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Business Loans in Kolkata

Special Schemes for Women Entrepreneurs

The central and state government of India offers several excellent business loan schemes for women entrepreneurs to help them achieve their dream of owning a business.

 

          1. Bhartiya Mahila Bank Business Loan

 

Under the Bhartiya Mahila Bank business loan, women entrepreneurs in the manufacturing sector can opt for a loan of up to Rs. 20 crores to fulfil their working capital or business expansion needs.



          2. Cent Kalyani Scheme

 

Women looking to start their own business venture or expand their current operations can seek financial assistance under the Cent Kalyani scheme. With competitive interest rates, you can avail a short-term loan of up to Rs. 1 crore.



          3. Mudra Loan for women

 

Mudra Yojna is an excellent loan scheme under the Pradhan Mantri Mudra Yojna, offering financial assistance to women entrepreneurs across India. Whether you want to start your new business or expand your existing one, you can avail a loan of up to Rs. 10 lakhs under this scheme.



Purpose of Business Loans

Looking to open a business in one of the largest metropolitans in India? While Kolkata offers exciting business opportunities, running an enterprise requires regular availability of funds for smoother operations. A business loan can help you with the following-

 

          1. Start your new venture

 

With a flourishing retail industry in food, jewellery, leather, and textile, Kolkata is definitely the best place to start your new business. Whatever your big business idea is, turn it into reality with an affordable business loan from Tata Capital.



          2. Update business equipment

 

Running your business at full production capacity heavily relies on the availability of the latest machinery and equipment. But instantly upgrading the machinery might not always be possible as it is a costly affair. Get rid of any obsolete business equipment and boost your production with a business loan from Tata Capital.

Know more about our offering

Key Features

Loan Amount

₹5,00,000 - ₹75,00,000

Loan Tenure

12 - 36 months

Interest rate starting at

19%

Business Loans in Kolkata Advantages

Lucrative Business Opportunities

With enough finances available at your disposal, you can take advantage of the many business and growth prospects that Kolkata has to offer. From manufacturing to export and import, no matter what your business is, you can open your world to national and global business opportunities and thrive in the highly competitive market with the right kind of business loan in Kolkata.

Quick availability of funds

Since Kolkata is the primary business and financial hub of Eastern India, there is an increasing need for affordable loans to facilitate the growth of several small and medium businesses. This has increased the amount of funds available at your disposal. Tata Capital ensures swift loan processing and instant loan disbursal so that you receive your funds in no time!

Lucrative Business Opportunities

With enough finances available at your disposal, you can take advantage of the many business and growth prospects that Kolkata has to offer. From manufacturing to export and import, no matter what your business is, you can open your world to national and global business opportunities and thrive in the highly competitive market with the right kind of business loan in Kolkata.

Quick availability of funds

Since Kolkata is the primary business and financial hub of Eastern India, there is an increasing need for affordable loans to facilitate the growth of several small and medium businesses. This has increased the amount of funds available at your disposal. Tata Capital ensures swift loan processing and instant loan disbursal so that you receive your funds in no time!

What are Interest Rates for Business Loans in Kolkata?

Being a major commercial centre, you can easily avail a business loan in Kolkata at competitive interest rates. This is especially true when you apply for business finance with Tata Capital; we offer you flexible terms and best interest rates so that you can watch your business grow.

Your Business Loans interest rates in Kolkata are decided based on your loan eligibility. So, it becomes imperative to understand the loan eligibility criteria before you apply for a loan. At Tata Capital, you can fetch the lowest business loan rates in Kolkata and meet all your unique business obligations hassle-free.

What’s more? Our competitive interest rates will make your EMI payments much more affordable as a lower rate of interest equals lower EMI payments over a tenure. This way, you can repay the loan comfortably in line with your other business expenses without any worries.

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

It is crucial to determine the Business Loans eligibility  criteria set by the lender before you apply for a loan. This depends on various factors, including age, income, business performance, CIBIL score, etc.

  • Applicant’s age: 25 to 65 years

  • The business should be profitable for at least three consecutive years

  • A CIBIL score of 700 or above

  • An upward trend in the business turnover

  • The balance sheet must be audited by a registered CA

What are the documents required for getting Business Loans in Kolkata?

 Applying for a business loan is quick and easy. You need to submit just a few documents-

  • Company bank statements (last six months)

  • Income tax returns (last two years)

  • KYC documents of the company

  • Balance sheet and Profit and Loss Account (last six months)

  • A detailed business plan

  • KYC documents of the owner

  • Business proof

  • ID proof

  • Bank statements

How to calculate EMI for Business Loans Online?

EMI stands for Equated Monthly Instalments, which is the fixed payment you have to make against your loan to fully repay it within the fixed tenure. Here, calculating your EMI before applying for a business loan in Kolkata is a wise decision. And you can do it easily using an online EMI calculator tool which is available on our website for free.

Your EMI payments depend upon the principal amount, the rate of interest, and the loan repayment tenure. To get an estimate, you need to enter the tentative principal amount you wish to borrow, your preferred loan tenure, and the potential interest rate in the online Business Loans EMI calculator.  It will show you the tentative EMI amount you'll have to pay. You can adjust the amounts and decide on a principal amount and loan tenure you're comfortable with.

HOW TO APPLY FOR A BUSINESS LOANS ONLINE IN KOLKATA?

Other ways to apply for Business Loans in Kolkata

 Get in touch with us and apply for business loan in Kolkata through our offline process in several ways-

  • On phone

Reaching us is now easier than ever. Just give us a call on 1860 267 6060, and our executives will walk you through the application process.

  • Online

Apply via our simple online application process from the comfort of your home. Just visit our website and fill in the digital form to get started.

  • Via our virtual assistant

You can even apply for an affordable business loan with the support of our virtual assistance.

  • Visit our branch

Another convenient way to apply for a loan is to visit any of our various country-wide branches, and we will be happy to guide you through the entire process.

FAQ

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:

  • 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 ₹ 75,00,000
  • 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

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

To avail a business loan with Tata Capital, simply apply for a business loan online or call on 1860-267-6060. You can also mail us at contactus@tatacapital.com or visit any of our branches.                     

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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