Rajahmundry is a city located on the eastern banks of the Godavari River in Andhra Pradesh. Officially known as Rajamahendravaram, this city is an embodiment of art, culture and tradition. It is also the birthplace of Telugu – the official language of the state. Being home to many historic temples and scenic locations, this city attracts a lot of tourists every year.
Rajahmundry also hosts one of the largest bullion markets in India owing to numerous gold, platinum and silver shops across the city. Moreover, it also serves as a significant industrial hub, generating ample business opportunities. Several market analyses have shown that there’s also a profitable market for medical and real-estate franchises in the city. Hence, it’s evident that there is ample scope for starting and growing your own business in Rajahmundry.
However, the scope also breeds intense competition, making it necessary for individuals in Rajahmundry to resort to business loans to survive and grow.
The features of business loans are as follows:
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.
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:
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 –
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:
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.
To apply for a gold loan with us, you can follow the steps given below:
No, for now, our lending partners only accept gold ornaments with a purity level of at least 18 karats, which is subject to valuation reports.
We have the most advanced gold loan payment portal that makes repayment exceedingly simple. Log in to your profile using the OTP and complete the repayment of your loan with ease.
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