Why Tata Capital Business Loan?

Here’s why our Business Loan is the perfect match for you: We don't ask for any security or guarantor for our Business Loan You get the flexibility of choosing from business loan repayment options For our existing customers, we regularly provide exclusive pre-approved offers on business loans Convenient Online access to all details regarding your business loan. We offer unsecured business loans up to ₹ 9,000,000 We seek minimum documentation We give you quick online approval once you share the minimum documents we need

How does a business loan work?

A typical structure of a business loan involves a lending institution extending capital to a business owner, for which interest is charged. The business owner must pay back the business loan amount along with the applicable interest, in the form of Equal Monthly Instalments (EMIs), over a predetermined period of time known as loan tenure. Three core components make up a business loan – Principal amount – Also known as the loan amount, the principal is the sum of money a business owner borrows from a lending institution. Rate of interest – The rate of interest is the cost of borrowing the business loan, generally expressed as a percentage of the principal amount. This is the amount that you need to pay in addition to the principal loan amount. Loan Tenure – The tenure is the period for which the business loan is borrowed. Business loan tenure is calculated from the date of first disbursement till the date of payment of the final disbursement.

What are the different types of business loans?

Lending institutions offer different types of business loans, designed to meet specific needs. They are as follows – Machinery loans – Machinery loans are designed exclusively to meet the expansion needs of businesses via the purchase of advanced machinery and equipment. MSME/SME loans – Designed to encourage the growth of small and medium-sized business enterprises, MSME/SME loans is a credit facility that can be availed for purchasing equipment, meeting operational expenses, and upgrading infrastructure. Business loans for women – These loans are extended to women business owners to help them expand their business and push them towards financial independence.

How much EMI do I need to pay for a business loan?

The amount of business loan EMI that you will be required to pay towards the repayment of your business loan will largely depend upon three factors, as given below – Principal loan amount – The higher the principal amount, the higher will be the EMI amount you will need to pay. Rate of Interest – The higher the rate of interest, the higher will be the EMI amount you will need to pay. Loan Tenure – The EMI is inversely related to the loan tenure. The shorter the loan tenure, the higher will be the EMI amount you will need to pay. For a quick and accurate assessment of your business loan EMIs, use a handy online tool such as the business loan EMI calculator.

How to get a business loan approved for an online business?

You can take an online business loan for your online retail store or e-commerce website. You must fulfil the following criteria for swift online business loan approval: CIBIL score should be above 700 Your business must be profitable for three consequent financial years Your turnover must show an upward trend A CA should audit your balance sheet

Apply for Business Loan in Chennai starting from @12%*p.a.| Tata Capital

Name: Business Loan in Chennai
Address: Chennai, 600 001, IN
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Business Loan offerings and advantages in Chennai

Easy to meet eligibility criteria
When you are just starting a business in Chennai, the last thing you want is struggle to secure financing. This is why we make it easier for you to secure a business loan at Tata Capital with our relaxed eligibility requirements.

Minimal documentation requirements
A Tata Capital business loan requires minimal paperwork. This makes the loan approval process a lot smoother and quicker for you.

Attractive interest rates
If you’re getting a business loan in Chennai, save your funds by opting for one with a low interest rate. At Tata Capital, we offer business loans at the lowest interest rates in the market.

Flexible EMI plans
When you get a loan with Tata Capital, you have complete control over your loan repayments with flexible EMI plans.

Loan Amount

₹ 1 lakh to ₹ 90 lakhs

Loan Tenure

12 to 60 months

Self-Employed Non-Professional Interest rate starting @

15%-25%

Self-Employed Doctors Interest rate starting

@ 12.00%-15.00%

Self-Employed Professional Other than Doctors Interest rate starting

@ 13.00%-17.50%

Business Loan EMI Calculator

Loan amount

₹

₹75,000 ₹35,00,000

Loan duration

1 Years 6 Years

Rate of interest

10% p.a 19% p.a

Monthly EMI

Total Amount Payable

0*
Total Interest Payable

0*

Total Amount Payable

Total Interest Payable

Apply Now

Special Scheme for Women Entrepreneurs

With an increasing number of women donning the role of entrepreneurs, several government schemes are available in Chennai to assist women entrepreneurs in their initiatives

Annapurna Scheme

If you have a food catering business in Chennai, then you can avail an affordable loan under the Annapurna scheme. You can get a loan up to Rs. 50,000 to meet your Working capital needs with a loan repayment tenure of 36 months.

