Small Business Finance
Applying for a business loan online with Aanoor group will give you determined approach to lend from financial institutions which opts for the customers/organizations. Business is activity of making ones living through either manufacturing, buying and selling products, providing support and maintenance services and others.
Starting From
₹2,800
with in *5 working days
An Overview of Smal Business loans
Businesses usually required funds to diversify their activities and of course to compete with others in the market. There firm need loan to expand their operation towards growth. There are many schemes available for business loan and subsidies offered by the Government to support Small Business Entities. As per financial institutes analysis on loan only less than 1% of SMEs are able to avail these benefits. The reason is due to lack of awareness on facilities for MSME is major factor. It’s a loss for Small businesses and miss huge opportunity.
We Aanoor group are expertise with small business loan for all type of entities which thrives to sustain with funds and expecting government subsidiary to their machineries and factory setup.
Key factors of business loan
- Funds used for business may be released with various options based on business proposals.
- Purchase of properties to new factory setup.
- Expanding business by erecting new machineries.
- Financing for new projects.
- Expansion and marketing of new brands.
Types of business loan facility
Secured Facility
The business loan offered against a collateral to the applicant or co-applicant. Funds released against property attached whether it may be in the name of company/individual who belongs to business.
Unsecured Facility
Business Loan offered without any collateral, mostly considered to be like a personal loan facility for a businessperson. This sort of loan can be done for the companies with good financial position will get the loan as addendum.
Further these Business loans can be classified based on funding type are as follows,
Working capital
It refers to the funds which are required for financing short-term or current assets such as cash, debtors & Inventories. Companies with financial hurdles were get major relief on this sort of facilities. It will ensure their hope on financial institutes to way forward in their business activity.
Overdraft
The quickest form of facility that any bank can give and is similar to the Mortgage loan facility. Business growth loan for the entities can apply online with their business bank to avail this facility. It may depend on bank terms with the net worth of the company.
Cash credit
This facility is considered to be a true form of working capital for any firm as it involves the total amount of circulating funds required for the continuous operation of the unit on an ongoing basis. It may be applicable only for the manufacturing sector and companies deal with stocks and inventories.
Business loans Eligibility
For availing a business loan with banks or any financial institution, following are the basic requirements.
Age proof & Income details
Age Limit will be 21 to 65 years and business Income for Previous Two years ITR, with profitability.
KYC, Business Proof
Identity (Driving License / PAN Card / Passport / Voters ID Card / Aadhaar Card.) and Address proof (Ration Card /Telephone Bill / Electricity Bill / Passport / Trade license / Lease agreement) of the applicant and co-applicant
Credit Score
Over and above the given eligibilities, credit worthiness of the borrower is a primary factor seen by financial institutions before offering a Business Loan. A good credit score given by credit agencies helps the lender to provide business loan to the borrower on a quicker basis.
Interest Rates and Charges
Interest rates are a major factor which decides the business owners for availing the business loans for their business facility as it becomes a liability on their part to serve the interest regularly.
Banks and financial companies offer various interest rates based on their own corporate credit policies framed every year. Banks are bound to follow the regulations of its regulator, which is RBI, the central bank of India.
Interest rates are addition of the Base Rate or MCLR (Marginal Cost Lending rate), or BPLR (benchmark Prime Lending rate) and the margin set by the banks or financial institutions.
Business loans are processed and they incur Processing charges that differ from one lender to the other.
Process of Business loans
Many of business owners feel applying for a business loan is a cumbersome job and takes lot of paperwork. We also explore possibilities of providing small business start up loans to companies, start up business loans are the most expected by new entrepreneurs. Small Business people seek support for raising capital and funds for operating their day to day business. We assure you easy and hassle free process of applying for business loan
Approach
Once you have started your business and having successfully doing it for a couple of years, you would basically need capital to take it to next step. Whenever this thought comes into your mind, approach us immediately
Analyze
our experts sit with you to analyze your financial needs
Apply
We help you find the best suitable institution to apply for your business loan
Why we
We at Aanoor Group, help you facilitate these business loans. We understand your requirements better as we are into formation of business itself. Our logo itself states “Origin of Entrepreneurship”.While we help the formation of business itself, we also help the business leap into the next step with help of business loans coordination and application. With nearly a decade of experience into markets, we want to help our clients build their business completely with us.
Need Help?
Our experts are ready to assist you with the Business Loan process.
Call Us Now Request a CallbackFast Track
We ensure a smooth, hassle-free registration process with transparent pricing and absolutely no hidden fees.