Business Loans

Loan amount from Rs 3 Lakhs to Rs 75 Lakhs

Loan Tenures from 6 months to 3 years

Facility to top-up existing loans

What is Business Loan?

In order to understand how a business loan works, imagine borrowing a capital to fund a startup or pay for an existing business’s expansion without pledging anything against the borrowed amount. A Business Loan in Chennai is thus an unsecured loan at an interest rate, giving you access to credit that can be paid back over an agreed time along with the interest, without any security against it

How to get Business Loan?

The general finance market today has explored a vast scope in funding the small and medium enterprises (SMEs). Banks have expanded their credit options to SMEs by regularly updating their product lines, services and even opening special counters.

Business loans in Chennai can be applied for a Various requirements such as starting new ventures, expansions, new purchase, working capital requirement, vendor and dealer financing, bill discounting etc.

An OPC is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder.

Thus, it does away with the hassles of finding the right kind of co-partner/s for starting a business as registered entity. The best part is, legal and financial liability is limited to the Company and not the member.

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We Serve Everywhere

Chennai Filings offers vaious financial services like home loans, Business loans and term loans etc,Our Financial solutions are designed to help our clients maximize their business opportunities.

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Income tax

We will provide income tax return preparation, Revised return, Responding to Department notices and solving other Income Tax related issues

Business Licenses

Our Professionals Will help you in getting your business licenses and Business licenses necessary for smooth running of businesses

Financial Services

we will Provide Funds for both personal and Business. Our funding system gives a credit line facility, enabling you to expand your business to new heights

GST Returns

We will make your business to GST Compliance. Returns are required to be filed digitally online through a common portal to be provided by GSTN

Emi Calculator

What are the Documents required for Business Loan?

What Includes in this package?

FAQs

No business can run successfully in case of shortage of capital. You can get a business loan from Bajaj Finserv for your short or long term financial needs. Whether your business is at an initial stage or in the growth phase, additional finance can help you keep up the momentum.
You can get a business loan for up to Rs.30 lakh within 72 hours. The approval time may vary depending on the loan amount you apply for. Once your upload your documents, a Bajaj Finserv representative collects your documents from your doorstep. Once the documents are verified, your loan amount will be disbursed immediately.
Borrower’s PAN card, address proof, last two years financial statements including profit and loss account and balance sheet, last six months bank statements, VAT/Service tax returns, partnership deed/MOA, existing loans repayment track record, partner/director’s PAN card, KYC, own house proof, ITRs, etc. Additional documents may be required on a case to case basis.
Borrower’s PAN card, address proof, last two years financial statements including profit and loss account and balance sheet, last six months bank statements, VAT/Service tax returns, partnership deed/MOA, existing loans repayment track record, partner/director’s PAN card, KYC, own house proof, ITRs, etc. Additional documents may be required on a case to case basis.
Business loan is a 1-3 year unsecured loan given by banks, NBFC’s (Non Banking Finance Companies) or P2P lending platforms without asking for any collateral, guarantor or hypothecation of any assets. Entities like proprietorship, partnership, private limited company or public limited company are eligible for this type of borrowing. The usage of a business loan is left to the discretion of the borrower and can be used for working capital purposes, meeting short term cash flow requirements, investments into plant and machinery etc.
The business loan tenure can range from 12 months to 36 months.
Business Loan eligibility depends on the following factors: Credit score of the loan applicant/co-applicant The last two years financials of the borrowing entity Information about the Debt Service Coverage Ratio: This information tells the lender whether the borrower will be able to service the EMI for the current loan.
All business loans are repaid through EMIs or equated monthly installments from the borrowers bank account. The borrower or customer is required to either give PDCs or sign an ECS mandate in favor of the bank disbursing the loan.
The bank will levy certain ECS bounce charges or penalties. Additionally, that will also get reported in your credit report. Depending upon the severity and the regularity of the miss, it may have a serious impact on your future credit possibilities like in obtaining a home loan, car loan, etc. Additionally, banks may also take legal action against the borrower.
EMI (Equated Monthly Installment) is a monthly amount that you have to pay back to the bank or funding institution for the loan you have availed. The EMI is inclusive of both the principal and interest components.

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