- Types of business loans
- Eligibility Criteria
- Documents Required
- Features of Shriram City business loan
Have you been running your business for three years? Is your turnover more than 20 lakhs? If yes, then Shriram City business loan will finance all your small business requirements. With over 45 years of experience handling micro, small and medium enterprises to help your business grow and thrive, Shriram city business loans are meant to empower you and take your business to greater heights.
Unfortunately, even after many government plans and schemes, the MSME sector has not been able to thrive as much as it is supposed to. So, to bridge the gap between your needs and wants, Shriram City offers customised business loans at competitive rates of interest to suit your capability and capacity.
Whether you need short-term business loans to run your business or buy, say, machinery loan, Shriram city, as per your needs, customises different types of business financing loans to help your business grow.
In this fast-paced world, whether it is technology, machinery, or infrastructure arrangements, as an entrepreneur, you would be aware of how necessary it is to have the funding to manage your business and other requirements. So, if these above criteria define your business, you must fulfil the eligibility requirements to apply for Shriram City Business loan.
To avail the short-term business loan or long-term business loan, you need to make sure your documents are ready and available during the same time.
From easy working capital and funding availability to competitive interest rates, if you wonder why you should choose Shriram City over any other company, these are some of the benefits.
Fast and secure processing
The faster the approval, the faster you receive your funds. Ergo it allows you to carry out your business with better flexibility, liquidity, and risk-taking power. With 45 years of experience in funding MSMEs, Shriram City business loans offer fast and secure processing of loans to make sure your business needs don't come to a halt just because you couldn't provide funds for your business.
Whether you are seeking funds for short-term business loans, to get your business on track, or finding different types of business loans, you need time to plan, evaluate and put it to action. Shriram City offers you a loan tenure starting from 12 months to 60 months based on your business needs and what would help to receive your business to the best of its capabilities.
Working capital arrangements
Business is filled with uncertainties, and you never know when, where, and how you would require cash. For instance, no one anticipated the COVID-19 pandemic and the precariousness it brought upon the businesses.
So, to run your business and face any uncertainty like this, we should always have easy working capital availability - whether it is in the form of assets, loans, or shares. Funds are something a business should always have handy. Offering you loans at 15% interest with a portfolio-wide spectrum, Shriram City business loans can meet your needs from Rs 1 Lakh to Rs 10 lakh.
With a 15% interest rate, you can easily be repaid the amount borrowed in EMIs over the months. The best and easiest way to do it would be to set up monthly EMIs, which will debit money from your account monthly, and this will take place till the end of the loan tenure. The best part of the loan is that from 15% interest rates, less than 2% processing fee to 3% closure charges, Shriram Business loans allow easy repayment options.
Small, medium, and micro-businesses are entitled to apply for a loan with Shriram City; however, few things are to be noted: Your business takeover should be Rs 20 lakhs, the minimum age to apply for the loan is 23, maximum age 65 years.
There is a flexible tenure from a minimum of 12 months to a maximum of 60 months to avail necessary funds to get your interim funds on track for your business. The interest rates start at 15%, with less than 2% processing fee, 3% to 6% closure charges, and flexible monthly repayment.