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Business Loan in Muzaffarpur
Muzaffarpur is known for its flourishing litchi trade and growing small-scale industries. This city is steadily becoming a key business centre in Bihar. If you are a business owner or entrepreneur, securing the right financial support is essential for expanding operations, managing day-to-day expenses, or exploring new opportunities. This is where business loans in Muzaffarpur from Shriram Finance can make a difference. With interest rates starting from 10%* p.a., these loans are designed for diverse business needs. You can benefit from fast approvals and minimal documentation, ensuring you get the funds you need without unnecessary delays. The flexible repayment options allow you to select a repayment plan that fits your business's cash flow. At Shriram Finance, business loans are available in both secured and unsecured forms. You can choose a secured loan if you wish to avail higher amounts by pledging collateral. Otherwise, opt for an unsecured loan that doesn't require any assets. With these tailored options, you get the financial support to grow your business and contribute to Muzaffarpur's economic progress.
Business Loan Types in Muzaffarpur
Here are the different business loan types in Muzaffarpur that you can explore based on your business needs:
Features and Benefits of Business Loans in Muzaffarpur
Here are some features and benefits that make our business loans in Muzaffarpur a practical choice:
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 Muzaffarpur
This table details the interest rates and fees associated with business loans offered by Shriram Finance in Muzaffarpur. Understanding these charges is crucial for businesses considering financial support.
| 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
âı 1,00,000
Interest Payable
âı 39,450
Monthly EMI
âı 1,660
Eligibility and Documentation Criteria for Business Loans in Muzaffarpur
Eligibility and Documentation Criteria for Business Loans in Muzaffarpur
Who can apply?- Partnership firms
- Proprietorship firms
- Pvt ltd companies
- Public Ltd companies
- 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)
- Business registration proof
- Business PAN
- Applicant PAN
- Selfie Photograph
Step-by-Step Application Process for Business Loans in Muzaffarpur
Applying for Shriram Business Loan 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 Muzaffarpur
Shriram Finance offers a great solution for young and growing businesses. Our unsecured business loans require no collateral. This means you do not have to pledge any assets to get financing. You can access an unsecured business loan starting from Rs1 lakh*. Our loans come with flexible repayment options and competitive interest rates. The application process is simple and can be done online. They also have a faster approval process and better credit terms. To qualify, your business must have been operational for at least 3 years. You will also need to provide all necessary documentation.
Our Business Loan Branches in Muzaffarpur
At our Muzaffarpur branch, we have been helping local businesses meet their financial requirements. Whether you're seeking funds for expansion or assistance with operational costs, we are ready to help you choose the right loan option.
Locate Us
Business Loan Customer Care in Muzaffarpur
Shriram Finance is available for all your business loan inquiries in Muzaffarpur. You can contact our customer support team by phone or visit the branch for personalised assistance.
Business Loan Status in Muzaffarpur
Checking the status of your business loan application in Muzaffarpur is simple. Just enter your reference number on our website for instant updates. If you need further assistance, our customer care team is always ready to help.
Business Loans in Major Cities
Business Loan FAQs
Who is eligible for a business loan in Muzaffarpur?
Sole proprietors, LLPs, partnership firms, as well as private and public limited companies in Muzaffarpur can apply. Applicants should be between 21 years to 65 years old and must have a minimum of 3 years of business experience.
What is the interest rate on a business loan in Muzaffarpur?
Business loans in Muzaffarpur are offered at competitive interest rates starting from 10%* p.a. For details on additional charges, please refer to the section above.
How much loan can I get for my business in Muzaffarpur?
Loans begin at Rs1 lakh* in Muzaffarpur. The maximum loan amount is determined by your business requirements and eligibility.
Can I apply for a business loan in Muzaffarpur?
Yes, you can apply either online or by visiting the Shriram Finance branch in Muzaffarpur.
What is the maximum loan tenure for a business loan in Muzaffarpur?
Unsecured loans offer repayment terms ranging from 12 to 48 months, while secured loans provide flexible repayment options from 12 â 84 months.
What is the processing time for a business loan in Muzaffarpur?
Loan applications are typically processed within 2- 3 business days. Note that this is based on the completeness of documentation and fulfilment of eligibility criteria.
What is the eligibility for a startup business loan in Muzaffarpur?
The eligibility criteria for startup business loans in Muzaffarpur are similar to those for standard business loans.
What is the minimum interest rate for a business loan in Muzaffarpur?
Shriram Finance provides business loans in Muzaffarpur starting at competitive interest rates of 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.