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Business loans in Surat

Renowned as the Economic Capital of Gujarat, Surat is a promising smart city with several big industries anchored there. This city is an economic hub for diverse sectors like textile manufacturing, diamond cutting and polishing, petrochemical & chemical industries, among others.

Surat facilitates almost 40% of total diamond exports of India, besides 12% of the country’s total fabric production, according to the official website of the Surat Municipal Corporation. This stands testament to the compact, business-friendly environment and infrastructure of Surat. Not to mention, various start-ups and enterprises have mushroomed in this coastal city of India over the years, and so did the demand for a business loan in Surat. 

A business loan is one of the most convenient ways to raise the required funds and maintain an uninterrupted cash flow. However, owing to increasing numbers of delinquencies over the years, most financial institutions thoroughly check the eligibility of loan applicants before approving such a loan.

What is the Eligibility for a Business Loan in Surat?

While a business loan is essential to bridge the gap between the shortage of funds and required liquidity, the borrowers need to go through a stringent eligibility check.

Following are some of the aspects that they need to fulfil to avail an unsecured business loan in Surat

  • The vintage of business (2 – 3 years running in profit)
  • Annual turnover of Rs.25 lakh or more
  • A balance sheet of profit and loss, duly audited by CA
  • A credit score above 750

Apart from these, candidates also need to present the following documents to avail a business loan –

  1. Address proof
  2. ID proof
  3. Proof of business ownership
  4. IT documents
  5. Partnership agreement (for partnership firm)

Being collateral-free, most business loan providers in Surat regard this loan as high-risk lending. Thus, meeting the eligibility criteria is a mandate. However, unfortunately, many business owners cannot always meet all the criteria.

For such individuals, a gold loan for business can be an excellent substitute for a business loan. But, aspiring borrowers must compare the two types of loans to make a financially sound decision.

A Comparison between Business Loan and Gold Loan Features

Following is a difference between Rupeek gold loan and business loan in Surat.

Point of Difference

Gold Loan

Business Loan in Surat

Type of Loan

Secured

Unsecured

Loan Amount

Depends on the pledged gold’s value

Depends on eligibility

CIBIL Score

Not Required

Required 750+

Eligibility

Anyone with sufficient gold

Have to meet lender-specific eligibility criteria.

Documentation

Only KYC

KYC, business-related documents, and financial documents.

Interest Rate

Starts at 0.79% per month

Ranges between 11%-24% p.a.

Doorstep Service

Available

Not Available

LTV

Up to 80%

Not Applicable

On top of that, Rupeek also offers several repayment schemes so that borrowers can repay their loan sans hassle. 

Why Rupeek Gold Loan?

Rupeek is one of the best business loan providers in Surat owing to the following benefits it offers –

  • Substantial Loan Amount 

Individuals can take out a loan up to Rs.1.5crore against their gold jewellery with Rupeek. We offer the highest per gram value, ensuring borrowers can mitigate their financial requirements adequately. Prospective borrowers may use a gold loan calculator to check the loan amount they can procure against their gold in possession

  • Lower Interest Rate 

The gold loan monthly interest rate in Surat starts at 0.79%, making this borrowing option more affordable for individuals. Such low rates reduce the cost of borrowing and offer greater financial leeway to businesses. 

  • Quick Approval and Disbursal 

Being a secured loan, Rupeek approves and disburses a gold loan immediately within 30 minutes to 1 hour. It is possible because Rupeek has in place a simple online application process to avail the gold loan.

  • Secure Loan Processing Procedure 

The entire process of KYC verification and loan approval takes place at borrower’s home. Therefore, the safety of gold is ensured. Moreover, the pledged gold is stored at a bank vault within a radius of 5km of the borrower’s residence. 

Apart from these, we also offer Rupeek Quick. Businesses can easily meet their instant financial requirements by leveraging this service. 

Rupeek Quick: One Stop Solution for Instant Funds

An urgent business loan in Surat is challenging to come by owing to the various formalities it entails. To ensure businesses can address their emergency financial obligations efficiently, we offer Rupeek Quick. It’s a credit line that borrowers can secure by pledging gold once.

Businesspersons can take out any amount they require from the sanctioned limit whenever to meet a host of financial obligations. What’s more, borrowers only need to pay interest on the borrowed amount, which lowers the repayment liability significantly.

List of Locations Where Rupeek is Operational in Surat

We are available in almost all the major cities in India, including Surat, Gujarat. Following are a few localities of Surat where you can find doorstep service for Rupeek gold loan. 

  1. Amroli
  2. Adajan
  3. Pal 
  4. Sachin 
  5. Dumas Road
  6. Dumas 
  7. Hajira
  8. Katargam
  9. New Textile Market 
  10. Mota Varachha 
  11. Udhana - Magdalla Road
  12. Umarwada
  13. Piplod
  14. Olpad

Your search for an instant business loan near me has led you to the right place if you are from any of these localities or their neighbouring regions. Contact Rupeek today and get your desired loan amount!

While getting a business loan in Surat is tricky due to the competitive market scenario, Rupeek gold loan can come to the rescue that simplifies borrowing for business. Furthermore, availing a gold loan, individuals can make the most of their gold equity to acquire funds for business or any other reason at large. 

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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. How to get the lowest interest rate in Surat on a business loan?

The interest rate of business loan primarily depends on the lender and the eligibility of the borrower. For instance, if you wish to get the lowest interest rate on a business loan, you need to have a CIBIL score of 750 or above. Alternatively, you can opt for a business loan against gold.

  1. Which is the best place to avail a gold-backed business loan?

Several NBFCs in India offer a gold loan. However, Rupeek is one of the most preferred gold loan providers of India due to the doorstep service we provide. 

  1. Is there any lock-in period for Rupeek gold loan in Surat for business?

No, a Rupeek gold loan does not have any lock-in period. 

  1. What is the repayment structure of a gold-backed business loan?

There are primarily three different repayment structures of Rupeek gold loan that individuals can choose from; interest payment, part payment and closure payment. You can select the repayment option based on your financial capacity and choose to pay via various modes of payment, like net banking, credit/debit card, etc. 

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