Effortlessly Avail a Business Loan in Chennai
Chennai, the cultural capital of Tamil Nadu, is a thriving metropolitan city with a rich heritage and a booming industrial sector. A vast business infrastructure makes it a favourable city for growing a business.
Poonawalla Fincorp offers Business Loan financing options to entrepreneurs for business expansion, inventory, software or equipment purchase, hiring, managing cash flow, etc in Chennai. Get a Business Loan amount of up to ₹75 Lakhs at an attractive interest rate, minimal documentation, quick approval, and flexible repayment tenure. Apply now!
Why Choose Poonawalla Fincorp
High LoanAmount
Collateral-free Loan
Competitive Interest Rate
MinimalDocumentation
QuickApproval
Flexible Repayment Tenure
Business Loan EMI Calculator
Plan your monthly repayment hassle-free with our online Business Loan EMI calculator. Just enter loan tenure, amount, and Business Loan interest rate. Try Now!
Apply for a Business Loan Online in Just 3 Steps
Click on "Apply Now”
Tap the "Apply Now" button to initiate your application.
Enter Details
Enter your DOB, PAN card number, monthly income, and residential details.
Upload Documents
Upload the necessary documents for quicker approval.
On successful verification, the loan amount will be disbursed into your bank account instantly.
Eligibility Criteria for a Business Loan in Chennai
Meet our simple eligibility criteria:
- Age: Between 24 and 65 years.
- Citizenship: Indian.
- Business Vintage: At least 2 years.
- Annual Turnover: Minimum of ₹6 Lakh.
Documents Required for Business Loan in Chennai
Submit the essential documents while applying:
- KYC Documents
- Business Address Proof
- Financial Documents
Click to know more about the documentation in detail.
Interest Rate and Charges for Business Loan in Chennai
We offer Business Loan with affordable interest rate and nominal charges:
After 6 EMIs: 5% on principal outstanding + taxes
Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf
*T&C Apply
Different Uses of a Business Loan in Chennai
A Business Loan can help to meet business expenses such as:
- Expanding business premises
- Launching new products or services
- Replenishing inventory
- Purchasing equipment and tools
- Paying off debts
- Funding a marketing campaign
- Managing working capital
- Meeting financial constraints
Who Can Get a Business Loan in Chennai
In Chennai, Business Loan can be availed by the following:
- Women entrepreneurs
- Sole proprietors
- Small business owners
- Retail shop owners
- Partnership firms
- Trusts
Tips for a Successful Business Loan Application
Here are some tips for a successful Business Loan application:
- Understand your business needs
- Check credit history
- Have a detailed business plan
- Organise your financial statements
- Ensure you meet the eligibility criteria
Poonawalla Fincorp Branch Address in Chennai
Poonawalla Fincorp Limited
Address: 2nd Floor, The Oval Tower, Venkatanarayana Road, T.Nagar, Chennai Tamil Nadu-600017
Contact Number: 1800-266-3201 (Toll Free)
Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays)
Happy Customers, Happy Us
I run a chain of pharmacy stores with 5 branches in Pune. With the growing popularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficult for me to hire delivery persons. With Poonawalla Fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan application process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operation seamlessly.
Business Loan
The interest rates were fair and competitive, making it easy to manage cash flow for me. The process was smooth with the service and giving a rating of 10.
Business Loan
I was hesitant at first, but the team explained everything clearly and made me feel confident. The loan helped me manage working capital and grow my business steadily.
Business Loan
I was impressed by how quickly my business loan was processed. The team was extremely helpful and guided me through every step. Thanks to their support, I was able to expand my operations without any hasstle.
Business Loan
The loan process was incredibly smooth, and the team was always available to answer my queries. With the funds, I was able to renovate my store and attract more customers. Truly grateful.
Business Loan
Getting a business loan felt daunting at first, but the entire experience was smooth and transparent. The loan helped me purchase new equipment and increase production. Highly recommend their services!
