business loan in chennai

Business Loan in Chennai

Loan up to 50 Lakhs | Low Interest Rates | Quick Disbursal | Easy to Apply

The ‘Gateway to South India’, Chennai is a major industrial hub and cultural center. It is also nicknamed as the ‘Detroit of India’ owing to the presence of one-third of India’s automobile industry.

Modern business infrastructure and a vast talent pool of human capital make Chennai a favorable destination for nurturing and growing businesses. Every business owner requires certain capital to operate and expand their business, and obtaining such funds is not always simple for business owners or managers. Thus, a Business Loan with low-interest rates is the way to get the necessary funding that will help you manage your firm.

Getting a loan for a company has become much easier these days, thanks to the government's interest in supporting the MSME sector. If you are a business owner or manager looking for a loan with a low-interest rate for your firm/ company, a Business Loan in Chennai offered by Poonawalla Fincorp is an ideal alternative.

Therefore, if you are looking for an Unsecured Business Loan in Chennai, Poonawalla Fincorp is here to help. You can avail of our customized Business Loans options, including MSME Loans and SME Loans in Chennai at competitive and low interest rates, flexible tenure, and hassle-free loan disbursal for all your business needs.

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Interest rate varies from lender to lender. Interest rate is influenced by the various factors such loan tenure, credit score, revenue of the business, etc. Poonawalla Fincorp offers attractive interest rate for business who want to thrive in their business. Your EMIs is heavily influenced by the interest rate offered by the lender. Hence, it is important to choose the best suitable interest rate for MSME/SME loans in Chennai. Interest rate for Business Loan starts at 15% p.a. onwards.

Types of fee Applicable Charges
Rate of interest 15% to 28% p.a.*
Processing fees Up to 3% plus applicable taxes
Bounce charges ₹1,000 per bounce plus applicable taxes
Late Payment Charges 3% per month
Loan Amount ₹1 Lakh to ₹50 Lakhs
Lowest EMI per month Starting from ₹3,467* per Lakh for 36 months
Loan Tenure 12 - 36 months
Prepayment/Foreclosure Charges Zero*
Stamp Duty At actuals (as per state)
Penal Interest 3% monthly on the defaulted EMI amount

Qualifying for a new Business Loan with Poonawalla Fincorp is simple. Our loan requirements are designed to save time for borrower when applying for loan. To ensure you have a smooth experience during loan processing, we offer Business Loans in Chennai with simple eligibility requirements.

Below are our eligibility criteria for Business Loans in Chennai:

Age Requirement

Age

22 to 65 years
(during loan maturity)

Citizenship Status

Nationality

Indian

Work Experience Required

Business Vintage*

At least two years

Monthly Salary Required

Annual turnover

More than ₹9 Lakh

  • Age: 22 to 65 years (during loan maturity)
  • Nationality: Indian
  • Business Vintage*: At least two years
  • Annual turnover: More than ₹9 Lakh

*Business vintage determines how long your business has been operating and when it was registered. It is a significant eligibility determinant for procuring an unsecure Business Loans.

*Note: The above-mentioned eligibility criteria are indicative in nature and more information can be asked by Poonawalla Fincorp team during loan processing as per policy.

We require applicants to submit only basic documents. You don’t have to worry about time-consuming paperwork and running into funding delays because of it. With Poonawalla Fincorp, you can access quick financing for your business with minimum documentation.

Below is the list of required documents for availing Business Loan in Chennai:

  • KYC Documents

    PAN Card or Director/Proprietor PAN Card

  • Income Proof

    Business Address Proof (Rent Agreement/Utility Bill)

  • Address Proof

    Proof of Address (Aadhar Card/Voter ID Card/Passport)

  • Financial Documents

    Financial documents (Bank statements/IT Returns)

  • PAN Card or Director/Proprietor PAN Card
  • Proof of Address (Aadhar Card/Voter ID Card/Passport)
  • Business Address Proof (Rent Agreement/Utility Bill)
  • Financial documents (Bank statements/IT Returns)

Note: This list of documents is indicative. We may need some additional documents during loan processing.

  • Collateral free

    Collateral-free unsecured loan of up to ₹50 Lakh

  • Attractive and competitive interest rate

    Attractive and competitive interest rate

  • Instant disbursal loan

    Flexible repayment tenure option of up to 36 months

  • Simple and minimal documentation

    Minimal documentation


  • Collateral-free unsecured loan of up to ₹50 Lakh - No collaterals are required for any loan of up to ₹50 Lakh. The intention behind this is to provide loans to businesses in Chennai to boost the city’s economy and entrepreneurship spirit.
  • Attractive and competitive interest rate - At Poonawalla Fincorp, we provide low interest rates for Business Loans in Chennai; so, you don’t have to look anywhere else when you apply for a loan.
  • Flexible repayment tenure option of up to 36 months - We provide a flexible repayment tenure option of up to 36 months, which gives you enough time to cover your expenses and pay us back in time.
  • Minimal documentation - We provide loans with minimal documentation so you get a loan with hassle-free processing and quick disbursal. You can simply focus on the utilization of money for the growth of your small business through our Business Loan in Chennai.
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Click on Apply Now and enter your contact details.

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Business
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Business Details

Enter your annual business turnover and other business details.

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The application will then proceed for verification and assessment

How to Get a MSM/Business Loan in Chennai?

SME/MSME loan in Chennai is one of the popular business loans offered by the Poonawalla Fincorp. You can get SME/MSME loan in Chennai, by following the below steps:

  • Step 1: Visit www.poonawallafincorp.com and go to the Business Loan section
  • Step 2: Click on ‘Apply Now’
  • Step 3: Fill up the loan application form
  • Step 4: Enter basic details for KYC
  • Step 5: Await verification and application assessment
  • Step 6: Receive confirmation on successful loan approval
  • Step 7: Approve and authorize loan amount disbursal

Poonawalla Fincorp Limited

Address: The Oval, 2nd Floor, Venkatanarayana Road, T . Nagar, Chennai: 600017, Tamilnadu
Contact Number: 1800-266-3201 (Toll Free)
Timing: 10 am – 6 pm

*Terms & Conditions Apply

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