Business loan providers in pune
Mahima Consultancy Services is Business loan providers in Pune.Business Loans are collateral-free Loans for companies, professionals or self-employed individuals. These Loans are advanced to meet the various Financial needs of Businesses – including working capital, Business expansion, financing projects or starting new lines of Business. Every Business needs external finance to help fund their growth and sustain market fluctuations.
Business Loans are granted based on the Financial strength of the individual or Business. Financial Institutions run credit checks on the applicant to determine the Financial stability, before deciding on Loan amounts and rate of interest.
Depending on the need of the Business, Loans can range from as low as INR 50,000 to as much as INR 300 crores for large Business houses.
We offer our clients the flexibility to choose from a range of Financial Institutions, thus helping them get the best bargain.
Business Loan FAQ
Q. What is Unsecured Business Loan ?
A. The word Unsecured Business Loan means when a self-employed person apply for a loan based on his income not providing any kind of security against the loan.
Q. What are the time line to process a loan application ?
A. It takes 7 working days once documentations are completed
Q. Is it possible to apply jointly with spouse or other blood relative ?
A. No in unsecured loan generally banks don’t allow joint application..
Q. What security do I have to furnish ?
A. No need of giving any security apart from security cheques.
Q. What are the processing fees charged by the bank ?
A. Processing fee in business loan varies bank to bank, normally it’s start from 2.00% to 3.00% of loan amount.
Q. What is EMI ?
A. EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. EMI is based on the loan amount, rate of interest and the repayment period.
Q. How much is the loan tenure ?
A. In business loan bank do offer loan for 1 year to 3 year.
Q. Can I prepay the loan? Are there any penalties ?
A. Surly prepayment can be done after 6 months from the date of loan taken & bank will charge 3.00% to 4.00% penalty. Part-payment is not allowed in business loan.
Q. What is the benefit of taking business loan ?
A. Taking a business loan fulfills your urgent requirement of working capital in business.