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Business Loan in Visakhapatnam
Visakhapatnam, a prominent business destination in Andhra Pradesh, showcases steady commercial advancement across industries. Shriram Finance strengthens business aspirations through versatile financial solutions tailored to various enterprise needs. Timely capital availability serves as a cornerstone for business enhancement, operational sustainability, and growth objectives. Shriram Finance delivers business loans beginning from Rs.1 lakh*, with interest rates commencing at 10%* p.a. The financial solutions cater to multiple business requirements, from operational funding to expansion plans. With simplified documentation and quick processing, Shriram Finance offers both secured and unsecured business loans. The adaptable repayment duration extending to 84 months supports balanced financial planning for businesses.
Business Loan Types in Visakhapatnam
Shriram Finance nurtures business development in Visakhapatnam with strategic secured and unsecured business loan solutions tailored to address varied financing needs and growth opportunities.
Features and Benefits of Business Loans in Visakhapatnam
For residents of Visakhapatnam seeking reliable financial support, Shriram Finance delivers comprehensive business loan solutions. Here are the key advantages:
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 Visakhapatnam
Business loan interest rates begin from 10%* p.a. Complete information on interest rates and applicable fees/charges is available 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
âı 1,00,000
Interest Payable
âı 39,450
Monthly EMI
âı 1,660
Eligibility and Documentation Criteria for Business Loans in Visakhapatnam
Eligibility and Documentation Criteria for Business Loans in Visakhapatnam
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 Visakhapatnam
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 Visakhapatnam
Shriram Finance provides Visakhapatnam's business sector with unsecured financial solutions that eliminate the need for asset collateral. Beginning at Rs. 1 lakh*, these loans support commercial development while preserving asset ownership. Eligible businesses benefit from a streamlined digital application process designed for efficiency. Enterprises must showcase 3 years of operational history and furnish necessary documentation to qualify. The expedited evaluation system outpaces traditional secured lending, offering attractive rates and customisable payment schedules. Visakhapatnam-based entrepreneurs should review area-specific criteria and loan features.
Our Business Loan Branches in Visakhapatnam
Access business loan services through the established branch network in Visakhapatnam, ensuring convenient loan application and management. Key locations include:
Locate Us
Business Loan Customer Care in Visakhapatnam
For business loan guidance in Visakhapatnam, connect with customer care through phone or visit the nearest branch for immediate support.
Business Loan Status in Visakhapatnam
Track loan applications on the website through the reference number. Get instant processing updates from the customer care team. Experience streamlined borrowing tailored to local business requirements in Visakhapatnam.
Business Loans in Major Cities
Business Loan FAQs
Who is eligible for a business loan in Visakhapatnam?
Entities eligible for a business loan include LLPs, Public Ltd companies, Pvt Ltd companies, Proprietorship firms, and Partnership firms. Applicants should be between the ages of 21 years to 65 years (not exceeding 65 years at maturity). Self-employed professionals, business owners, and proprietors with at least 3 years of operational experience qualify.
What is the interest rate on a business loan in Visakhapatnam?
The interest rates for business loans from Shriram Finance start at 10%* p.a. For comprehensive details about rates and associated charges, please refer to the charges section above.
How much loan can I get for my business in Visakhapatnam?
Shriram Finance offers business loans that start at Rs.1 lakh*. The maximum loan amount is determined based on specific business needs and the assessment of eligibility.
Can I apply for a business loan in Visakhapatnam?
You can apply for a business loan in Visakhapatnam through digital platforms or by visiting any Shriram Finance branch.
What is the maximum loan tenure for a business loan in Visakhapatnam?
For unsecured business loans, the tenure ranges from 12 to 48 months, whereas secured loans can be extended from 12 â 84 months.
What is the processing time for a business loan in Visakhapatnam?
Typically, loan processing takes around 2- 3 business days, depending on the verification of eligibility, credibility of information, and the completeness of documentation.
What is the eligibility for a startup business loan in Visakhapatnam?
Eligibility for startup business loans follows the standard criteria established for business loans through Shriram Finance.
What is the minimum interest rate for a business loan in Visakhapatnam?
The minimum interest rate for business loans is set at 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.