Know more about Business Loans
8th May 2020 0:55
₹ 0.40 lakh to ₹ 75 lakhs
12 to 60 months
Self-Employed Non-Professional Interest rate starting @
Self-Employed Doctors Interest rate starting
Self-Employed Professional Other than Doctors Interest rate starting
Coimbatore is one of the fastest-growing cities in India, with ample economic opportunities. If you're a woman entrepreneur looking to take advantage of the strong business scenario in Coimbatore, you can apply for a business loan under various government schemes
In a thriving city like Coimbatore, a business loan can help grow your venture at par with your competitors. Here’s how you can use a business loan at affordable interest rates for business operations.
With ample growth opportunities for business, Coimbatore is becoming a top investment hotspot. And so you can easily avail a reasonable business loan in Coimbatore at flexible terms to suit your needs. Tata Capital extends to you the most affordable business finances options as we offer competitive Business Loans interest rates in Coimbatore.
At these rates, you not only improve your business's financial health effortlessly, but you will be able to repay your EMIs with ease. This way, you don’t have to worry about burdening your company’s cash flow requirements. With the lowest business loan rates in Coimbatore, you can boost your business operations, buy new equipment, upgrade your machinery, or cover your everyday business expenses hassle-free.
So make the most of our flexible business loan offerings in Coimbatore and apply today!
Before you apply for a business loan, it is crucial to understand the Business Loans eligibility criteria set by the lender. This depends on various factors, including age, income, business performance, CIBIL score, etc.:
The age of the candidate must be between 25 to 65 years
A CIBIL score of 700 or above
An upward trend in the business turnover
The business should be profitable for at least three consecutive years
The balance sheet must be audited by a registered CA
EMI is the regular monthly payment you need to make towards any loan within a fixed tenure. Your EMI amount includes the principal amount and the interest payments you make to repay the loan within the specified period. Your EMI payments depend upon your principal amount, the loan tenure, and the interest rate on the loan. With Tata Capital, you can avail a business loan in Coimbatore at an extended tenure of 12-36 months.
To estimate your monthly EMI payments, you can use an online Business Loans EMI calculator .This online tool helps you understand your monthly obligations toward paying off the loan. Just input your loan details, including the principal amount, rate of interest, and loan tenure, to calculate your EMI. Accordingly, you will be able to manage your business finances while simultaneously paying the business loan EMI in Coimbatore with ease.
Visit our website and complete our online application form
Once you receive your loan eligibility, furnish the required documents to start the verification process.
Our experts will verify your business loan application and the documents; if all looks good, we will get in touch with you. This will be followed by the loan sanctioning process.
Finally, receive your funds directly to your bank account within a few days.
Get in touch with us in several ways to apply for business loan in Coimbatore:
Visit the branch
You can visit any of our country-wide branches and apply for a business loan. Our executives will help you through the process.
Just access our application form on our website and apply by filling in a few details.
Enjoy utmost convenience and apply for a loan with the help of our loan processing virtual assistant.
On the phone
Now, we’re just a phone call away! Simple connect with us at 1860 267 6060 and apply for a loan today.
Thinking of expanding your business? Want to take your business to new heights? From expanding your operations to upgrading your equipment, Tata Capital has got your back! Let Tata Capital business loans fuel your entrepreneurial spirits and help turn your business dreams into reality!
A business loan is an unsecured form of credit designed to fund the various capital needs of a business. Using different types of business loans, companies can scale new heights with increased manpower, advanced equipment, and faster turnaround time.
Here’s why our Business Loan is the perfect match for you:
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 –
Private limited companies
Closely-held public limited companies
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 –
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.
You can get a business loan from the lending institution of your choice in a number of ways, depending upon your convenience and the options offered by your lender.
Visit a nearby branch
Apply online via the lender’s website
Talk on call with the lender’s relationship managers
Send an email to your lender’s customer support mail address
Use the lender’s 24x7 virtual assistant feature
Yes, just as your CIBIL score has a say in your business loan approval, your repayment of the business loan will affect your future credit score. Timely payment of loan EMIs will pose you as a low-risk borrower in the eyes of future lenders and hence, will enhance your CIBIL score.
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.
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