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Business loans in India

India was recently termed as the only, truly emerging market in the world at the moment. A part of this growth is fueled by the micro, small and medium enterprises of the country. The SME sector contributes over 40% of the total GDP and remains a critical source of employment for the India’s growing population. Recognizing the importance of SME growth in the post-demonetization era, the government has started some new business loan schemes and boosted other existing ones

With small business loans, funding for your small business is now just minutes away. Use the funds to invest in infrastructure, expand operations, upgrade to the latest plant and machinery, maintain inventory, or to increase working capital.

Purpose of a Business Loan

Since a business loan does not entail any spending restraint, a borrower can use it for a range of business expenses, including –

  • To expand operations
  • To buy inventory
  • To purchase equipment
  • To maintain working capital
  • To improve credit history
  • To pay salaries to employees
  • To revamp the working area
  • To buy infrastructure

Eligibility Criteria for a Business Loan in India

The table below illustrates the requirements that one needs to satisfy to avail an unsecured business loan in India. 

Particulars

Requirements

Age

Should be between 18 and 65 years.

Business Type

  1. Partnership
  2. Proprietorship
  3. Private Limited
  4. Public Limited

Business Vintage

At least o2 years 

Documentation

  1. Identity Proof
  2. Address Proof
  3. Proof of business ownership
  4. Financial documents (duly audited by CA)
  5. IT documents
  6. GST certificate
  7. ITR documents

Lenders determine the interest rates based on an applicant’s eligibility. Thus, small-scale enterprises and new businesses might need to pay higher interest to service their borrowing.

Alternatively, prospective borrowers can settle for a hassle-free Rupeek gold loan. All they have to do is pledge their gold deposits to avail funds against their value. But, that’s not all borrowers can enjoy with a gold loan from Rupeek.

Gold-backed Business Loan as an Alternative to Business Loans

As gold loans are secured, borrowers need not go through the stringent eligibility criteria or lengthy documentation. They can get access to the funds immediately to continue their business operations.

Below is a brief discussion of the benefits of gold-backed business loans in Trivandrum.

  • Quick Disbursal: Gold-backed business loans enable businesspersons to get quick funding as the documentation is minimal, and the entire process is hassle-free compared to traditional business loans.
  • No-end Use Restriction: Gold-backed business loan providers do not monitor the end-use, which provides borrowers with the flexibility of using the fund as per their requirements.
  • Secured Loan Type: Since gold-backed business loans are secured, banks and NBFCs approve the loan at the earliest. Also, it reduces the total cost of the borrowing amount due to its secured nature.

Due to the availability of various business loan providers in Kerala, borrowers must choose wisely the right lending partner as per their requirement and after careful analysis of terms and conditions, repayment procedure, etc. Our lending facilities at Rupeek can prove to be very helpful for people looking for quick funds for a business.

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Why Rupeek?

Our industry-first benefits can beat even the best business loan in Tirunelveli. Some of these are mentioned below. 

  • Minimal Documentation 

People only need to complete KYC verification to get our gold loan. Some of the documents required for gold loans include PAN Card, Aadhaar Card and others. 

  • Safety Assured 

Your gold is safe with us owing to our advanced safety protocols. After the collection of your pledged loan, our loan manager carries that in a GPS-traceable bag and deposits the gold at the nearest bank’s vault and follows the same procedure after the loan tenure ends. Additionally, we also offer door-to-door insurance of the pledged gold items to ensure the highest safety of the same. 

  • Highest Per Gram Rate 

We offer the highest per gram rate of gold. It means borrowers can get most of the equity of their gold, availing our loan. With an LTV of up to 80%, borrowers can take out loans up to Rs.1.5 crore. 

We also have a gold loan calculator that allows prospective borrowers to measure gold quantity they need to pledge to acquire the funds.

  • Instant Approval 

Borrowers can avail funds within 45 – 60 minutes with us. This allows businesspersons to attend to any financial emergency efficiently.

  • Flexible Repayment 

Rupeek allows borrowers to choose a repayment option that suits the best of their financial capacities. For instance, unlike a business loan in India, they do not need to pay regular EMIs. They can either repay the outstanding loan amount whenever they have a surplus at hand, or they can repay the entire amount at one go through a single bullet payment. 

Moreover, we also extend an overdraft facility that allows borrowers to avail instant funds as and when they require from Rupeek. 

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How is Rupeek Gold Loan a Better Alternative for a Business Loan in India?

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 India 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 India.

Gold Credit Line offered by Rupeek

During urgent or frequent cash requirements, borrowers can get immense benefit from this overdraft facility of ours, Rupeek Quick. Through this credit line, businesspersons in India can withdraw funds anytime from anywhere to mitigate their business’s monetary obligations. Furthermore, this feature allows borrowers to pay interest only on the used amount, not on the entire sanctioned limit.

One can avail our services in a matter of 30 minutes from anywhere in your city, thanks to our presence across all the major cities. With us, borrowers no longer need to search for “business loan providers near me”.

Top Cities in India where Rupeek Operates

We offer our services in and around:

  • Bengaluru
  • Delhi
  • Hyderabad
  • Mumbai
  • Chennai
  • Pune
  • Jaipur
  • Ahmedabad
  • Kolkata
  • Surat
  • Coimbatore

The economy of India has gained considerable strength from the large-scale investments in both the industrial and business sectors in recent years. Therefore, businesspersons willing to expand their business or starting a new one can opt for a gold-backed business loan in India from Rupeek to keep up with the competition.

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Business Gold Loan Calculator

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We offer the highest per gram rate on our gold loans.

Today’s max loan value/gm () **

Today’s max loan value/gm ()
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Frequently asked questions

  1. What is the maximum amount I can avail for my business loan from Rupeek?

You can avail up to Rs.1.5 crore from Rupeek based on the purity of your jewellery.

  1. What are the documents required to avail a gold-backed business loan from Rupeek?

One need to submit KYC documents to avail funds from Rupeek. However, one must be above 18 years old to be eligible.

  1. What is the limit set by Rupeek to use a gold-backed business loan?

It has no end-use restriction. Borrowers can utilise the amount to address a range of financial obligations, like maintaining adequate cash flow, buying new equipment, expanding operations, etc.

  1. Can I repay my gold-backed business loan in parts?

Yes, Rupeek provides you with the option to make part payment.

All you have to do is:

- Go to the “Repay your Loan” page.

- Sign in with your registered mobile number.

- Under the payment option, click on “Part Payment”.

You can select any amount greater than your monthly interest and less than the total repayment amount for part payment.

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