Business Loan in Agra
The iconic Taj Mahal may have put Agra on the world map, but it is fast emerging as an attractive business hub in northern India. Beyond its historical allure, the city in Uttar Pradesh offers a strategic location with well-connected transportation networks. Its proximity to Agra, just a few hours away by road and rail, facilitates easy access to the capital's markets and resources.
Agra is witnessing a growing industrial presence, particularly in the leather, footwear, and handicrafts sectors. Establishing industrial zones and parks has further spurred economic development, attracting domestic and international investments. Its skilled workforce and affordable labor costs also appeal to businesses seeking to expand operations. These factors have made a business loan in Agra sought-after for established and new entrepreneurs.
Business Loan in Agra: Features and Benefits
Agra's hospitality and tourism sectors are thriving, providing ample opportunities for business events and conferences. With a blend of historic charm and modern infrastructure, Agra is set to play a pivotal role in India's evolving business landscape. Thus, one can benefit from the following advantages if looking for a business loan in Agra.
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Business Loans in Agra: Eligibility Criteria
One must fulfill certain eligibility prerequisites for any kind of business loan, big or small, in Agra. The applicant must carefully assess these before initiating the application process:
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The company must have been in operation for a minimum of six months before applying.
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At the time of application, the total turnover for the last three months should amount to at least Rs. 90,000.
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The company must not be included in any blacklist or list of excluded businesses.
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The office or business location should not be listed as an undesirable location.
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The company must not be a charity, non-governmental organization, or trust.
Business Loan in Agra: Documents Required
For aspirants in search of a business loan in Agra without security or with security, it is necessary to provide a specific set of essential documents related to your business:
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KYC records
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PAN Card
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Bank statements for the primary business account, covering the most recent six to twelve months.
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Standard terms (term loan facility) signed copy
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Additional document(s) for credit evaluation and loan request processing
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GST Registration
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A copy of the proprietor(s)' Aadhar card and PAN card
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Evidence of company registration.
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Copy of the partnership agreement and the company's PAN card
Business Loan Fees & Interest Rate
Please note that interest rates and fees for business loans in Agra are subject to change based on market conditions and economic factors. Rest assured, the interest rates for business loans in Agra are tailored to be affordable, allowing you to focus on your business goals without the burden of excessive financial costs.
Why choose an unsecured business loan in Agra?
While renowned for its historic monuments, Agra also boasts a substantial industrial presence. The city's primary industries include electrical appliances, pipes, fans, C.I. Casting, steel rolling, flooring, packaging, and dairy products. Small-scale businesses also have the opportunity to flourish here—such as cotton and textiles, stationery, leather goods, wooden and paper products, metal products, or auto and engine parts. Cold storage and handicrafts also flourish as prominent businesses in this vibrant city.
Procuring a business loan in Agra could help you in various ways:
- Enhance productivity
- Upgrade infrastructure
- Boost production capacity
- Revamp business
- Prompt business investments
- Purchasing a rival company
- Establishing a strong business credit profile
How to apply for a Business loan in Agra?
IIFL Finance is one of the most sought-after business loan providers in Agra, offering a streamlined application process. Here are the steps to follow:
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Go to the business loan section of the IIFL Finance website.
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Click "Apply Now" and complete the form.
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Submit all the necessary paperwork to complete KYC.
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Click the "Submit" button.
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Following evaluation, IIFL Finance will grant the loan in under 30 minutes and deposit the money into your bank account within 48 hours.
Boost your business in Agra! Apply now!
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Business Loan in Agra FAQs
Yes, a CIBIL score or a similar credit rating is often a prerequisite when applying for a business loan. Lenders utilize this score to evaluate the business' creditworthiness and its proprietors or guarantors.
The primary distinction lies in the scope. SME (Small and Medium Enterprise) loans encompass small and medium-sized businesses, whereas MSME (Micro, Small, and Medium Enterprises) loans specifically target these three types of businesses, focusing on smaller enterprises.
Yes, securing a collateral-free business loan in Agra is possible, much like in various other locations. These loans are typically known as unsecured business loans. Nevertheless, the availability and terms of such loans can vary depending on the lender, your business's financial profile, creditworthiness, and other factors
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