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Purnia is emerging as a significant hub for small and medium enterprises, driven by its rich agricultural landscape and industrious spirit. For business owners and aspiring entrepreneurs, accessing timely financial support is crucial for not only sustaining operations but also for seizing growth opportunities. This is where business loans in Purnia from Shriram Finance come into play. Our loans are crafted to meet diverse financial needs, whether you're looking to expand your existing operations, manage daily expenses, or launch a new venture. With interest rates starting from 10%* p.a., we aim to provide accessible financing solutions without the burden of excessive costs. Our streamlined application process ensures that you receive prompt approvals with minimal documentation. You can choose from secured or unsecured loan options based on your requirements. Secured loans allow for higher amounts with collateral, while unsecured loans provide flexibility without the need for assets. At Shriram Finance, we believe in empowering Purnia's business community with the financial tools necessary to thrive. Our commitment is to support your entrepreneurial journey, helping you contribute to the local economy.
Shriram Finance offers a variety of business loan solutions in Purnia:
Discover the key features and benefits of business loans available to businesses across Purnia:
This table outlines the interest rates and fees applicable to business loans offered by Shriram Finance in Purnia. Knowing these charges is essential for businesses seeking financial assistance.
| 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%* |
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 Purnia
Applying for Shriram Business Loan is a 5-step process:
Shriram Finance provides an ideal solution for young and expanding businesses. Our unsecured business loans do not require any collateral, allowing you to access funds without pledging assets. Loans start from Rs.1 lakh* and come with flexible repayment options and competitive interest rates. The online application process is simple, ensuring quick approvals and favourable credit terms. To be eligible, your business should have been running for at least 3 years, along with the submission of required documents.
At our Purnia branch, we have been supporting local businesses in meeting their financial needs. Whether you need funds for business expansion or managing daily operations, we are here to help you select the right loan option.
Shriram Finance is available to handle all your business loan inquiries in Purnia. You can reach out to our customer support team by phone or visit the branch for personalised guidance.
Track your business loan application status in Purnia effortlessly. Enter your reference number on our website for instant updates. Our customer care team is available to assist you if needed.
Who is eligible for a business loan in Purnia?
Sole proprietors, LLPs, partnership firms, and private and public limited companies in Purnia can apply. Applicants must be aged between 21 years to 65 years and have at least 3 years of business experience.
What is the interest rate on a business loan in Purnia?
Business loans in Purnia come with competitive interest rates starting at 10%* p.a. For details on additional charges, please check the section above.
How much loan can I get for my business in Purnia?
Loan amounts start from Rs.1 lakh* in Purnia. The maximum amount depends on your business requirements and eligibility.
Can I apply for a business loan in Purnia?
Yes, you can apply online or visit the Shriram Finance branch in Purnia for assistance.
What is the maximum loan tenure for a business loan in Purnia?
Unsecured loans come with repayment periods of 12 to 48 months, while secured loans offer flexible repayment options ranging from 12 – 84 months.
What is the processing time for a business loan in Purnia?
Loan applications are typically processed within 2- 3 business days, depending on the completeness of your documents and eligibility.
What is the eligibility for a startup business loan in Purnia?
Startup business loan eligibility in Purnia follows the same criteria as standard business loans.
What is the minimum interest rate for a business loan in Purnia?
Shriram Finance offers business loans in Purnia at competitive rates starting from 10%* p.a.
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.