loan in Kolkata from Rupeek?

The weight of the gold should be at least 10 grams or higher. It is determined after subtracting the weight of diamonds, stones, gems or any other forms of attachment. Ideally, 18-24 carat is considered as the standard gold intake.

  1. Is my gold item submitted for a business loan secure with Rupeek?

Yes, Rupeek follows ISO 9011:2015 certified processes to ensure maximum security. The representative carries the pledged gold items in a GPS-traceable bag and deposits it at the nearest partner bank’s vault. The gold remains stored in the vault and insured for the entire tenure.

  1. How fast is the disbursal process for a business loan against gold?

It does not require more than an hour for the whole process to complete, from appraisal to KYC verification to disbursal.

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