Get Business Loan in Mumbai
Get the financial support to achieve your entrepreneurial goals!
Mumbai, the ‘City of Dreams’, houses the highest number of millionaires and billionaires in India and has innumerable rags to riches stories. The city that never sleeps, gives hope and dreams to many people who want to become successful.
Mumbai provides countless opportunities for entrepreneurs of the large, medium, and small scale alike. Creating your own success story and expanding your business in the financial capital of India is, however, not easy, as it is an expensive city. Every business requires capital to operate, and obtaining such funds is not always easy for business owners or managers.
These days, getting a Business Loan has become much easier thanks to the government's interest in the growing MSME sector. An unsecured Business Loan in Mumbai is the best way to get the funds that can help you manage and grow your business. If you are a business owner or manager looking for any kind of financial assistance to expand your business in Mumbai, an unsecured Business Loan is an ideal alternative.
At Poonawalla Fincorp, we give wings to your dream and support you with the finances you may need for your business. We offer unsecured Business Loans in Mumbai so that you can grab every business opportunity at the right time and make the most out of it. Our loan offering comes with a competitive interest rate, flexible tenure, and minimal documentation to take your business to new heights.
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Business Loan Interest Rates in Mumbai
Mumbai, also known as ‘commercial capital of India’, is bound to keep you engaged with exciting entrepreneurial opportunities. If you are a business owner in Mumbai, you may fall short of credit options for your enterprise. To help you with quick financing for the same Poonawalla Fincorp has curated attractive Business Loan products for your unique requirements.
You can get an unsecured Business Loan in Mumbai at competitive interest rates. If you have a high credit score, your loan application might get approved quickly and you can also get attractive Business Loan interest rates in Mumbai.
Our Business Loans are packed with features and benefits including flexible repayment tenure, higher loan disbursal amount, an easy and quick loan application process, and minimal documentation requirements.
|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||6 - 36 months|
|Prepayment/Foreclosure Charges||0%* If paid from own sources|
|Stamp Duty||At actuals (as per state)|
|Penal Interest||3% monthly on the defaulted EMI amount|
Eligibility Criteria to get a Business Loan in Mumbai
To get a new Business Loan in Mumbai 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 Mumbai with easy eligibility criteria.
The eligibility criteria for Business Loans in Mumbai are as follows:
22 to 65 years
(during loan maturity)
At least two years
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.
Documents Required for Business Loan in Mumbai:
You don’t have to worry about time-consuming paperwork and running into funding delays because of lengthy document process. 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 Mumbai:
Proof of Address (Aadhar Card/Voter ID Card/Passport)
PAN Card or Director/Proprietor PAN Card
Financial documents (Bank statements/IT Returns)
Business Address Proof (Rent Agreement/Utility Bill)
Note: This list of documents is indicative. We may need some additional documents during loan processing.
Benefits of Taking a Business Loan in Mumbai
Collateral-free Business Loan of up to ₹50 Lakh
Attractive and competitive interest rate
Flexible repayment tenure of up to 36 months
Minimal documentation for quick and hassle-free processing
- Collateral-free Business Loan of up to ₹50 Lakh - There is no need to provide collateral of any kind to avail loan of up to ₹50 Lakh
- Attractive and competitive interest rate - We provide attractive and competitive interest rates for Business Loans. So, you don’t have to look anywhere else when you apply for a Business Loan in Mumbai.
- Flexible repayment tenure of up to 36 months - At Poonawalla Fincorp, we provide a flexible repayment tenure of up to 36 months. This gives business owners enough time to cover various business expenses and pay us back within the repayment period.
- Minimal documentation for quick and hassle-free processing - At Poonawalla Fincorp, we provide loans with minimal documentation, so you get a loan with hassle-free processing and quick approvals. You don’t have to worry about anything else, and instead, focus on the utilization of money for the growth of your business through Business Loans in Mumbai.
Apply for Instant Business Loan In Mumbai within 5 Minutes
Click on Apply Now and enter your contact details.
Enter your annual business turnover and other business details.
The application will then proceed for verification and assessment
Frequently Asked Questions
To apply for MSME/Business Loans in Mumbai, all you have to do is visit our official website and follow the steps mentioned below.
- Go to the dedicated page for Business Loans.
- Go through the eligibility criteria and the documents required for SME/MSME Loans in Mumbai.
- Once you have read the eligibility criteria and gathered the required documents, click on ‘Apply Now’.
- Fill out the online application form.
- Wait for verification and approval.
- Get funds disbursed into your account instantly after authorization from your end.
Poonawalla Fincorp Limited
Address: Unit No. 73, 7th floor, Kalpataru Sqare, Andheri-Kurla Road, Andheri (East), Mumbai - 400059
Contact Number: 1800-266-3201 (Toll Free)
Timing: 10 am – 6 pm
*Terms & Conditions Apply