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Business Loan in Karur
Karur is a city famous for its textile and bus-making businesses. It's an important place for trade. Shriram Finance understands the financial needs of businesses in Karur and provides loan options to help them grow. Getting a business loan in Karur can help local businesses modernise and make the most of new opportunities. Understanding that businesses have different needs, Shriram Finance offers loans that can last from 12 to 60 months and have good interest rates. Shriram Finance also provides both secured and unsecured business loan options, depending on where your business is located. Knowing that getting finance easily is important, Shriram Finance offers an easy online application process. Shriram Finance is here to help Karur's economy grow, with business loans starting from Rs.1 lakh*.
Business Loan Types in Karur
Shriram Finance offers various secured and unsecured business loan options in Karur, tailored to help you in fulfilling all your business needs. These include:
Features and Benefits of Business Loans in Karur
Shriram Finance provides business loan options with competitive rates and easy processes if you want financial help to expand your business in Karur. 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 Karur
Interest rates for Shriram Finance unsecured business loan options in Karur begin at 12%*p.a Refer to the particulars for comprehensive information on interest rates and associated charges. 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 Karur
Eligibility and Documentation Criteria for Business Loan in Karur
Who Can Apply- Pvt Ltd companies
- Proprietorship firms
- Partnership firms
- LLPs
- Public Ltd companies
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- Selfie Photograph
- Bank statement (6 months)
- Business registration proof
- Business PAN
- Applicant PAN
Step-by-Step Application Process for Business Loans in Karur
The procedure to apply for a business loan in Karur with Shriram Finance involves 5 easy 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 Karur
For businesses seeking growth opportunities, Shriram Finance offers an unsecured business loan designed to eliminate the need for collateral. This type of financing enables business owners to obtain funds without needing to provide any security. Businesses in Karur can leverage Shriram Finance's unsecured business loan to manage various business-related expenses. Shriram Finance's unsecured business loans are structured with flexible repayment options and affordable interest rates. Applying for this loan is designed to be a hassle-free online process. The advantages of these loans include no collateral requirements, a quicker approval process, and better credit terms. Businesses must meet particular operational and documentation criteria to be eligible for Shriram Finance's unsecured business loan. Please note that the availability of unsecured business loans may vary depending on the business's physical location.
Our Business Loan Branches in Karur
Shriram Finance operates several branches in Karur, simplifying matters for patrons to apply for and oversee their loans:
Locate Us
Business Loan Customer Care in Karur
For any enquiries or support needed with regards to a business loan in Karur, Shriram Finance has specialised Business Loan Customer Care in Karur. Assistance is available over the phone, or through personal meetings at any of our branches.
Business Loan Status in Karur
If you wish to learn the status of your business loan application, please visit our website and enter your application reference number. In addition to this, real-time updates on your loan are provided by our customer care representatives.
Business Loans in Major Cities
Business Loan FAQs
What are the qualifications for a business loan in Karur?
We are happy to receive applications from partnership firms, proprietorship firms, private limited companies, public limited companies, and LLPs. We do ask that applicants are aged between 21 years to 65 years. Self-employed individuals, business owners, and proprietors must also be able to demonstrate at least 3 years of business experience.
What is the interest rate applicable to business loans offered by Shriram Finance in Karur?
The interest rate for business loans with us starts at 10%* p.a. Do have a look at our interest rate policy for detailed information on the interest rates, fees, and charges that apply.
How much funding can my business secure in Karur through Shriram Finance?
At Shriram Finance, our business loans start from Rs.1 lakh*. The actual loan amount we can approve will depend on factors such as your credit score, your revenue figures, and the robustness of your business plan. If you are eligible, you could secure an unsecured business loan with a credit limit of up to Rs.##bl-unsecured-amt##*.
What is the established process to apply for a business loan from Shriram Finance in Karur?
We have made our application process as straightforward and convenient as possible. To begin, just register on our website with your mobile number, verify your details with the one-time password (OTP) we send you, and then complete your personal details. Following this, one of our representatives will be in touch to assist you further with your business loan application.
What are the available repayment options for a business loan in Karur?
Loan repayment can be structured over a period of 12 to 48 months if you have an unsecured business loan, and from 12 – 84 months for our secured business loans.
What is the expected timeframe to process a business loan in Karur?
At Shriram Finance, our goal is to sanction your loan within a turnaround time of approximately 2- 3 business days. The actual processing time can, however, vary depending on what type of loan you are applying for, the total funding amount requested, and other related considerations.
Are there specific eligibility requirements for startup business loans from Shriram Finance in Karur?
The eligibility requirements for our startup business loans are generally the same as for our standard business loans, so do make sure you meet these before applying.
What is the established starting interest rate for business loans in Karur?
The established starting interest rate is 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.