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Multi-purpose Loans
Tata Capital’s business loans are flexible. So, you can customise them as you need. Fund your working capital, update your machinery, take your business online or invest in new equipment and machinery with our multi-purpose business loans.
No Collateral Needed
With Tata Capital’s collateral-free loans, there is no need to risk your business assets on the line to secure financing.
Structured EMI Plans
Choose a flexible loan tenure from 12 to 36 months, and repay your funds comfortably. What’s more, you can decide your EMI amount as per your business cash flow.
Simple Documentation
Getting a loan from Tata Capital doesn’t require any cumbersome paperwork. Our loan application and approval process involve only basic documentation.
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%
If you're a woman entrepreneur with a solid business idea, here are a few government schemes to avail affordable finance for your business venture
Operating a thriving business in a commercial city like Lucknow requires you to have immediate availability of funds at all times. A business loan can provide you with ample funds for various purposes.
As several small businesses are coming up in Lucknow, numerous lenders and NBFCs in the city provide business loans in Lucknow. You can use them to arrange cash for your business, hire more workers, buy new equipment, expand your business, take your brand online, and many other purposes.
Business loan interest rates in Lucknow depend on several factors such as:
CIBIL score
Income
Business vintage and company tenure
Annual turnover
A high CIBIL score (preferably 700 and above) and a stable income increase the chances of your loan getting approved quickly. Your lender will also offer you lower interest rates.
Tata Capital offers you some of the lowest Business Loans interest rates in Lucknow, along with easy repayment options. Now, you can grow your business without worrying about the burden of repayment.
Here are the Business Loans eligibility criteria for Tata Capital:
Your age should be between 25 to 65 years
Your CIBIL score must be 700 or more
Your business should be profitable for at least three successive financial years
Your business turnover must display an upward trend
Your balance sheet be audited by a registered Chartered Accountant (CA)
The EMI that you will be required to pay towards the repayment of your business loan in Lucknow depends on:
Principal loan amount – This is the amount you will borrow. The higher the principal amount, the higher will be your EMI.
Rate of Interest – The EMI consists of both the interest and principal components. 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. So, the shorter your tenure, the higher will be your EMI amount.
To check your business loan EMI in Lucknow instantly, you can use a Business Loans EMI calculator .To use this handy tool, simply input the principal amount, rate of interest, and your loan tenure. The calculator will display the EMI amount you will have to pay each month, as well as the total interest.
You can reach out to us in various ways to apply for a business loan in Lucknow:
Visit our branch
Walk into one of our country-wide branches and our executives will guide you through the entire process.
Through the phone
Call us at 1860 267 6060 and speak to our representatives.
Through a virtual assistant
You can even apply for your business loan with the help of a loan processing virtual assistant.
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 –
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 –
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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