Business Loan in Manipur

Business Loan in Manipur

Up to ₹50 Lakh | Quick Disbursal | Minimal Documentation

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!

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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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 ₹1 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 0%* If paid from own sources & 4% If paid from other sources
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
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Business Loan in Manipur Eligibility Criteria

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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.

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Documents Required for a Business Loan in Manipur

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Here are the necessary documents required:

Document Category Business Loan in Manipur Documents
KYC Documents
  • Company’s PAN Card/Aadhaar Card/Driving License/Voter ID/Passport, Director/ Proprietor/ Partner PAN Card/Aadhaar Card/Driving License/Voter ID/Passport.
  • Proprietor/ Partner/ Director PAN Card/Aadhaar Card/Driving License/Voter ID/Passport, Electricity bill, Rent Agreement.
  • Personal documents- All individuals/ Partners/ Director- PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport, officially valid documents, and proof of address.
  • Business documents- Business registration proof + Business address proof (if not the same as business registration proof).
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.

  • Higher Loan Amount

    Higher Loan Amount

  • Collateral-Free

    Collateral-Free

  • Competitive Interest rates

    Competitive Interest rates

  • Minimal Documentation

    Minimal Documentation

  • Flexible Loan Tenure

    Flexible Loan Tenure

  • Online Application Process

    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.

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.

What is the required age limit to avail of a Business Loan in Manipur?

To avail of a Business Loan in Manipur, you must be aged between 24 and 65 years.

Why should I opt for a Business Loan in Manipur?

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.

Are women entrepreneurs eligible for a Business Loan in Manipur?

Yes, women entrepreneurs can apply for a Business Loan.

Is it necessary to pledge my assets to avail 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

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