Business Loan in Kolkata

Kolkata is the commercial and financial hub of Eastern India, with a large consumer base providing a ready market for a wide range of products and services. This makes the ‘City of Joy’ an attractive avenue for businesses looking to scale and grow. The availability of mentorship, networking opportunities, and infrastructure has created a conducive environment for businesses to flourish. To fuel this growth story, funding in the form of a business loan in Kolkata is readily available.

IIFL Finance's business loan in Kolkata is among the most reputable options due to its straightforward application process, minimal documentation requirements, and competitive interest rates.

Features and Benefits of a Business Loan in Kolkata

Offering various incentives, subsidies, and investment-friendly policies to attract businesses, the state is poised to promote industrial and economic development. In light of this, most lenders have developed business loans in Kolkata that are specifically tailored to the clients' requirements.

Swift Funding

A business loan in Kolkata makes it simple to arrange for funds up to Rs 30 lakhs.

Hardly any paperwork

There are only a few documents needed to prove your identity, residence, and business.

Quick Payment

Within 48 hours of the application being approved, the loan money is deposited into the applicant's account.

No collateral Required

You won't be required to use an expensive possession or piece of property as security.

Business Loan in Kolkata EMI Calculator

Calculate your EMI and choose the most suitable product for you

Eligibility Criteria for Business Loans in Kolkata

You would be required to meet specified eligibility requirements in order to apply for an unsecured business loan in Kolkata. It is advisable to give everything due thought before applying

  1. Before applying, the business should have been in operation for at least six months.

  2. The turnover for the previous three months must have been at least Rs 90,000 at the time of application.

  3. The business shouldn't be included in a list of prohibited or blacklisted companies.

  4. The office or business shouldn't be on the list of negative areas.

  5. The business shouldn't be a trust, charity, or non-governmental entity.

Documents required for a Business Loan in Kolkata

There are a few crucial business-related documents you must present if you seek a business loan in Kolkata.

  1. KYC records - Proof of the borrower's identification (PAN card, Aadhaar Card etc)

  2. Borrower's and each co-borrower's PAN cards

  3. Bank statements from the main business account for the last six to twelve months.

  4. The term loan facility's standard terms duly signed

  5. Additional documentation for processing loan applications and credit review

  6. GST Registration

  7. Recent year's worth of bank statements

  8. A copy of the proprietor(s)' Aadhar card and a PAN card

  9. Proof of company registration.

  10. A duplicate of the partnership contract and the business's PAN card

Business Loan Fees & Interest Rate

Based on market conditions and macroeconomic considerations, the interest rates and fees will continue to fluctuate. However, a business loan in Kolkata will be tailored and set up at a fair price so that you can concentrate on achieving your business goals and not worry about the financial strain.

Why choose an unsecured business loan in Kolkata?

Providing a combination of market potential, skilled resources, affordability, and government support, Kolkata indeed is a favorable environment for business growth. By choosing an unsecured business loan in Kolkata, you may make advantage of this beneficial ecology and its resources for the growth of your firm.

An unsecured business loan in Kolkata can help with:
  1. Expanding the business with working capital

  2. Purchase of Equipment and Assets

  3. Cash flow management and inventory control

  4. Business opportunities

  5. Promotional & Marketing Exercises

  6. Expanding your credit history

How to apply for a Business loan in Kolkata?

Compared to other metropolitan cities in India like Mumbai and Delhi, the cost of living and doing business in Kolkata is relatively lower. So, if you want to apply for a business loan in Kolkata from IIFL Finance, follow these steps:

  • ‌‌

    Visit https://www.iifl.com/business-loans

  • ‌‌

    Click "Apply Now" and fill out the form.

  • Complete KYC by supplying all required documentation.

  • ‌‌

    Select "Submit" from the menu.

  • ‌‌

    After the appraisal, IIFL Finance will authorize the loan in less than 30 minutes and deposit the funds into your bank account within the next 48 hours.

So if you are actively looking for a business loan in Kolkata, Look no further and apply now!

IIFL Business Loan Related Videos

Business Loan in Kolkata FAQs

Some of the typical ways to secure business financing in the city:

  • Bank Loans
  • Non-Banking Financial Companies (NBFCs)
  • Government Schemes 
  • Microfinance Institutions
  • Venture Capital and Angel Investors
  • Online Lending Platforms
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Here are a few steps that can help in getting your business loan approved for an online business: 

  • Prepare a comprehensive business plan
  • Build a strong online presence
  • Maintain good creditworthiness
  • Organize financial documentation
  • Research suitable lenders
  • Gather necessary documents
  • Highlight revenue generation
  • Present a realistic loan request
  • Provide collateral or guarantees
  • Be prepared for negotiations
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In India, a business loan can impact taxes in the following ways:

  1. The interest paid on a business loan is generally tax-deductible as a business expense, reducing the taxable income.
  2. Principal repayment does not directly impact taxes as it is not considered a deductible expense.
  3. Loan processing fees may be considered a business expense and deducted from taxable income.
  4. If a loan is forgiven or cancelled, the forgiven amount may be considered taxable income unless specific exceptions apply.
  5. Expenses related to eligible business use of loan funds may be deductible, reducing taxable income.
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