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Business Loan in Mumbai
Mumbai, India's financial powerhouse, thrives on entrepreneurial spirit. Shriram Finance empowers Mumbai businesses with tailored loan solutions. Securing capital is vital for expansion, upgrades, and smooth operations. Our business loans have competitive rates (starting from 10%* p.a.), and loan amounts tailored to meet specific business needs; used for business expansion, working capital, purchasing equipment, or managing expenses. These loans from Shriram Finance 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 Mumbai business environment. By streamlining the application process, Shriram Finance allows businesses to get capital quickly. Shriram Finance is a trusted partner for Mumbai's growth, with business loans starting from Rs1 lakh*.
Business Loan Types in Mumbai
Shriram Finance has multiple types of business loans that can help you facilitate your business needs in Mumbai. These include:
Features and Benefits of Business Loans in Mumbai
If you are in need of financial aid to expand and grow your business in Mumbai, 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 Mumbai
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 Mumbai
Eligibility and Documentation Criteria for Business Loans in Mumbai
Eligible Applicants:- Private Limited Companies
- Public Limited Companies
- Partnership firms
- Limited Liability Partnerships (LLPs)
- Sole Proprietorships
Eligibility Requirements:- Age: Applicants should be between 21 years to 65 years old (with loan maturity not exceeding 65 years).
- Professional Profile: Self-employed individuals, business owners, or proprietors must demonstrate a minimum of 3 years of business experience.
Required Documents:- Business PAN card
- Applicant's PAN card
- Six-month bank statement
- Proof of business registration
- Recent photograph
Step-by-Step Application Process for Business Loans in Mumbai
Applying for a Shriram Business Loan in Mumbai is a simple 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 Mumbai
Shriram Finance provides an ideal solution for young and growing businesses 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, the 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 Mumbai
Shriram Finance has branches across Mumbai, making it convenient for customers to apply and manage their loans. Key locations include:
Locate Us
Business Loan Customer Care in Mumbai
For inquiries about business loans in Mumbai, Shriram Finance offers dedicated customer care services. Contact us by phone or visit a branch.
Business Loan Status in Mumbai
For any inquiries or assistance regarding a business loan in Mumbai, 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 Loans in Major Cities
Business Loan FAQs
Who is eligible for a business loan in Mumbai?
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 Mumbai?
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 Mumbai?
Shriram Finance provides business loans starting from Rs1 lakh*. The maximum loan amount depends on your business's needs and eligibility
Can I apply for a business loan in Mumbai?
Yes, you can apply for a business loan in Mumbai. 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 Mumbai?
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 Mumbai?
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 Mumbai?
For a startup business loan in Mumbai 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 Mumbai?
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.