Banks in India provide SME loans to fulfil every business wish you have. Different lenders have different schemes and products to support your business cycle. Know about every detail about SME, Small and Medium Enterprise Loans online in India. Know SME loan eligibility, SME loan interest rates and maximum limit, from Loanyantra.com. SME loans for new businesses is encouraged tremendously by various lenders with attractive SME loan interest rates. Compare SME loan interest rates, choose a lowest interest rate, opt for a hassle-free documentation process for SME loan and get the disbursal of SME loan amount prompt for your need. All you need for SME loan documentation is to have your recent documents like, 2 years audited financial statements along with Income Tax Returns of the entity and the promoters, Sanction letter of all existing bank loans, Last 6 months bank statement of the entity, Declarations for investment in plant & machinery, Identity proof and address proof of the promoters Constitution documents and address proof of the entity. SME loans can be secured or unsecured. SME loans can be used for expanding, improving or modernising of the business. You have flexible tenures, and interest rates from SBI are a little lower when compared with other lenders SME loan interest rates. The SBI SME Open Term Loan can be utilized for any valid commercial purposes in line with the usual business activity of the customer. These would comprise term loans for Expansion and modernization, Up gradation of technology and energy conservation schemes or machinery, Acquisition of software, hardware, consumable tools, jigs, fixtures etc, ISO and other similar certifications, Finalizing business deals, Involving in fairs for market promotion. SBI SME loans offer Stress-free pre-approved line of credit, Max Loan Amount up to Rs. 250 lakhs for Manufacturing and Rs. 100 lakhs for Trade and Services, Legal binding for 12 months, Liberty to avail the capability at your own ease, within the legality of sanction, Multiple disbursements permissible, No fine on the unutilized amount even if totally unutilized.
Axis Bank SME Loan Interest Rate, axis bank business loan documents required, axis bank business loan calculator, small business banking axis bank, find every detail from loanyantra.com and avail loan at the fastest for your need. Axis Bank offers collateral-free EMI based loan to a business entity planning for the expansion and growth of the existing enterprise. Axis Bank SME Loan Interest Rate will be based on the assessment of business profile, financial assessment, past track record, loan amount as well as tenure. The loan is available for the highest value of ₹1,50,00,000 at affordable rates. The processing fees charged depends on multiple factors and ranges between 1.25% to 1.50% of the sanctioned loan amount. If the borrower fails to pay an instalment then he needs to pay an additional interest of 2% p.a. However, foreclosure details and charges are not specified. Axis bank business loan Documents Required are KYC documents like Voter ID, PAN card, passport, driving license, telephone bill, electricity bill, Form 60 For All Applicant/Co- applicant/Guarantor, Last 2 years Income Tax Return document, Bank statements for the last 6 months,
2-year financials including Profit & Loss (P&L) statement and balance sheet
Documents related to establishment of entity, identity and address proof documents. Know Axis Bank Business Loan Eligibility Criteria. The candidates with business registration under following categories are eligible to apply for the business loan-
- Proprietorship Firm
- Limited Liability Partnership
- Pvt Ltd. Companies
- Unlisted Public Ltd. Companies
- Trust & Societies (for educational institutes / Hospitals)
The applicant must be of age between 21 years to 65 years. The business vintage of minimum 3 years is essential along with annual turnover ranging from ₹30 lakhs to ₹10 crores.
Know about more details of each lender in the market and opt for the best option that fits you for business loan.
sme loans for new business, sme business loan, sme loans india, sme loans without collateral, loan for business without security. Know every detail from Loanyantra.com and choose the one that fits your requirement. Compare interest rates of each lender for SME loans for new business, know the eligibility criteria, calculate your EMI for sme business loans, and know the documentation process for sme loans India. Many lenders offer sme loans without collateral. Some of the banks among those who offer sme loans without collateral are SBI, Axis bank, Edelweiss, ICICI, HDFC, Fullerton. Loan for business without security can be availed upto 1 crore.