Business Loan in Noida
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Noida is an industrial hub located in Uttar Pradesh, India. It provides excellent infrastructure for businesses to set up and operate. Noida's very large population can provide the manpower needed for business operations. Furthermore, it has excellent connectivity options to other important cities like Delhi and Jaipur. Additionally, local authorities often offer rent relief or other assistance to new businesses setting up businesses in Noida. All these factors make it one of the most attractive places for entrepreneurs looking to start a business.
However, launching a business in this bustling city can be overwhelming. This is why entrepreneurs should consider applying for a business loan in Noida to help finance their venture and give it the best chance of success.
Piramal Finance offers highly sought-after Business Loans in Noida - tailored to your needs! Choose from machinery loans, unsecured working capital loans, and capital or term loan options. With a team of experienced professionals at your disposal, you can be sure that rapid growth and successful outcomes are only an opportunity away.
Features and Benefits of Business Loans in Noida
Quick Online Processing
When you apply for a startup business loan in Noida, we comprehend that you need the money as soon as possible. We can provide a small business loan in a matter of days. As a result, you can start or expand your business without worrying about a lack of funds.
Zero Collateral
The collateral-free small business loan in Noida is a key differentiator and a significant advantage of our business financing. Taking advantage of it is quick and less risky because it is an unsecured service. To obtain financing, you do not need to mortgage any of your personal or corporate assets.
High Loan Limit
A suitable amount of money is needed to cover business expenses and working capital. Access to money up to 10 lakhs to cover any expense associated with your business without sacrificing quality is one of the main benefits you receive from our Business Loan.
Long Repayment Tenure
Loan EMIs shouldn’t ever strain your business’s working cash holdings or revenue. This is not a concern with our business loan because you can select an adjustable length of up to 36 months. Based on your company’s cash flow, this enables you to organize your payback in the best possible way.
Eligibility Criteria for Business Loans in Noida
While applying for a business loan, there are a few required eligibility criteria that you have to meet. The eligibility criteria vary for salaried and self-employed individuals.
As a self-employed individual, you have to be a minimum of 23 and a maximum of 70 years of age. Employment To meet the eligibility criteria, you will have to work at a government institution, a public sector undertaking company, partnership firms such as an LLC, public companies such as private limited companies or limited companies, proprietorship concerns such as an individual proprietorship or HUF, MNC, and institutions run by NGOs, societies, and trusts.
If you are a CA, qualified doctor, or architect, you will be considered a self-employed professional. If you are a business owner, partner at a partnership firm, director of a company, or involved in a proprietorship, you will be considered a self-employed non-professional. However, directors of listed companies will be deemed as salaried applicants. Documents Make sure you keep two of your documents ready, including KYC documents, income tax returns for the past 2 years, Form 16, salary slips, bank statements of the last six months, and documentation related to your collateral property. You have to submit your Form 16, KYC documents, bank statement for the past six months, ITR for the past two years with computation, CA audited financials, and documents for your collateral.
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Row 1
- Criteria
- Salaried Individuals
- Self-Employed Individuals
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Row 2
- Age
- If you are a salaried individual, you should be at least 21 years of age to apply for a business loan. As a government employee, you can apply for a business loan utill you are 70 years old. You can only apply till 62 years of age if you work at a private company.
- As a self-employed individual, you have to be a minimum of 23 and a maximum of 70 years of age.
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Row 3
- Employment
- To meet the eligibility criteria, you will have to work at a government institution, a public sector undertaking company, partnership firms such as an LLC, public companies such as private limited companies or limited companies, proprietorship concerns such as an individual proprietorship or HUF, MNC, and institutions run by NGOs, societies, and trusts.
- If you are a CA, qualified doctor, or architect, you will be considered a self-employed professional. If you are a business owner, partner at a partnership firm, director of a company, or involved in a proprietorship, you will be considered a self-employed non-professional. However, directors of listed companies will be deemed as salaried applicants.