Business Loan
Excellent service and prompt communication. The loan process was seamless, and the funds were disbursed faster than expected. It’s great to work with professionals who understand business needs.
Business Loan
I needed quick funding to stock up for the festive season, and the business loan came just in time. The Credit Manager was proactive and ensured everything was done on priority. Excellent service!
Business Loan
Thanks to the business loan, I was able to open a second outlet. The team was very supportive and explained all terms clearly. I appreciate the personalized attention I received.
Business Loan
I’ve taken loans before, but this was by far the most professional experience. The documentation was minimal, and the disbursement was fast. I’ll definitely recommend them to fellow entrepreneurs.
Business Loan
The loan helped me bridge a critical cash flow gap during the festive season. The team was approachable and ensured everything was handled efficiently. Great experience!
Business Loan
The business loan helped me hire skilled staff and improved my business. The support from the credit team was outstanding. They understood my business and offered the right solution.
Business Loan
I am very happy with the service of the company and will recommend everyone to take loan from Poonawalla Fincorp.
Business Loan
The loan process was quick and transparent. No hidden charges, and the team guided me at every step. Will recommend everyone.
Business Loan
They didn’t just give me a loan—they gave me peace of mind during a tough time, Happy with the service of Poonawalla Fincorp.
Business Loan
No hidden charges, no surprises. The process was clear and smooth from start to finish.
Business Loan
The team guided me at every step and made the entire experience stress-free, will highly recommend to my friends - rating 10!!!
Business Loan
They tailored the loan to fit my business model. Truly customer-focused and satisfying service given by Poonawalla Fincorp, Highly Recommended!!!
Explore Different Types of Business Loans to Suit Your Needs
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Frequently Asked Questions
Here are the benefits of a Chennai business loan, particularly for small and medium businesses:
- Competitive interest rate
- Collateral-free loan
- Hassle-free online application process
- Minimal documentation
- Flexible loan tenure
- No hidden charges
Get a Business Loan in Chennai in three easy steps:
Step 1: Click on “Apply Now”.
Step 2: Fill out the application form.
Step 3: Upload the required documents.
Upon successful verification, the loan amount will be credited to your bank account.
With our EMI calculator, you can efficiently plan your monthly repayments. To do so, you just have to enter the business loan amount, rate of interest, and tenure. Hit the ‘Calculate’ button to check the payable EMIs.
Unsecured loans provide fast access to funds without needing high asset values. These loans are best suited for individuals who don’t want to risk assets or go through lengthy approval steps. They also involve minimal paperwork and flexible usage, making them convenient for quick needs.
Small businesses often face short-term gaps between income and expenses, especially during off-seasons or delayed payments. A Business Loan can help maintain working capital and cash flow for regular operational costs. It ensures timely payments for salaries, rent, inventory, and utilities without disrupting daily operations.
People often opt for secured loans when they want better loan terms or access to larger amounts by pledging collateral. Secured loans typically have a lower rate of interest than unsecured loans.
This makes them appealing for long-term needs, such as purchasing property or funding major expenses.
Unsecured Business Loans usually attract a higher rate of interest due to the higher risk for lenders. This compensates for the increased chances of default compared to secured lending options. Since there's no collateral involved, lending institutions rely heavily on the borrower’s credit profile and repayment history.
The key distinction lies in the need for assets; secured loans are backed by property or equipment as collateral, which is attractive to existing customers. As a result, secured business loans often come with lower rates and higher borrowing limits than their unsecured business loans.
Yes, you can customise your loan tenure based on your projected flow of income.
Yes, the business loans offered by some financial institutions are considered unsecured or collateral-free business loans.
A CIBIL score of 750 and above is considered a good score for availing of a Business Loan.
Yes, some NBFCs like Poonawalla Fincorp offer flexible repayment tenure.
Business loan interest rates are calculated based on several factors, primarily including the applicant's creditworthiness, the loan type, the loan amount, and the loan term. Lenders also consider the business's financial health, industry risk, and market conditions when setting the rate.