Kolkata, which is West Bengal’s capital city, has a rich history from the British era and is the most populated metropolitan city in India. Geographically equipped for business, Kolkata has the Ganges passing through and a long coastline which enables the import and export industries. The retail industry in the city is booming because of fine artistry in textile, leather, food items and jewellery and being the financial centre of Eastern India. Kolkata also provides for government support and optimum business environment, which is why you can plan a loan to help your business thrive.
Benefits of Taking Business Loans in Kolkata
Opportunities for export on a global and pan-India level can be pulled through by the right kinds of business loans.
Lenders are interested to see further business growth and offer hassle free loans.
An increasing need for loans in the SME businesses has increased supply with efficient and swift loan processing.
Business loans can be given to:
- Limited Liability Partnerships
- Proprietary Firms
- Self Employed People
- Minimum twenty-one years
- Maximum sixty-five years
Business has to b profitable for a minimum of one year.
- PAN Card in Copy (of person/company)
- Identity Proof (anyone amongst Card, Voter ID, Passport, AADHAR, Driving License or PAN Card.
- Address Proof (anyone amongst Driving License, AADHAR, Voter ID, Passport)
- Bank statements ranging from the past six months
- ITR Statement of the past year
- Balance Sheet that is Audited
- P&L statement
- Ownership Declaration
- Attorney Power
- Miscellaneous documents needed by the NBFC, bank or the lender.
Charges/Rates of Interest
Rates of Interest for MSME or SME businesses get calculated based on the following criteria:
- CIBIL Score
- Net Worth
- Business Profitability
- Cash Flow
- Working Capital
- Inventory Ratios
- Tenure of loan.
Usually, longer-dated loans have lower EMI, whereas quicker business loans have higher EMI.
Interest Related Information:
Nature of Charges and Their Description:
- Stamp Duty And Other Statutory Charges:
As per applicable state law.
- Interest Rate Fees:
It starts with a monthly 1.5%. The interest rate for each loan gets determined based on business evaluation loan amount, tenure, financial considerations etc.
- Processing Fees:
Starts at 2 to 3% (One Time).
Benefits of Taking Business Loans at Lendingkart:
- Lendingkart offers extremely convenient ways of applying for business loans. We provide for our customer’s innovative solutions, such as completely paperless application.
- No worries of losing documents, the form can be filled online and scanned images of documents uploaded. Loan approval happens in lesser than forty-eight hours.
- Provision of loans free from collateral, which are hundred per cent unsecured.
- No hidden charges and are as well as complete transparency.
- Maximum Lending Capacity for loans will be Rs. 2 Cr.
- Lendingkart provides you with complete ease of access to your loan. We want growth for your business in accordance with your vision.