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Business Loan offerings and advantages in Lucknow

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%

Business Loan EMI Calculator

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₹75,000 ₹35,00,000

Loan duration

1 Years 6 Years

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12 Months 72 Months

Rate of interest

%
10% p.a 19% p.a

Monthly EMI

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    Special Scheme for Women Entrepreneurs

    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

  • Pradhan Mantri Rozgar Yojna

    The Pradhan Mantri Rozgar Yojna scheme offers flexible financial assistance to women entrepreneurs from all industries and services to fulfil their dream of owning a business. With an aim to create self-employment opportunities for women in the country. If you wish to establish an industry-based start-up, you can avail a maximum loan amount of Rs. 5 lakhs for capital requirements.

  • Shakti Scheme

    The Shakti Scheme offers financial support for women entrepreneurs in various sectors, including retail, trade, education, agriculture, manufacturing, and more. While the maximum loan amount can vary depending on the industry, you can secure a loan of up to Rs. 5 lakhs with no processing fee and a rebate of 0.50%.

    Purpose of Business Loans

    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.

  • Purchase raw material

    If you have a manufacturing business in Lucknow, you need a regular supply of raw material to keep the unit running at full production capacity. However, it can lead to sizeable investment, especially during the peak season when the demand is high. Here, a business loan can provide you with enough funds to purchase raw materials and keep up with the market demand without any worries.

  • Install new equipment

    Access to the latest equipment is crucial to ensure smooth business operations but calls for significant financial investment. With a business loan from Tata Capital, you can introduce new equipment and technology to your business at flexible interest rates!

  • Maintain cash flow

    As a small business, if you're unable to meet your business’ liquidity needs – such as overhead expenses, inventory, salary, and more – a business loan can help introduce additional funds to the business and ease your worries.

What are Interest Rates for Business Loans in Lucknow?

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.

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

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)

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

  • Your company’s bank statements for the last 6 months

  • Income tax returns for the last 2 years

  • Balance sheet and profit & loss accounts for the past 2 years

  • KYC documents of the company

  • KYC documents of the business owners

  • A report with detailed information about how your will utilise the loan amount

  • Photo identity proof (Submit any one of these: Aadhar card, driving licence, voter id, passport)

  • Your bank statements

  • Business proof

How to apply for a Business Loan online in Lucknow?

    1

    Online Application

    Fill up the form and input your personal details.

    2

    Document Submission

    Upload the required documents and hit ‘Submit’

    3

    Verification

    We will verify your business loan application and documents, and call you for a personal discussion regarding your application.

    4

    Post Approval

    Once your application is approved, the loan is sanctioned.

    5

    Disbursal

    And you’re done. You will receive the required business loan amount directly in your bank account.

    Apply Now

Other Ways to Apply for a Business Loan in Lucknow

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.

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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 Lucknow

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 Lucknow?

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 Lucknow?

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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