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Business Loan in Erode
Erode is a textile hub in Tamil Nadu that presents many opportunities for businesses in textiles, agriculture, and trade. Getting money is key if you're looking to grow, make updates, or just keep your business running smoothly. That's why Shriram Finance business loans come with attractive interest rates (starting from 10%* p.a.) and can be adjusted to fit your specific business needs. Whether you're planning to expand, need money for daily operations, want to buy new equipment, or need help managing your expenses, we're here to help. Our loans are designed to be simple, with minimal paperwork and a fast approval process. Plus, we offer flexible repayment options, so you can choose a schedule that works for your business. Shriram Finance has customised solutions, including secured and unsecured business loans, so you can find the perfect fit for your situation. By making the application process straightforward, we ensure that you can get the capital you need quickly. Shriram Finance is your partner in Erode's growth, offering business loans starting from Rs.1 lakh*.
Business Loan Types in Erode
Shriram Finance offers a wide range of business loan options in Erode, both secured and unsecured, to help you meet your specific business needs. These include:
Features and Benefits of Business Loans in Erode
If you're looking for financial assistance to expand your business in Erode, Shriram Finance is a great choice. Our business loans offer several key benefits:
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 Erode
Shriram Finance offers competitive interest rates on business loans in Erode, starting from 10%* p.a.. For detailed information on interest rates and any associated fees or charges, please consult our website or contact our branch representatives in Erode.
| 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
₹ 1,00,000
Interest Payable
₹ 39,450
Monthly EMI
₹ 1,660
Eligibility and Documentation Criteria for Business Loans in Erode
Eligibility and Documentation Criteria for Business Loans in Erode
Eligible Applicants:- Limited Liability Partnerships (LLPs)
- Private Limited Companies
- Public Limited Companies
- Sole Proprietorships
- Partnership firms
Eligibility Requirements:- Professional Profile: Self-employed individuals, business owners, or proprietors must demonstrate a minimum of 3 years of business experience.
- Age: Applicants should be between 21 years to 65 years old (with loan maturity not exceeding 65 years).
Required Documents:- Applicant's PAN card
- Six-month bank statement
- Business PAN card
- Recent photograph
- Proof of business registration
Step-by-Step Application Process for Business Loans in Erode
Applying for a Shriram Business Loan in Erode involves five aimple 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 Erode
Shriram Finance offers an ideal solution for young and growing businesses in Erode with our unsecured business loan that requires no collateral. An unsecured business loan does not require you to pledge any of your assets to get financing. With Shriram Finance, you can get an unsecured business loan starting from Rs.1 lakh*. Shriram Finance offers unsecured business loans with flexible repayment tenures and affordable interest rates. Applying for an unsecured business loan with Shriram Finance is a hassle-free and easy online process. These loans are beneficial because no collateral is required, approval process is quicker and easier, and they come with better credit terms. To be eligible for an unsecured business loan from Shriram Finance, your business should have been operational for at least 3 years, and you must provide all the required documentation. An unsecured business loan is offered to business owners based on the fulfilment of eligibility criteria.
Our Business Loan Branches in Erode
Shriram Finance has branches across Erode, making it convenient for customers to apply and manage their loans. Key locations include:
Locate Us
Business Loan Customer Care in Erode
For any inquiries or assistance regarding a business loan in Erode, Shriram Finance offers dedicated customer care services. You can reach out via phone or visit any branch for personalised support. Contact details and branch addresses can be found on our website.
Business Loan Status in Erode
To check the status of your business loan application in Erode, visit our website and enter your application reference number. You can also contact customer care for real-time updates on your loan processing status.
Business Loans in Major Cities
Business Loan FAQs
Who is eligible for a business loan in Erode?
Partnership firms, Proprietorship firms, Pvt Ltd companies, Public Ltd companies, and LLPs are eligible to apply for a business loan. The applicant should 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 Erode?
The interest rate for Shriram Business Loan starts from 10%* p.a. For detailed information on interest rates and applicable fees/charges, please refer to their interest rate and charges section above.
How much loan can I get for my business in Erode?
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 Erode?
Yes, you can apply for a business loan in Erode. 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 Erode?
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 Erode?
The loan approval time is approximately 2- 3 business days. This is dependent on the credibility of the information furnished, fulfilment of the eligibility criteria, and submission of relevant documents.
What is the eligibility for a startup business loan in Erode?
For a startup business loan in Erode 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 Erode?
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.