The largest city of Punjab, Ludhiana is often cited as the Manchester of India. The small-scale industries in the city are highly famous for producing industrial goods, household appliances, hosiery, apparel, garments machines and auto parts. Moreover, the production capacities and business opportunities in Ludhiana have earned it the badge of the best business environment in 2013, according to an International Finance Corporation report.
The constant and rapid growth in its small-scale industries has inspired many business owners as well as entrepreneurs to set up their organisations in the city. And the financial institutions in Ludhiana have aptly supported these aspirations with a variety of business loans in Ludhiana, catering to an organisation’s multifarious needs.
Following are some categories of business loans in Ludhiana one can avail.
Applicants must fulfil certain criteria to be eligible for a business loan in Ludhiana. The standard eligibility criteria include:
Apart from fulfilling these basic eligibility requirements, applicants need to provide a wide range of documents to get an unsecured business loan in Ludhiana. These are:
A loan for business in Ludhiana offers a host of benefits. However, individuals who lack a robust credit history generally fail to get an unsecured business loan.
Also, businesspersons in need of urgent funds might find it difficult to address their concerns with such a loan facility due to lengthy documentation.
What’s more, the unsecured business loan interest rates make it challenging for small-scale organisations to service them without straining their finances.
In that context, a gold-backed business loan can pose as an ideal substitute owing to several factors.
Gold loans are secured, i.e., banks and NBFCs take gold as collateral and provide a certain percentage of its value as per the market rates and its quality. The benefits of gold loans are multitudinous. A few of these are:
Wondering who will provide you with the best business loan in Ludhiana against gold?
With so many banks and NBFCs in the market, it becomes an overwhelming task to select the best and most reliable lender during a cash crunch. In this regard, business owners can turn to Rupeek for their financial requirements.
Rupeek has made the entire process of availing gold-backed business loans easy and hassle-free. Below mentioned are some of the captivating benefits that business owners can enjoy with Rupeek.
With Rupeek, the search for ‘small business loans near me’ ends as business owners in Ludhiana can avail our services in the following areas and their neighbouring locations:
Debt financing is an essential strategy, critical in the growth and prosperity of any business. It’s equally important to opt for a loan facility that allows businesses to maximise their potential, reduces hassle, and ensures optimal flexibility. And a gold loan is a perfect example of that.
First, request for a loan through the official website or app of Rupeek, then complete the document verification process at your home. Finally, get the cash transferred to your account immediately.
Our lending partners are ICICI Bank, Karur Vysya Bank and Federal Bank.
Yes, you can.Our representative will only leave with your valuables after you have received the loan amount in your account. The person carries those items in a GPS-enabled bag so that you can track if the pledged gold articles are reaching the right destination. Moreover, we store your valuables, which are insured for the entire tenure, in a highly secured vault with one of our banking partners.
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