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Collateral free Business Loans in Ahmedabad

Collateral free Business Loans in Ahmedabad

Applying for a business loan in Ahmedabad, whether for starting a new business, expanding an existing one or to furnish it with state-of-the-art equipment's, is no longer a difficulty, as lenders will offer you easy, fast, paperwork-free, low-eligibility, collateral-free loans in Ahmedabad, with very competitive interest rates in tune with the market.

Perks of Applying for a Collateral Free Loan Online:

  • With super-fast processing speed, the processingis completed within 72 hours.
  • Since no collateral is required, the SMEs (Small and Medium-sized Enterprises) applying for a loan do not suffer from any risk of asset loss.
  • Interest rates are also fair, starting from 1.25% per month.
  • The lenders care about the borrower's convenience. Hence they offer flexible repayments.
  • The lenders require minimal documentation, that too via scanned images uploaded online. Balance sheets are also not required.
  • For businesses having a yearly turnover of 10L+, the collateral free loan is offered.
  • After proper processing, the borrower may receive requested funds within three days, straight into his/her account.
  • There are no prepayment charges, and repayment can be made via easy and flexible EMIs.
  • Easy to fulfil eligibility criterion, with only two years of ITR filing and 10L annual banking credit.

The different types of collateral-freeloans offered to the SMEs at Ahmedabad are as follows:

  • Short Term Business Loans
  • Equipment Financing Loan
  • Unsecured Working Capital Loan
  • Restaurant Business Loans
  • Business Loan For Small Manufacturing Companies
  • Fixed Asset Purchase
  • Loan for Office Purchase
  • Business Expansion Loan
  • Debt Consolidation Loan, and more.

Why Avail Collateral free Business Loans in Ahmedabad

Small and medium-sized business owners cannot afford to provide collaterals for securing a business loan. Due to this reason, they often have to face rejection while applying for loans. Therefore, a collateral-free business loan would be the best option for such business owners. The good news is that lenders in Ahmedabad do offer business loans without collaterals. To top it off, the terms and conditions for the borrowers are easy to meet. These unsecured business loans are offered to the borrowers at the most affordable interest rates in the current lending market.

Collateral free loans in Ahmedabad are available through multiple lending platforms to help you grow your business with the vision you have in mind. The right kind of business loan, with low and competitive interest rates, may help you instantly, with giving your traditional office-space a modern makeover or buying furniture for the office and other fixed assets. The lenders will also provide you with genuine, expert help regarding the utilisation of the borrowed sum, as they understand the specific business growth and expansion requirements of the small and medium-sized business owners as well as other self-employed people.

Get Quick Processing and Easy Documentation While Securing a Business in Ahmedabad

Ahmedabad, being an important centre of trade as well as Gujarat’s largest industrial hub, has seen rapid development in industrial and infrastructural sectors over the past decade. Currently, a hotbed for trade, commerce, and business, Ahmedabad's numerous industries are fuelling its exponential growth. Therefore, it is only natural that the people are propelled to either start new ventures or to expand the existing ones. Many new enterprises, whether of micro, small, or medium scale, involving pharmaceuticals, automobile, etc. have come up within the last decade in Ahmedabad, further promoting the economic growth of the city.

There has always been the need for additional financing while doing business in Ahmedabad, and now upsurge of newer business ventures has made the necessity even greater to stay in the competitive business. Over the years, this need has been met by the traditional lending institutions; they required the borrowers to provide collaterals in case they could not pay back the borrowed amount. However, now, unsecured business loans have become a new trend in the financial services sector, which refers to business loans without collateral. A lot of lenders and private financial institutions in Ahmedabad provide such non-collateral business loans, with quite a lot of customer-friendly policies.

The Whole Step-by-step Process of Availing Small Business Loans In Ahmedabad:

A prospective borrower can apply for the small business loans in Ahmedabad by following the easy steps mentioned below:

  • Filling in Business Loan Application Online:

The requisite application for a business loan can be filled in online, either on the website or on the mobile app. After filling in the fields of the business loan application form, click submit.

  • Submitting Requisite Documents For Sanctioning Business Loan:

Submit scanned copies of all of the documents required for a business loan on either the website or on the mobile app to avail of the easy business loan.

  • Get Business Loan Approval Almost Instantly:

With an unbelievable document processing time of 59 min, it is no longer a hassle to get approval for your collateral-free business loan in Ahmedabad. Once the business loan application goes through approval, the sanctioned amount of business loan gets disbursed within the few days of signing a contract with the concerned lender.

Eligibility Criteria for Collateral Free Business Loan Approval in Ahmedabad:

Citizenship and Residential Proof:The borrower has to be an Indian citizen currently residing in India.
Age:● The borrower has to be above 18 years of age.

● He or she must also be capable of entering into a legal contract, in accordance with the Indian Contract Act.

Documents Required:

  • PAN Card
  • Aadhaar Card

Address Proof (anyone):

  • Driving License
  • Voter ID
  • LPG Bill

  • Passport size photograph.
  • Statements of Bank Account (for Self-employed Borrowers/Businesses)
  • Income Tax Returns (ITR)/Form 16 from the past two years
  • GST Certificate
  • Business Registration Certificate.

Financial Details:The borrower needs to have:

  • Valid Bank Account
  • Aadhaar Card
  • Valid PAN number

Key features of borrowing collateral-free business loans in Ahmedabad:

  • The loan amount can range from a minimum of Rs. 50,000upto a maximum of Rs. 2 crores.
  • Interest rate starts from 15.35%
  • Even if you don't need the loan amount right at this moment, you can choose to get the borrower credit evaluation done. In that case, whenever you approach the lender again, your loan amount will be disbursed within 24 hours without delay.
  • You can pay the money back at your discretion, via bi-weekly or monthly repayments.
  • Repayment is hassle-free once you set up the payment instruments. Once you decide the duration, your bank account will get automatically debited on the due dates.
  • Loans can have durations ranging between a minimum of 1 month to a maximum of 3 years.
  • The sanctioned limit of loans is determinedbased on revenue/sales. With increased revenues/sales, the limitis also enhanced.
  • No hidden charges. Lenders only levy 2% processing fees on the sanctioned amount.
  • No pre-closure charges are levied.
  • Don't be worried about your personal data getting leaked. Security is prioritized,and a confidentiality agreement is maintained concerning all of your data.

The lenders above, with the help from their technology-enabled platform, have streamlined the entire process of business loan application for their customers. They have also granted business loans to thousands of SME businesses, which include retail shops, pharmacy shops, vegetable vendors, clothing stores, courier companies, etc. The lenders' mobile apps and websites can really empower their customers' business through the all-in-one-place solution for applying for a business loan, joining business networking groups, building connections, and getting exclusive and personalized business profiles.

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