Business loans in Rajahmundry

The features of business loans are as follows:

• Collateral Free: Business loans are unsecured loans, and hence, they do not require any security or collateral. Nevertheless, they check certain documents to make sure that the eligibility criteria are fulfilled before sanctioning the loan.
• Interest Rate: Business loan interest rates in Rajahmundry usually range between 14-24% per annum. The applicable interest rate depends on the applicant’s eligibility.
• No end use restriction: You can use a business loan to address a variety of expenses since there’s no end-use restriction involved.

Enterprises can avail a business loan to fund new projects, meet working capital requirements or purchase new equipment. But financial institutions have certain eligibility criteria that one needs to fulfil to apply for a loan. 

• The age of an applicant must be between 21 and 65 years.
• An applicant should be running the business for at least 2 years.
• The business should have an annual turnover of Rs. 25 lakh or more.

You must check the eligibility criteria first before applying for a business loan in Rajahmundry.

Here are the documents that need to be submitted to avail a business loan:

• Income tax return files of the last 3 years along with audited financial statements like the Profit and Loss account and Balance Sheet
• The enterprise’s bank account statement of the last 6 months
• Business-related documents like partnership deed, trade license, PAN card, Memorandum of Association
• KYC documents of the applicant such as Aadhaar card, PAN card, proof of address and more.
• Proof of ownership of the company’s possessions.

This rigorous documentation process can be quite intimidating for a business that’s not yet established. Moreover, start-ups with great potential can often fail to meet the eligibility criteria. Plus, the high interest rates make it difficult for small-scale businesses to service a loan properly.

Thus, if you’re a businessperson and require funds immediately, there’s another option that you might want to consider.

»

A gold loan is a secured advance that an individual can avail from a lender against gold ornaments. The amount sanctioned by the creditor is usually given by a percentage of one’s total gold’s value, determined based on the LTV.

Gold loans have gradually become one of the most popular methods of raising funds for businesses in India. According to a recent study conducted by KPMG, the gold loan market in India is expected to expand at a CAGR of 13.4%. It is anticipated that the valuation would reach Rs 4,617 billion by 2022. 

A gold-backed business loan enables you to raise adequate funds for your urgent needs even if you do not possess a high CIBIL score. If you’re looking to accelerate the growth of your business and fulfil the objectives, the gold stored in your locker is the answer.

But, there’s also a pronounced need to turn to a trustable lender for a gold-backed business loan online. And Rupeek stands out in that regard owing to the several customer-friendly features we offer.

We have collaborated with the leading financial institutions, like ICICI Bank and Federal Bank, to provide you with the best gold-backed business loan in Rajahmundry.

Here are a few benefits that you can enjoy with a Rupeek gold loan –

• You can avail a loan quickly from the comfort of your home or office with our 30 minutes doorstep loan service.
• We offer the highest per gram rate to ensure you can optimally leverage the value of your gold items.
• Our monthly interest rates start from just 0.79%. Thus, you can finance your enterprise’s expenses affordably with our gold-backed business loan.
• You can get an extended credit line, also known as Rupeek Quick, based on the value of your gold and pay interest on the amount that you use.

We also provide you with a user-friendly gold loan calculator. You can easily find out the required amount of gold by entering the loan amount and purity of your gold ornaments.

Moreover, our extensive service coverage across Rajahmundry makes it even easier for businesspersons to avail our services.

You can avail our doorstep loan service in the following areas:

• Maredumilli
• Rampachodavaram
• Draksharamam
• Danavaipeta
• Lakshmipuram
• Kadiyam
• Mandapeta
• Ramachandrapuram
• Konthamuru
• Korukonda

Your search for the “best business loan provider near me” ends here with us. We are here to make your dreams come true. Apply for a gold-backed business loan in Rajahmundry today and seize the opportunity.