Trade-Related Entrepreneurship Assistance and Development (TREAD) Scheme

Under this scheme, women entrepreneurs can get credit facilities to fund their business projects and receive specific business training. The government offers a grant of up to 30% of the total project cost, and the remaining is financed by a lending institution as a loan.

Purpose of Business Loans

With the tag of a Special Economic Zone, government support, and excellent infrastructure, Chennai is the dream city to establish and run your business. But running a business requires sizeable funds. Here, a business loan can help.

Maintain cash flow

Maintaining business liquidity for smooth operations can be a challenge for small businesses. But not with Tata Capital! With a short-term business loan, you can fund regular operational costs and help your business stay afloat during difficult times.

Manage seasonal finance needs

For cyclical businesses – whether new or established – managing cash flow during peak season can be a big concern. So, you can maintain business cash flow, stock up on inventory, and boost your sales during the peak season with an affordable business loan from Tata Capital.

Launch a new product

With a business loan, you can arrange enough funds to launch a new product – from research to execution and capture new markets for maximum business growth.

What are Interest Rates for Business Loans in Chennai?

When you get a business loan in Chennai, one of your main considerations should be the business loan interest rate. Why? Because business loans amounts are usually on the higher end, and when you add interest to it, the total amount payable becomes much larger. Hence, if you want to save your finances, the easiest way to do it is to opt for a lender offering affordable Business Loans interest rates in Chennai. This way, you not only save on the total loan interest, but you also make the loan EMIs more manageable.

If you’re looking for the lowest business loan interest rates in Chennai, your search stops at Tata Capital. So, apply for a loan with us in Chennai today.

What are the eligibility criteria for a Business Loans in Chennai?

Tata Capital offers business loans to both salaried individuals and business owners, with distinct eligibility conditions. Make sure you meet these criteria when applying for a business loan:

Minimum 2 years of business continuity with regular profits
A healthy monthly bank balance of Rs. 5,000 or more
Minimum CIBIL score of 675, showing repayment discipline
Applicant’s age must be 21 years at the time of application and not exceed 65 years at loan maturity

Must have a stable job with verifiable income documents
A CIBIL score of 675 or above is needed to qualify
Age must be between 21 and 65 years at the end of loan tenure
Income proof and job continuity are key approval factors

What are the documents required for getting Business Loan in Chennai?

At Tata Capital, you only need to submit a handful of documents to apply for a business loan online. These include-

KYC Documents–ID proof and address proof of the borrower (PAN Card, Voter ID Card, Passport, or Driving License)
Proof of business (Business Registration Certificate, GST Registration Certificate, Trade License, or a certified copy of the Partnership Deed Agreement or Sole Proprietorship Declaration)
Last two years’ Income Tax Returns and Computation of income
Audited financial statements with the Tax audit report for of the last two years
Profit and Loss Statement or balance sheet (duly audited by a CA) of the last two years
Current bank account statements for the last six months
GST statements for the last six months

How to apply for a Business Loan online in Chennai?

Visit the Tata Capital official website and click on the Apply now button. Doing this will direct you to the online loan application form.

Next, enter your details as prompted and submit the form. We will then verify your information to check if you meet all our eligibility requirements.

Once your details are verified, we will give you a loan offer based on your eligibility. When you accept the offer, you can proceed to upload the necessary documents. Note, we may also schedule a call with you during this process.

After verifying the paperwork, we sanction the loan.

Finally, we disburse your funds straight to your account.

Apply Now

Other Ways to Apply for a Business Loan in Chennai

You can apply for business loan in Chennai with Tata Capital in the following ways too:

Via call
Give a call on our customer care number at 18602676060, and request a callback.
Virtual assistant
Connect with our online virtual assistant and put in a business loan request.
Offline
Alternatively, visit our Chennai branch to apply for a business loan offline. Our seasoned lending experts will guide you through it.

Apply for a business loan with us today!