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Row 4
- Documents
- Make sure you keep two of your documents ready, including KYC documents, income tax returns for the past 2 years, Form 16, salary slips, bank statements of the last six months, and documentation related to your collateral property.
- You have to submit your Form 16, KYC documents, bank statement for the past six months, ITR for the past two years with computation, CA audited financials, and documents for your collateral.
Interest Rates and Charges
Piramal Finance is one of the best-unsecured business loan providers in Noida and offers business loans with interest rates starting at 17% p.a. for loans up to Rs. 10 Lakh that can be repaid over a maximum of 60 months. The borrowers are not obliged to provide any security or collateral for the unsecured business loans made available by the financial institutions.
What is the Objective of Taking a Business Loan?
- Short term loan
- A term loan has a predetermined repayment schedule that must be followed. The term 'short-term loans' refers to term loans with a tenure of fewer than 12 months.
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Equity funding
- In most cases, equity financing involves issuing additional shares in return for a cash investment. The investor purchases a stake in your business in exchange for the funds your business requires. This implies that the investor will gain from your company’s success.
- Credit line
- A line of credit (LOC) is a predetermined borrowing amount that may be accessed whenever necessary. Until the cap is reached, the borrower can withdraw money as needed. When a credit line opens, money can be borrowed more as it is repaid.
- Asset finance
- Asset financing is the practice of borrowing money or receiving a loan using assets listed on a balance sheet, such as inventory, trade receivables, and short-term investments. Piramal Finance necessitates a security lien on the assets, which the firm borrowing the money must deliver.
- Loan on accounts receivable
- With the help of accounts receivable financing, businesses can get paid early for their unpaid invoices. When using accounts receivable finance, a business agrees to prepay part or all of its outstanding invoices in exchange for a fee from the funder.
How to Apply For MSME/Business Loan in Noida?
Here is a step-by-step guide to applying for MSME loans in Noida. With Piramal Finance, you are an inch away from getting your MSME loan.
Step 1: Go to the Piramal Finance business loan Noida page. Read the features and eligibility criteria, and start the application process.
Step 2: Click on Apply Now
Step 3: Fill in the required Personal details such as Name, Contact Number, Birth Year, and Business Loan Amount.
Step 4: Choose the employment type 'Salaried' OR 'Self-Employed'
Step 5: Add your monthly income
Step 6: Select the State and branch (enter the branch by city) and Submit the business loan application form.
Step 7: Wait for a call from the official representative to move ahead with the processes.
After completing all the steps, like scanning, uploading the required documents, and paying the processing fees, wait until your business loan application is approved.
In Short
Noida is home to some of the world’s most successful and innovative businesses. The city offers great infrastructure, a conducive business environment, top-notch transport facilities, and a wide range of financial services that enable start-ups and established companies to thrive. Piramal Finance’s Business Loan in Noida is one such service that helps businesses access easy funds with minimum paperwork within 24 hours. With this loan, you can get money up to Rs. 10 lahks without mortgaging your assets or being exposed to high-interest rates. So why wait? Get the right funding for your business today!
Nearest Branches of Piramal Finance where you can visit and apply for a Business loan in Noida
Sector 2
The Sector 2 branch of Piramal Finance is located at PN 6, Phase 1, on the ground floor, basement, and 1st and 2nd floors. You can take a cab or drive yourself to the location. Getting a business loan in Sector 2 is the best option.
Sector 16
Piramal Finance's Sector 16 branch is located on the third floor of the World Trade Tower, Unit 302. The right way to get here is by taking a cab. Get the best business loan solutions in Sector 16 from experienced professionals.
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Frequently asked questions
To reduce repayment liability for a business loan in Noida, try the following:
- Try making prepayment if possible
- Increase the EMI slowly but progressively
- Select a short loan tenure, as the shorter the tenure, the lower the interest rate
- Choose the balance transfer option.
You can get a business loan in Noida via Piramal Finance for various purposes, such as:
- Launching your startup
- Expanding your business
- Consolidating your debt