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Business Loan
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Business Loan in Rourkela

Shriram Finance offers tailored loan solutions in Rourkela to support local businesses. Securing funds is crucial for expansion and operational improvements. Shriram Finance business loans have competitive rates (starting from 10%* p.a.) and amounts which are for specific needs, such as expansion, working capital, and equipment. Loans offer minimal paperwork, quick approval, and flexible repayment tenures of up to 84 months, including both secured and unsecured loans. Shriram Finance understands the business environment in Rourkela and provides a streamlined online application for quick access to funds, starting from Rs.1 lakh*. Shriram Finance aims to be a reliable partner for Rourkela's business growth

Business Loan Types in Rourkela

Shriram Finance has both secured and unsecured business loans. These include:

Trade Finance
Trade Finance
Offered to support trading activities and related expenses, which consists of financial products such as letters of credit, invoice factoring, and export credit insurance.
MSME Loan
MSME Loan
Offered to help micro, small, and medium-scale entrepreneurs meet their business expenditures. These loans can be used to finance working capital, equipment purchases, and business expansion.
GST Business Loan
GST Business Loan
Offered to business owners based on their GST returns, with the loan amount determined appropriately.
Working Capital Loan
Working Capital Loan
Designed to help business owners pay for immediate operational needs, which include purchasing inventory, hiring and training new employees, buying equipment or supplies, paying taxes, managing payroll, along with other short-term operational expenses.
Shop Loan
Shop Loan
Designed to help small retail businesses, such as shops, boutiques, and convenience stores, finance their operations and growth. These loans can cover working capital, inventory purchases, equipment upgrades, and marketing expenses.
Loan Without Financials
Loan Without Financials
Designed for businesses that have difficulty providing traditional financial documentation, such as startups, small businesses, or businesses with poor credit. It does not require the borrower to provide detailed financial statements or other documentation.
Business Loan for Women
Business Loan for Women
Specifically designed to help women entrepreneurs start or grow their businesses. These loans may be offered to women-owned businesses of all sizes and stages of growth.
Supply Chain Finance
Supply Chain Finance
Provides flexible payment alternatives to both buyers and suppliers at competitive financing rates to ensure the smooth functioning of a business.
Supply Chain Finance
Startup Business Loan
Designed to assist in raising capital and developing existing businesses. It can cover startup costs like purchasing resources and equipment, marketing expenses, or developing new products. It's particularly helpful for startups.

Features and Benefits of Business Loans in Rourkela

If you require financial help to grow your business, reach out to Shriram Finance. Benefits of a business loan from Shriram Finance include:

Online EMI Calculator

Online EMI Calculator

Accurately calculate your monthly payments with our easy-to-use online EMI Calculator.
Loans starting from Rs. 1 lakh*

Loans starting from Rs. 1 lakh*

Manage your business expenses with loans starting from Rs. 1 lakh*.
Secured & Unsecured Loans

Secured & Unsecured Loans

Shriram Finance offers both secured and unsecured business loan options, depending on your business location. Get an unsecured business loan at an interest rate of 12%*p.a. and secured business loan at 10%* p.a.
Quick Loan & Approvals

Quick Loan & Approvals

Expect a fast loan approval process to ensure your business needs are met on time. The approval time is about 2- 3 business days, based on the reliability of the information provided, meeting the requirements, and submission of the necessary documents.
Flexible Loan Tenure

Flexible Loan Tenure

Choose from a range of flexible tenure options. Secured Loans start from 12 – 84 months, and unsecured business loans range from 12 to 48 months.
Hassle-free Online Process

Hassle-free Online Process

Apply for your loan and get it approved online in a few simple steps.

Business Loan Interest Rates and Charges in Rourkela

For details on interest rates and applicable fees/charges from Shriram Finance, refer to the table below:

Type of Fees Applicable Charges
Interest RateCustomised interest rates starting from 10%* p.a.
Processing FeesUp to 5%*
Late Payment Fees36%* p.a on the Overdue Amount
Foreclosure ChargesUp 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

Loan tenure
months

Min 12 months

Max 84 months

Loan Summary

loangraph

Loan

Loan Amount

₹ 1,00,000

Interest Payable

₹ 39,450

Monthly EMI

₹ 1,660

Eligibility and Documentation Criteria for Business Loans in Rourkela

Eligibility and Documentation Criteria for Business Loans in Rourkela

  • Individual IconWho can apply?
    • Proprietorship firms
    • LLPs
    • Pvt ltd companies
    • Public Ltd companies
    • Partnership firms
  • Individual IconEligibility 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.
  • Individual IconDocuments Required:
    • Bank statement (6 months)
    • Business registration proof
    • Business PAN
    • Applicant PAN
    • Selfie Photograph

Step-by-Step Application Process for Business Loans in Rourkela

Applying for Shriram Business Loan is a 5-step process:

How To Apply

  • Step 1

    Register using your mobile number

  • Step 2

    Enter loan details

  • Step 3

    Enter business details

  • Step 4

    Receive a verification call from us

  • Step 5

    Get your loan disbursed

Unsecured Business Loans in Rourkela

Our unsecured business loan requires no collateral, which is very helpful for young businesses. 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. 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.

Our Business Loan Branches in Rourkela

Visit any Shriram Finance branch in Rourkela to explore our range of financial solutions including business loans, commercial vehicle loans and working capital loans

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Business Loan Customer Care in Rourkela

For any assistance regarding a business loan in Rourkela, reach out to Shriram Finance immediately.

Toll Free

Business Loan Status in Rourkela

To check the status of your personal loan application, visit our website and enter your application reference number. Do also contact our customer care. Avail a business loan from Shriram Finance without facing any difficulties. We are happy to help!

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Business Loan FAQs

Who is eligible for a business loan in Rourkela?

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 Rourkela?

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 Rourkela?

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 Rourkela?

Yes, you can apply for a business loan in Rourkela. 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 Rourkela?

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 Rourkela?

The loan approval time is quick. 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 Rourkela?

For a startup business loan in Rourkela 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 Rourkela?

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.