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Business Loan offerings and advantages in Visakhapatnam

Multipurpose loans
You can secure a business loan in Visakhapatnam and use it to grow your business in all respects. This includes buying machinery, hiring staff or even expanding your venture.

Relaxed eligibility requirements
Securing a business loan is as easy as it gets, thanks to the relaxed eligibility requirements at Tata Capital.

Higher loan amounts
At Tata Capital, we help you secure business finance for your business needs no matter how large or small they are. You can easily get loan amounts of up to 90 lakhs without pledging collateral.

  • 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

Loan amount

₹
₹75,000 ₹35,00,000

Loan duration

1 Years 6 Years

Loan duration

12 Months 72 Months

Rate of interest

%
10% p.a 19% p.a

Monthly EMI

  • Total Amount Payable

    0*

  • Total Interest Payable

    0*

Total Amount Payable

Total Interest Payable

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    Special Scheme for Women Entrepreneurs

    Looking to start your own business? Here are the various government loan schemes to help women entrepreneurs start their new ventures

  • Orient Mahila Vikas Yojna

    Under the Orient Mahila Vikas Yojna, women entrepreneurs with at least 51% of ownership in a business can apply for an affordable loan. This scheme offers loans ranging from Rs. 10 lakhs to 25 lakhs to small businesses. What’s more, you can avail a collateral-free loan at concessional interest rates.

  • Udyogini Scheme

    The Udyogini scheme aims to provide financial support to women entrepreneurs in the rural areas of the country. You can apply for a loan amount of up to Rs. 3 lakhs and fulfil various financial needs of your business.

    Purpose of Business Loans

  • Start a new business

    With well-developed infrastructural facilities, running a business in Visakhapatnam is highly profitable. And all you need to run a successful business in this city is a strong business idea and sufficient capital backing. You can avail a quick business loan from Tata Capital and watch your business grow.

  • Purchase inventory

    No matter which industry you operate in, you always need adequate availability of inventory, especially during the peak season. A business loan helps you manage your inventory needs with ease.

  • Improve business cash flow

    Meeting business cash flow needs can be a challenge for small businesses. So when cash flow issues stand in the way of your business objectives, a business loan can help introduce enough funds into the operations for smooth functioning.

What are Interest Rates for Business Loans in Visakhapatnam?

Some factors that determine your Business Loans interest rates in Visakhapatnam include your financials, credit score, business plan, profitability, cash flow, annual turnover, and more. In fact, having a high credit score can help you get a lower interest rate since it reflects a better loan repayment ability on your end. This, in turn, lowers the amount you spend on your loan EMIs too.

If you are searching for a business loan in Visakhapatnam at a low interest rate, your search ends with Tata Capital. We offer business loans at an affordable interest rate of 19% and even make the EMIs convenient for you with our flexible repayment plans.

So, what are you waiting for? Enjoy the lowest business loan rates in Visakhapatnam with Tata Capital and set up your business smoothly.

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

The Business Loans eligibility criteria at Tata Capital are as follows

  • You should be between 25-65 years old.
  • You should have a profitable business for over three consecutive years.
  • Your business should have a positive turnover.
  • Your balance sheet should be audited by a Chartered Accountant.

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

  • A photo identity proof

  • Business Proof

  • Income Proof

  • Bank Statements

  • KYC Documents

How to apply for a Business Loan online in Visakhapatnam?

    1

    Click on the ‘Apply Now’ button on our official page to go to the business loan application portal.

    2

    Fill out the online form and make sure you enter the right details. We will verify these details and send you a loan offer accordingly.

    3

    Upload a copy of your documents on the portal for verification.

    4

    Once we verify your documents, we find everything is in order, we sanction the loan.

    5

    Lastly, we disburse the funds straight to your account.

    Apply Now

Other Ways to Apply for a Business Loan in Visakhapatnam

You can apply for business loan in Visakhapatnam with Tata Capital in the following ways too.

  • Via phone
    Give us a call on our customer care number at 18602676060. Our customer care executive will get in touch with you.

  • Virtual assistant
    Use help from our online virtual assistant fill out your online business loan application.

  • Offline
    Head to our branch and complete the business loan application formalities offline. Our on-site lending experts will guide you through the entire process.

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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 Visakhapatnam

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 Visakhapatnam?

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 Visakhapatnam?

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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