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Business Loan in Kannur
Kannur is a coastal city in Kerala known for its handloom industry and rich cultural heritage that offers diverse opportunities for businesses. Securing adequate funding is essential for business expansion, necessary upgrades, and smooth day-to-day operations. Our business loans come with competitive interest rates (starting from 10%* p.a.) and flexible loan amounts to meet a variety of specific business needs, whether it's for expansion, working capital, equipment purchases, or managing operational expenses. Our loans feature minimal paperwork, quick approval, and flexible repayment. We offer customised loan solutions which includes secured and unsecured business loans. With flexible tenures of up to 84 months and attractive interest rates starting from 10%* p.a., Shriram Finance understands the Kannur business environment. By streamlining the application process, Shriram Finance allows businesses to get capital quickly. Shriram Finance is a trusted partner for Kannur's growth, with business loans starting from Rs.1 lakh*.
Business Loan Types in Kannur
Shriram Finance powers business growth in Kannur with versatile secured and unsecured business loan offerings, providing comprehensive financial solutions tailored to meet diverse entrepreneurial needs and market demands.
Features and Benefits of Business Loans in Kannur
If you need financial aid to expand and grow your business, Shriram Finance is an ideal choice for availing 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 Kannur
Interest rates for Shriram Finance business loans start from 10%* p.a. For detailed information on interest rates and applicable fees/charges, refer to the details 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
₹ 1,00,000
Interest Payable
₹ 39,450
Monthly EMI
₹ 1,660
Eligibility and Documentation Criteria for Business Loans in Kannur
Eligibility and Documentation Criteria for Business Loans in Kannur
Who can apply?- Pvt ltd companies
- Public Ltd companies
- Partnership firms
- Proprietorship firms
- 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)
- Applicant PAN
- Selfie Photograph
- Business registration proof
- Business PAN
Step-by-Step Application Process for Business Loans in Kannur
Applying for Shriram Business Loan online in Kannur 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 Kannur
For emerging enterprises in Kannur, Shriram Finance extends unsecured business loans that eliminate the need for asset collateral. Starting at Rs.1 lakh*, these loans support business growth without requiring property or assets as security. The straightforward online application process makes accessing funds convenient for qualified businesses. To qualify, enterprises must demonstrate a minimum of 3 years of operation and submit the necessary documentation. The loan approval process is expedited compared to traditional secured loans, featuring competitive interest rates and adaptable repayment schedules. Business owners should note that loan availability depends on location-specific criteria and eligibility requirements.
Our Business Loan Branches in Kannur
Shriram Finance provides business loan services through its branch network in Kannur, making it convenient for customers to apply and manage their loans. Key locations include:
Locate Us
Business Loan Customer Care in Kannur
For business loan queries in Kannur, you can connect with Shriram Finance's customer support team through phone assistance or visit a branch for detailed guidance.
Business Loan Status in Kannur
Loan application status can be checked through the Shriram Finance website using the application reference number. The customer care team remains available for immediate updates regarding loan processing. Shriram Finance delivers a streamlined borrowing experience aligned with local business requirements in Kannur.
Business Loans in Major Cities
Business Loan FAQs
Who is eligible for a business loan in Kannur?
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 Kannur?
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 Kannur?
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 Kannur?
Yes, you can apply for a business loan in Kannur. 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 Kannur?
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 Kannur?
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 Kannur?
For a startup business loan in Kannur 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 Kannur?
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.