Get Business Loan in Indore
The financial support to achieve your entrepreneurial goals!
Often called the street food city of India, Indore has grown in leaps and bounds to its current state since its days of being a trading hub between the Deccan and Delhi. The commercial hub of Madhya Pradesh has plenty of opportunities to grow in business, finance, technology, and leisure. The presence of economic zones, good connectivity, and human capital talent pool makes Indore a viable location for setting up a business. It also happens to be one of the most progressive Tier-2 cities in the country.
Indore is home to a plethora of industries and educational institutions, making it an appealing destination for aspiring entrepreneurs. However, due to a lack of capital, many firms may find it difficult to grow. Nevertheless, with a quick Business Loan in Indore, these firms can match up and even outperform the competition in no time.
Your capital requirements should not be a hindrance to your business plans. With Poonawalla Fincorp Business Loan in Indore, you can avail of a high value Business Loan of up to ₹50 Lakh and take your business to new heights. You also get to enjoy a host of benefits, such as competitive interest rate, flexible tenure, minimal documentation, and much more.
Business Loan EMI Calculator
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Business Loan Interest Rates in Indore
An MSME Business Loan in Indore is an excellent option for small businesses in the city to expand their operations. However, many worry about the interest rates charged on such financial products. Since the loan interest rates determine your loan EMIs, it is important to choose your lender wisely. This is where we can offer the right assistance.
One of the biggest advantages of getting a Business Loan in Indore from Poonawalla Fincorp is its affordable interest rates. With us, you can get the right Business Loan for your enterprise and help it soar to new heights.
| Types of fee | Applicable Charges |
| Rate of interest | 15% to 28% p.a.* |
| Processing fees | Up to 3% plus applicable taxes |
| Repayment Instrument Dishonor Charges | ₹1,000 per bounce plus applicable taxes |
| Default Interest | 3% per month |
| Loan Amount | ₹1 Lakh to ₹50 Lakhs |
| 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 |
| Stamp Duty | At actuals (as per state) |
| Penal Interest | 3% monthly on the defaulted EMI amount |
Eligibility Criteria for Business Loan in Indore
A Small Business Loan in Indore is easily accessible and comes with basic eligibility criteria for MSME business owners. All you must do is to check the prerequisites for loan eligibility, and you are good to go. You need to fulfil the following criteria to be eligible for a Small Business Loan in Indore:
Age
22 to 65 years
(during loan maturity)
Business Vintage
At least two years
Annual turnover
Must be at least ₹9 Lakh
- Age: Applicants must be at least 22 years at the time of loan application and up to 65 years at loan maturity.
- Business Vintage: The applicant’s business must be in operation for at least 2 years at the time of applying.
- Annual Turnover: The annual turnover of the applicant’s business must be at least ₹9 Lakh.
Documents Required for a Business Loan in Indore
When you are applying for a Business Loan in Indore, you need to submit some basic documents for background verification. Lenders use these to check your professional, personal, and financial background and ascertain your ability to repay the loan.
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KYC Documents
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Business Address Proof
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Financial Documents
You need to submit the following documents when applying for a Business Loan in Indore:
- KYC Documents: Company PAN Card, Director/Proprietor/ Partner PAN Card, Aadhaar Card, Passport, Driving Licence, Voter ID, Electricity Bill/Rent Agreement, Personal Documents, and Business Documents.
- Business Address Proof: Utility Bills or Rent Agreement
- Financial Documents: Bank account statements from the past 6 months.
Benefits of Taking a Business Loan in Indore
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No security or collateral involved
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High loan amount of up to ₹50 Lakh
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Flexible repayment tenure
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Simple documentation
- No security or collateral involved - At Poonawalla Fincorp, we provide unsecured Business Loans in Indore which help you in growing your business. You don’t have to worry about collateral to avail of this loan.
- High loan amount of up to ₹50 Lakh - We provide both MSME/SME Loans in Indore with a high loan amount of up to ₹ 50 Lakh.
- Competitive interest rate - We offer attractive and low interest rates for Business Loans in Indore. You don’t have to look anywhere else for a loan with low interest rates when you apply for a loan with us.
- Flexible repayment tenure - At Poonawalla Fincorp, we provide a flexible repayment tenure of up to 48 months, with enough time to pay us back in time.
- Simple documentation - We provide loans with minimal documentation so you get a loan with hassle-free processing and quick approvals. You can simply focus on the utilization of money for the growth of your small business through our Business Loan in Indore.
At Poonawalla Fincorp, we help you to address the capital need for your business and make the most of your business opportunity. Our flexible, easy, and quick Business Loan offering is designed to help entrepreneurs flourish in Indore.
Apply for Instant Business Loan in Indore within 5 Minutes
Apply
Online
Apply Online
Click on Apply Now and enter your contact details.
Business
Details
Business Details
Enter your annual business turnover and other business details.
Verification
Verification
The application will then proceed for verification and assessment
Frequently Asked Questions
MSME/Business Loans in Indore can be applied for easily if you meet the simple eligibility criteria and submit basic documents.
Simply follow the steps mentioned below to apply for a Business Loan in Indore:
- Visit our website and click on ‘Business Loan for MSME’
- Click on ‘Apply Now’ and fill out the application form
- Enter the required details
- Our representative will get in touch for documents and any additional requirements
- Wait for further application processing
- Get your loan approval post successful verification in a quick turnaround time
- Authorize disbursal and receive the loan amount in your bank account
Poonawalla Fincorp Limited
Address: 5th Floor, Metro Tower, B-2, PU-4, Scheme No.54, Vijay Nagar, Indore: 452010
Contact Number: 1800-266-3201 (Toll-Free)
Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays.)
*Terms & Conditions Apply
