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 ₹75 Lakhs 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 ₹75 Lakhs |
| 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 |
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| Default Charges | 24% per annum |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default 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 ₹75 Lakhs.
- 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
