Business loans in Thiruvallur

The specific features can vary based on the financial institution. However, some features are standard across the financial sector. These are –

• Collateral Free Loan

Traditional business loans in Thiruvallur are unsecured or collateral-free. This enables individuals to avail business loans without having to pledge any asset with the lender. But this lack of security impels financial institutions to be more rigid with the eligibility criteria.

• High Interest Rate and Other Charges

To compensate for the higher risk that comes with lack of security, lenders charge strikingly high rates of interest ranging from 11% to 24% approximately.

• Eligibility and Documentation

In the lack of collaterals, business Loan provider in Thiruvallur pay increased attention to other aspects like type of business, CIBIL score, business vintage, and annual turnover, among others. Additionally, candidates will need to produce an array of documents like KYC, income tax returns, and bank account statement to complete the verification process.

Due to an elaborate documentation process, it can take as long as 3 to 7 working days for loan disbursal.

Hence, savvy businesspersons in Thiruvallur turn to simpler financing options like a gold loan.

One of the primary benefits of this financing option is that it allows individuals to utilise the equity of their gold items. Although not consumable, the yellow metal holds immense value, which continues to surge. Gold’s value shot up by nearly 40% in FY20, as per reports.

A gold loan provides an opportunity to realise the metal’s value without selling it. Businesses can leverage this facility to undertake a variety of expenses effortlessly. But, the financier also plays a vital role in enhancing the convenience of this financing facility.

In this regard, our industry-first benefits set us apart, helping us to ensure maximum convenience for business loan borrowers.

High interest rates and a rigid set of eligibility criteria deter a lot of budding entrepreneurs from availing urgent funding, which, in turn, can affect their business plans negatively.

Rupeek comes with an excellent alternative to small business Loan in Thiruvallur with our gold-backed business loans. Here are a few reasons why –

• Rupeek’s doorstep services save borrowers from the hassle of visiting a branch.
• Borrowers can avail funds against gold worth up to Rs. 1.5 crore at lowest interest rates starting from 0.79% with us.
• Individuals can check the amount they are eligible for from the comfort of their home with our online gold loan calculator.
• With our flexible repayment schemes, borrowers can pay the repayable amount whenever and however they wish within the tenure.
• Pledged gold items enjoy maximum security with end-to-end insurance, storage in a military-grade vault, and carriage in GPS-traceable bag.
• At your doorstep within 30 minutes of application owing to our strong presence in Thiruvallur.

The following is a list of the localities in Thiruvallur where you can avail our services:

• Poonamallee
• Avadi
• Thiruverkadu
• Periapalayam
• Ponneri
• Tiruttani
• Tiruvelangadu
• Minjur
• Pattabiram
• Uttukottai
• Pulicat
• Kadambathur

If you are a business owner, in this Thiruvallur, searching for “business loan service provider near me” as well, contact us today!