Overview
Manipur has an agriculture-based economy. The state’s income is mainly contributed by handloom, handicraft, and sericulture-based industries. If you are a business owner and need funds to expand your existing business, get a Business Loan in Manipur with Poonawalla Fincorp. Avail of up to ₹50 Lakh with minimal documentation, no hidden charges, and quick disbursal. Apply now!
Business Loan in Manipur EMI Calculator
Our online EMI calculator is a handy tool for calculating your monthly obligations. To use the calculator, enter three values- loan amount, interest rate and tenure, and you will get the EMI amount.
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EMI Amount = *
Interest Rates and Other Charges
Here is a detailed overview of the interest rate and other charges:
| Types of Fee | Applicable Charges |
| Business Loan Interest Rates | 15% p.a. onwards |
| Loan Amount | ₹5 Lakh to ₹50 Lakh |
| Loan Processing Fees | Up to 3% plus applicable taxes |
| Lowest EMI per month | Starting from ₹2,783* per Lakh for 48 months |
| Loan Tenure | 6 - 48 months |
| Prepayment/Foreclosure Charges | 5% on principle outstanding plus applicable taxes |
| Default Interest | 2% per month |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Business Loan in Manipur Eligibility Criteria and Required Documents
Business Loan in Manipur Eligibility Criteria
Here are the eligibility criteria for Business Loan in Manipur:
- Age: Applicant must be between 24 to 65 years.
- Business Vintage: The business must have been operational for at least 2 years.
- Financial Performance: The business must have a minimum annual turnover of ₹6 Lakh.
Note: The above-mentioned Business Loan eligibility list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.
Documents Required for a Business Loan in Manipur
Here are the necessary documents required:
| Document Category | Business Loan in Manipur Documents |
| KYC Documents |
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| Financial Documents | Bank account statement for the last 6 months. |
| Business Address Proof | Utility bills/ Rent agreement. |
Note: The above-mentioned Business Loan documents list is indicative. Additional documents may be required during loan processing.
Features and Benefits of Business Loan in Manipur
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Higher Loan Amount
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Collateral-Free
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Competitive Interest rates
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Minimal Documentation
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Flexible Loan Tenure
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Online Application Process
- Higher Loan Amount: Get up to ₹50 Lakh.
- Collateral-Free: Avail the loan without pledging any collateral.
- Competitive Interest rates: Get interest starting at 15% p.a.
- Minimal Documentation: Provide business address proof, KYC and financial documents.
- Flexible Loan Tenure: Choose repayment tenure of up to 48 months.
- Online Application Process: Apply online from our official website.
How to Apply for a Business Loan in Manipur
Apply for a Business Loan in Manipur in 3 simple steps:
- Step 1: Click on the ‘Apply Now’ button.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan amount will be transferred to your bank account.
Frequently Asked Questions
To avail of a Business Loan in Manipur, you must be aged between 24 and 65 years.
If you need funds, you should opt for a Business Loan to purchase business equipment, expand your business, and meet the needs for working capital.
Yes, women entrepreneurs can apply for a Business Loan.
No, you do not need to pledge your assets as collateral for a Business Loan. However, meeting the eligibility criteria and submitting essential documents is a must.
*Terms & Conditions Apply
