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Business Loan offerings and advantages in Kanpur

Benefit from rapid industrialisation
Kanpur has seen some tremendous growth in the last few years. Especially after the economic liberalisation made India a service and market-oriented economy. You can avail of a business loan in Kanpur from Tata Capital at affordable interest rates and flexible tenures to make the most of the city's budding startup culture.

Expand your business
A business loan in Kanpur can fund your business expansion and accelerate growth. You can invest in a new factory, office building, upgrade machinery, boost promotion, and a lot more.

No collateral needed
If you meet the eligibility criteria, you can take a business loan without pledging your business assets as collateral or security.

  • Loan Amount

    ₹ 0.40 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

Loan duration

12 Months 72 Months

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

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    Special Scheme for Women Entrepreneurs

    As an increasing number of women become a part of the start-up boom in India, the shortage of finance should not stop them from achieving their dreams. To help them run a successful business, various government schemes offer finance to women entrepreneurs in Kanpur

  • Annapurna Scheme

    For women entrepreneurs in the food catering business in Kanpur, the Annapurna Scheme offers affordable funds to finance their working capital needs. You can get a loan of up to Rs. 50,000 to buy utensils, a working table, equipment, and more.

  • Synd Mahila Shakti Scheme

    Synd Mahila Shakti scheme offers convenient finance to women entrepreneurs who are small business owners, self-employed, or retail traders. Along with a maximum loan amount of Rs. 5 crores for business expansion needs, you can also get a free credit card for higher financial freedom.

    Purpose of Business Loans

    Being the commercial capital of Uttar Pradesh, Kanpur boasts of excellent business opportunities in various industries, including textile, steel furniture, leather, and more. So if you have a business in Kanpur, a loan can help you meet your immediate financial needs with ease.

  • Fulfill working capital needs

    To ensure the smooth functioning of your small business, you will need a regular supply of funds to need various everyday expenses such as utility bills, rent, salaries, inventory, and more. Moreover, a longer sales cycle and increasing market demand call for additional capital needs. Now, you can manage all these expenses and much more with a business loan for working capital needs.

  • Manage machinery and equipment

    Purchasing machinery requires a sizeable investment, while unplanned repair expenses or obsolete equipment can add to your financial burden. With a business loan from Tata capital, you can secure an affordable loan to purchase, repair, or upgrade machinery and stay relevant in this competitive market.

  • Improve your marketing strategy

    Marketing plays a crucial role in boosting your brand awareness and attracting more customers. If you want to take your business to new markets, applying for a business loan can help finance your marketing needs and ensure higher business growth.

What are Interest Rates for Business Loans in Kanpur?

Kanpur has recorded some of the fastest growth in recent years. As a result, finding a competitive business loan in Kanpur has become a lot easier.

If you are planning to start a business in Kanpur or are already owning one, Tata Capital can help you scale it. When you take a loan from us, you don't have to worry about hefty interest rate. We offer highly competitive Business Loans interest rates in Kanpur, starting at just 19%! However, the final interest rate will depend directly on your age, business turnover, credit score, profitability, business vintage, financials, and ongoing loans (if any).

We not only offer the lowest business loan rates in Kanpur to eligible borrowers, but also flexible loan tenures. So, why wait? 

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

At Tata Capital, we use the following Business Loans eligibility criteria:

  • You should be aged between 25 to 65 years

  • Business credit score must be 700 or more

  • Your business must be profitable for at least 3 successive financial years

  • The business turnover must display an upward trend

  • Your balance sheet be audited by a registered Chartered Accountant (CA)

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

  • Last six months’ company bank statements

  • Last two years' Income Tax Returns

  • Last two years balance sheet and Profit & Loss accounts

  • KYC documents of the company

  • KYC documents of the business owners

  • A report with detailed information about how the candidate will utilise the Business Loan

  • Photo identity proof (Aadhar card/ Driving license/ Voter ID/ Passport)

  • Bank statements

  • Business proof

How to apply for a Business Loan online in Kanpur?

    1

    Fill out the application form online. You will need to provide some basic details

    2

    Next, you need to furnish all the essential document proofs to proceed with the loan offer

    3

    We will take some time to verify the details and documents you have provided. You may have to appear for a personal interview.

    4

    Once you're verified, we will approve the application and send you a sanction letter.

    5

    At last, we will disburse the loan amount directly into your bank account.

    Apply Now

Other Ways to Apply for a Business Loan in Kanpur

Besides the online application, you can also apply for business loan in Kanpur in the following ways:

  • Apply through the phone
    Give us a call at 1860 267 6060, and our executives will walk you through the application process.

  • Visit the nearest branch
    Directly visit a Tata Capital branch near you and fill out the application form offline.

  • Seek virtual assistance
    Use our loan processing virtual assistant to apply for a business loan.

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Know more about Business Loans

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!

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FAQs on Business Loan in Kanpur

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 ₹ 90,00,000
  • We seek minimum documentation
  • We give you quick online approval once you share the minimum documents we need

What the mode of repayment?

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

Who can opt for a business loan in Kanpur?

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 

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 is the minimum CIBIL score to get a business loan in Kanpur?

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. 

What is the maximum tenure for a business loan?

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. 

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. 

What can business loans be availed for?

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. 

Can I get a business loan without any collateral?

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

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

Will a business loan affect my credit?

    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. 

How does a business loan affect taxes?

    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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