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
As more women are taking entrepreneurial roles in the business world, they need adequate availability of funds to keep up with the increasing competition. That is why the government offers several beneficial loan schemes for women
Planning to start a business in Kozhikode? Well, with a booming IT and transportation sector, you can run a profitable business backed by adequate finance. Here’s how you can use your business loan
Business loan interest rates heavily impact the amount you spend on your loan EMIs. This is because the higher the interest rate, the higher the interest, and consequently, the higher the EMIs. Hence, before getting a business loan in Kozhikode, you must ensure the lender offers you a low loan rate.
If you want to get the best loan offer, you must carefully consider different Business Loans interest rates in Kozhikode before selecting a lender. Doing this helps you make an informed choice. But if you want to skip the effort, you can apply for a business loan with Tata Capital right away. Why? Because we offer the lowest business loan rates in Kozhikode to make your business loan repayments convenient and help you save funds spent on interest.
The Business Loans eligibility criteria at Tata Capital are as follows
Loan EMIs or equated monthly instalments are the payments you make to your lender every month to pay off the entire loan. The amount you pay every month depends on three factors, namely the loan tenure, the loan amount and the interest rate. And many lenders offer business loan in Kozhikode where you can choose a loan EMI as per your requirements.
To choose a suitable loan EMI, you can rely on an online Business Loans EMI calculator and compute your potential EMIs accurately. Here, you need to enter your loan details like amount, tenure and interest rate, and the calculator automatically calculates the EMI based on the entered values. Now, you can change the loan tenure to arrive at a business loan EMI in Kozhikode you can comfortably afford every month. It’s that simple!
Locate the ‘Apply Now’ button on our official website and click on it to visit the online business loan application portal.
Enter your details as specified and submit them. We will review the details to check your eligibility and send you a loan offer based on it.
Next, you will need to upload a copy of your documents on the portal for verification. Keep in mind, we may contact you during this process.
We check you documents as soon as we receive them and sanction you loan upon successful verification.
After this, the funds are disbursed straight to your account.
You can apply for business loan in Kozhikode with Tata Capital in the following ways too.
Call our customer care number at 18602676060 and request a call back.
Connect with our online virtual assistant and request a business loan.
Visit our Kozhikode branch in person and do the offline business loan formalities with help from our lending experts.
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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