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Business Loan in Balasore
Balasore, a city known for its rich history and growing industrial sector, presents abundant opportunities for ambitious entrepreneurs and expanding businesses. Securing timely financial support is key to capitalising on these prospects. Shriram Finance offers business loans in Balasore, with attractive interest rates starting from 10%* p.a. and loan amounts beginning at Rs1 lakh*, empowering you to achieve your business goals. Businesses in Balasore often encounter specific challenges, such as the need for modernisation or adapting to evolving market demands. Shriram Finance addresses these needs by offering both secured and unsecured business loan options in Balasore. With flexible repayment terms extending up to 84 months and a straightforward application process, our loans are designed to cater to the diverse requirements of Balasore's business community. Our transparent application process allows you to easily monitor your loan status, enabling swift disbursement so you can concentrate on growing your business. Whether you're involved in manufacturing, trading, or providing services, Shriram Finance is committed to supporting your ambitions with reliable and accessible financial solutions.
Business Loan Types in Balasore
Businesses in Balasore have diverse needs, and so do their financing options. Explore the different types of business loans available to help your venture thrive:
Features and Benefits of Business Loans in Balasore
Learn about the key features and benefits offered by business loans in Shriram Finance:
Online EMI Calculator
Loans starting from Rs. 1 lakh*
Secured & Unsecured Loans
Quick Loan & Approvals
Flexible Loan Tenure
Hassle-free Online Process
Business Loan Interest Rates and Charges in Balasore
Business loans are available through Shriram Finance at competitive interest rates, starting as low as 10%* p.a. A comprehensive breakdown of interest rates, fees, and other charges can be found below:
| Type of Fees | Applicable Charges |
|---|---|
| Interest Rate | Customised interest rates starting from 10%* p.a. |
| Processing Fees | Up to 5%* |
| Late Payment Fees | 36%* p.a on the Overdue Amount |
| Foreclosure Charges | Up to 4%* |
How to Use the Business Loan EMI Calculator
STEP 01
Required loan amount
STEP 02
Interest rate
Min 10%
Max 30%
STEP 03
Min 12 months
Max 84 months
Loan Summary
Loan
Loan Amount
âı 1,00,000
Interest Payable
âı 39,450
Monthly EMI
âı 1,660
Eligibility and Documentation Criteria for Business Loans in Balasore
Eligibility and Documentation Criteria for Business Loans in Balasore
Who can apply?- Partnership firms
- Proprietorship firms
- Pvt ltd companies
- Public Ltd companies
- LLPs
Eligibility Criteria:- Age: 21 years to 65 years (Age at loan maturity should not exceed 65 years)
- Occupation: Self-employed individuals, business owners, or proprietors with a minimum of 3 years of business experience.
Documents Required:- Bank statement (6 months)
- Business registration proof
- Business PAN
- Applicant PAN
- Selfie Photograph
Step-by-Step Application Process for Business Loans in Balasore
Applying for Shriram Business Loan is a 5-step process:
Step 1
Register using your mobile numberStep 2
Enter loan detailsStep 3
Enter business detailsStep 4
Receive a verification call from usStep 5
Get your loan disbursed
Unsecured Business Loans in Balasore
Shriram Finance acknowledges the importance of readily accessible financial support and, therefore, offers unsecured business loans starting from Rs1 lakh* to support businesses in Balasore without necessitating collateral. Our unsecured loans feature flexible repayment options and an easy-to-navigate online application process. To qualify, businesses should have a minimum of 3 years in operation. Approvals are expedited due to the absence of collateral prerequisites, simplifying the process for businesses to acquire the required funds. Whether your objective is to grow your business or streamline your daily operations, Shriram Finance ensures you receive the essential financial support without the need of pledging assets.
Our Business Loan Branches in Balasore
Find a Shriram Finance business loan branch near you in Balasore. We're here to help you access the financing your business needs.
Locate Us
Business Loan Customer Care in Balasore
If you require any assistance with a business loan in Balasore, Shriram Finance offers dedicated customer support. Please do not hesitate to reach out to us by phone or visit our nearest branch for personalised assistance.
Business Loan Status in Balasore
Get real-time updates on your Balasore personal loan by entering your reference number on our website. Our customer care team is also available to assist you.
Business Loans in Major Cities
Business Loan FAQs
Who is eligible for a business loan in Balasore?
Shriram Finance offers business loans in Balasore to a variety of businesses: partnerships, proprietorships, private and public limited companies, and LLPs. Eligibility requires applicants to be between 21 years to 65 years old (the loan term cannot extend past age65 years) and, for self-employed individuals, business owners, and proprietors, to have at least 3 years of business experience.
What is the interest rate on a business loan in Balasore?
Shriram Finance offers competitive interest rates commencing at 10%* p.a. Refer to the detailed information provided above for additional applicable charges.
How much loan can I get for my business in Balasore?
Loan amounts start at Rs1 lakh*, with the maximum amount varying depending on your business needs and eligibility.
Can I apply for a business loan in Balasore?
Yes, you can conveniently apply online or visit a Shriram Finance branch in Balasore for dedicated support.
What is the maximum loan tenure for a business loan in Balasore?
For unsecured loans, repayment tenures range from 12 to 48 months. Secured loans offer more extended flexibility, spanning from 12 â 84 months.
What is the processing time for a business loan in Balasore?
Loan approvals are typically processed within 2- 3 business days, conditional on eligibility and complete documentation.
What is the eligibility for a startup business loan in Balasore?
Eligibility criteria for startup business loans generally align with those for standard business loans.
What is the minimum interest rate for a business loan in Balasore?
Shriram Finance provides business loans at competitive interest rates, starting from 10%* p.a.
Disclaimer
The information provided in this guide is for educational purposes only and should not be considered financial advice. Always consult with a financial advisor before making investment decisions related to fixed deposits or any other financial products.