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 enter the world of entrepreneurship, the government has introduced special loan schemes for women entrepreneurs to help them achieve their dreams
Running a successful business in the financial capital of the country always needs adequate availability of funds. A Business Loan helps you obtain sizeable funding for various business needs
The interest is the amount you need to pay to your lender over the loan amount during EMI repayment. Now, the interest you pay on the business loan is determined by the Business Loans interest rate. And one factor that influences it is your loan eligibility. Meeting your lender’s prescribed eligibility criteria makes it easy to qualify for a lower interest rate. So, if you want to spend a lower amount on your Business Loans in Mumbai, choose a lender appropriately.
At Tata Capital, we offer the lowest Business Loans rates in Mumbai. This means lower loan EMIs, ergo easy EMI payments for you. So, what are you waiting for? Get a loan with us and enjoy some of the most affordable Business Loans interest rates in Mumbai!
The Business Loans eligibility criteria at Tata Capital are as follows:
EMIs or Equated Monthly Instalments are your monthly loan repayments to close the loan. The total EMI amount depends on three factors- the loan amount, the tenure and the interest rate. To calculate the EMIs for your Business Loans in Mumbai, you can use our Business Loans EMI calculator on our website.
All you need to do is enter details like the principal amount, loan term and the interest rate in the appropriate fields. The screen then displays the EMIs payable on your Business Loans.
Calculating your EMIs this way allows you to gauge how much you will be spending on EMI repayments and helps you prepare accordingly. Hence, you must use it to calculate your Business Loans EMIs in Mumbai.
Click on the “Apply Now” button on our website.
Enter your personal details in the appropriate fields, and press submit. These details are verified to ensure you fulfil our loan eligibility criteria.
Next, we well provide you with a loan offer depending on your eligibility. On accepting our offer, you can upload the required documents for verification.
Once we verify the paperwork, we send an e-sanction letter mentioning the sanctioned loan amount.
You can download this from our online portal for future reference.
Lastly, we disburse your funds straight to your account.
Request a call back from our customer care number- 18602676060.
Get in touch with our virtual assistant any time.
Visit our Mumbai branch to complete the offline application process and connect with our seasoned lending experts.
Apply for a business loan with us today!
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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