FAQs on Business Loan in Chennai

Here’s why our Business Loan is the perfect match for you:

We don't ask for any security or guarantor for our Business Loan
You get the flexibility of choosing from business loan repayment options
For our existing customers, we regularly provide exclusive pre-approved offers on business loans
Convenient Online access to all details regarding your business loan.
We offer unsecured business loans up to ₹ 9,000,000
We seek minimum documentation
We give you quick online approval once you share the minimum documents we need

You can repay through Post Dated Cheques, Electronic Clearance Service (ECS) or Direct Debit.

Business loans are available to both professionals and non-professionals that are self-employed. Business loans interest rates are highly competitive and are typically approved quickly. The following types of companies can secure business loans –

Sole proprietorship
Partnership firm
Private limited companies
Closely-held public limited companies
Societies
Trusts
Hospitals, nursing homes, diagnostic centres, pathological labs

A typical structure of a business loan involves a lending institution extending capital to a business owner, for which interest is charged. The business owner must pay back the business loan amount along with the applicable interest, in the form of Equal Monthly Instalments (EMIs), over a predetermined period of time known as loan tenure.

Three core components make up a business loan –

Principal amount – Also known as the loan amount, the principal is the sum of money a business owner borrows from a lending institution.
Rate of interest – The rate of interest is the cost of borrowing the business loan, generally expressed as a percentage of the principal amount. This is the amount that you need to pay in addition to the principal loan amount.
Loan Tenure – The tenure is the period for which the business loan is borrowed. Business loan tenure is calculated from the date of first disbursement till the date of payment of the final disbursement.

To avail a business loan, one must ideally have a CIBIL score of 700 or above. The same is true for both self-employed professionals such as doctors and engineers as well as self-employed non-professionals such as suppliers or manufacturers.

CIBIL or credit score plays a huge role in determining business loan eligibility. Since a company’s CIBIL score is its credit footprint, it enables lenders to know the timely repayment ability of the business loan applicant.

Business loans are typically short-term loans. Though business loan tenure may differ from lender to lender, most lending institutions extend business loans for a tenure ranging from 12 months to 36 months.

Lending institutions offer different types of business loans, designed to meet specific needs. They are as follows –

Machinery loans – Machinery loans are designed exclusively to meet the expansion needs of businesses via the purchase of advanced machinery and equipment.
MSME/SME loans – Designed to encourage the growth of small and medium-sized business enterprises, MSME/SME loans is a credit facility that can be availed for purchasing equipment, meeting operational expenses, and upgrading infrastructure.
Business loans for women – These loans are extended to women business owners to help them expand their business and push them towards financial independence.

The amount of business loan EMI that you will be required to pay towards the repayment of your business loan will largely depend upon three factors, as given below –

Principal loan amount – The higher the principal amount, the higher will be the EMI amount you will need to pay.
Rate of Interest – The higher the rate of interest, the higher will be the EMI amount you will need to pay.
Loan Tenure – The EMI is inversely related to the loan tenure. The shorter the loan tenure, the higher will be the EMI amount you will need to pay.

For a quick and accurate assessment of your business loan EMIs, use a handy online tool such as the business loan EMI calculator.

Business loans can be availed for a variety of reasons. You can use different types of business loans to purchase infrastructure for expanding operations, to increase production via the purchase of new and advanced machinery, to purchase and store inventory in advance of seasonal sales, to build a workforce of skilled employees, and to increase working capital.

Yes, you can get a business loan without any collateral or security.

You can take an online business loan for your online retail store or e-commerce website. You must fulfil the following criteria for swift online business loan approval:

CIBIL score should be above 700
Your business must be profitable for three consequent financial years
Your turnover must show an upward trend
A CA should audit your balance sheet

Business owners have business and personal credit.

Loans for sole proprietorship and partnership businesses are guaranteed by an individual. So, the loan is reflected in your personal CIBIL report. However, if your company’s structure is LLC, then the business loan affects only the business’ CIBIL score.

Any interest levied on a business loan is exempt from taxation. This is because the interest paid is considered to be a business expense and not revenue. Registering as an MSME can also help you avail of business loan tax benefits on excise and other charges.

However, the principal amount is not tax-deductible.