Business Loan In Pune

Pune is a major city in the western Indian state of Maharastra, which is considered India's financial and business hub. The city of Pune, after Bangalore, is widely regarded to be the second major IT hub in India. Being one of the biggest IT hubs, Pune has numerous operated businesses that contribute highly to the Indian GDP and offer innovative and effective products and services.

However, businesses in Pune also require constant capital to ensure they have enough funds to invest in every aspect of their business for smooth operations. One of the best ways to raise such capital is through taking a business loan in Pune.

A business loan in Pune is a specially designed loan product that caters to the capital needs of businesses operating in Pune. An instant loan in Pune ensures companies can sustain and achieve profitability.

Business Loan In Pune: Features and Benefits

A business may need capital to cover short-term liabilities such as rent, employee salaries, etc., for expanding the business or marketing. A business loan in Pune offers numerous advantages to entrepreneurs in Pune to ensure business success. Here are some of the best features and benefits of business loans in Pune.

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Immediate Capital

An Business owners can effectively raise immediate capital to cover their short-term or long-term liabilities. Immediate capital allows entrepreneurs to have enough funds to cover expenses without delay.

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Minimal Documentation

When you take a loan for business in Pune, you only have to submit a few documents for the KYC process. Minimal documentation allows entrepreneurs to submit the business loan application with a time-effective process.

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Quick Approval

The business loan for Pune entrepreneurs comes with the facility of quick disbursal, where the lender approves the business loan application process within 30 minutes of submitting the loan application form.

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Quick Disbursal

One of the best features of a loan for business in Pune is quick disbursal, where the lenders disburse the loan amount after approval within 48 hours. The entrepreneur or borrower gets the business loan amount directly into the bank accounts to use right away.

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No Collateral

Business loans taken in Pune have no obligation to pledge an asset as collateral. Unlike other loan products, entrepreneurs do not have to own a valuable asset and pledge it to the lender to raise capital.

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Loan Amount

₹ 50 K ₹ 75 L

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Rate of Interest

12.75 % 44 %

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Business Loans in Pune: Documents Required

For better transparency, lenders require borrowers to provide certain documents while filling in the application form. Here are the documents required.

KYC documents – Identity proof and address proof of the borrower and all co-borrowers

PAN Card of the borrower and all co-borrowers

Last (6-12 Months) months bank statement of main operative business account

Signed copy of standard terms (term loan facility)

Additional document(s) for credit assessment and processing the loan request

GST Registration

Previous 12 months’ bank statements

Proof of business registration

PAN Card and Aadhar Card copy of the Proprietor(s)

Deed copy and company PAN Card copy in the case of partnerships

Interest Rates For Business Loans In Pune

Like business loans offered in other Indian cities, a business loan in Pune also comes with an interest rate that the borrower must repay with the principal loan amount. However, lenders have designed business loans in Pune to offer entrepreneurs attractive and affordable interest rates.

Why Choose an Unsecured Business Loan In Pune?

Business loans are of two types; secured and unsecured. Most entrepreneurs in Pune choose an unsecured business loan in Pune as it offers higher flexibility and better benefits. If you have a running business in Pune, you must have adequate funds to invest in every aspect of the business and ensure smooth operations. Here is why you should choose an unsecured business loan.

Quick Approval and Disbursal: Entrepreneurs may witness an urgent need for capital to cover short-term liabilities to avoid defaults. Quality lenders approve a business loan application within 30 minutes of submission, with disbursal within 48 hours.

More Control: When you approach private investors for fundraising, they require you to sell a portion of your company against the funds, which results in lower control. However, as a business loan does not have any such process, you can take a business loan if you want to retain higher control and raise adequate funds.

How To Apply For A Business Loan in Pune

Follow the steps listed below to apply for business loan in Pune with IIFL Finance:

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Visit IIFL Finance’s website and steer to the business loan section.
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Click “Apply Now” and fill out the application form.
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Submit all the relevant documents needed for completing KYC.
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Click the “Submit” button to complete the loan application process.
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After review, IIFL Finance will approve the loan in under 30 minutes and disburse the amount within 48 hours into the borrower’s bank account.