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Business Loan in Eluru
Eluru is a city in Andhra Pradesh known for its rich cultural heritage and vibrant local economy. It has a growing number of small and medium-sized enterprises. Shriram Finance is committed to supporting this growth by providing accessible financial solutions. A business loan in Eluru can be essential for businesses looking to expand or improve their operations. To facilitate business development, Shriram Finance offers various loan options with competitive interest rates starting from 10%* p.a.. Flexible repayment terms are also available, ensuring that businesses can manage their cash flow effectively. These loans can be used for various purposes, including purchasing equipment and covering operational costs. Recognising the need for quick financial support, Shriram Finance provides a straightforward Business Loan Application process. This allows businesses to access funds without unnecessary delays. Shriram Finance aims to be a trusted partner for businesses in Eluru, with loans starting from Rs.1 lakh*.
Business Loan Types in Eluru
Shriram Finance offers a variety of secured and unsecured business loan options in Eluru, designed to meet the diverse needs of local businesses. These include:
Features and Benefits of Business Loans in Eluru
For those in Eluru seeking financial assistance to grow their business, Shriram Finance is an excellent choice for a hassle-free business loan. Benefits include:
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 Eluru
Interest rates for Shriram Finance unsecured business loan options in Eluru begin at 12%*p.a For comprehensive details regarding interest rates and applicable fees, please refer to the information provided. Secured business loan interest rates start from 10%* p.a.
| 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 Loans 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
₹ 1,00,000
Interest Payable
₹ 39,450
Monthly EMI
₹ 1,660
Eligibility and Documentation Criteria for Business Loan in Eluru
Eligibility and Documentation Criteria for Business Loan in Eluru
Who Can Apply- Pvt Ltd companies
- Public Ltd companies
- LLPs
- Partnership firms
- Proprietorship firms
Eligibility Criteria- Occupation: Self-employed individuals, business owners, or proprietors with a minimum of 3 years of business experience.
- Age: 21 years to 65 years (Age at loan maturity should not exceed 65 years)
Documents Required- Selfie Photograph
- Bank statement (6 months)
- Business registration proof
- Business PAN
- Applicant PAN
Step-by-Step Application Process for Business Loans in Eluru
The process to apply for a business loan in Eluru with Shriram is straightforward and consists of 5 steps:
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 Eluru
Shriram Finance is dedicated to facilitating the growth of small and medium-sized enterprises through its unsecured business loan, which does not necessitate collateral. This financing option allows businesses to secure funds without having to pledge any assets. With Shriram Finance, businesses in Eluru can access an unsecured business loan to meet their financial needs. The unsecured business loans provided by Shriram Finance come with flexible repayment terms and competitive interest rates. The application process is designed to be straightforward and user-friendly. These loans offer various advantages, including no requirement for collateral, a quicker approval process, and favourable credit terms. To qualify for an unsecured business loan from Shriram Finance, businesses must have been operational for a minimum duration and provide the necessary documentation. Availability of unsecured business loans may vary based on the business location.
Our Business Loan Branches in Eluru
With Business Loan Branches in Eluru, Shriram Finance ensures convenience for customers looking to apply and manage their loans effectively:
Locate Us
Business Loan Customer Care in Eluru
For any inquiries or assistance related to a business loan in Eluru, Shriram Finance offers dedicated Business Loan Customer Care in Eluru. You can reach out via phone or visit any branch for personalised support.
Business Loan Status in Eluru
For updates on your business loan application status, please visit our website and enter your application reference number. Our customer care team is also available to provide real-time updates regarding your loan processing. Choosing Shriram Finance ensures a seamless borrowing experience tailored to meet your financial objectives in Eluru.
Business Loans in Major Cities
Business Loan FAQs
Who is eligible for a business loan in Eluru?
Partnership firms, proprietorship firms, private limited companies, public limited companies, and Limited Liability Partnerships (LLPs) are eligible to apply for a business loan. The applicant must be between 21 years to 65 years old (with age at loan maturity not exceeding 65 years). Self-employed individuals, business owners, or proprietors with a minimum of 3 years of business experience are also eligible.
What is the interest rate on a business loan in Eluru?
The interest rate for Shriram Business Loans starts from 10%* p.a. For detailed information on interest rates and applicable fees/charges, please refer to our interest rate policy.
How much loan can I get for my business in Eluru?
Shriram Finance provides business loans starting from Rs.1 lakh*. The maximum loan amount depends on your business's needs and eligibility.
Can I apply for a business loan in Eluru?
Yes, you can apply for a business loan in Eluru. Applying for a business loan with Shriram Finance is very easy. You can apply online or visit a branch.
What is the maximum loan tenure for a business loan in Eluru?
You can choose a loan tenure from 12 to 48 months for unsecured business loans and 12 – 84 months for secured business loans.
What is the processing time for a business loan in Eluru?
The loan approval time is approximately 2- 3 business days. This is dependent on the credibility of the information furnished, fulfillment of the eligibility criteria, and submission of relevant documents.
What is the eligibility for a startup business loan in Eluru?
For a startup business loan in Eluru from Shriram Finance, the eligibility criteria are generally the same as for a regular business loan.
What is the minimum interest rate for a business loan in Eluru?
The minimum interest rate starts 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.