Bhopal the capital city of Madhya Pradesh known as the City of Lakes has a number of industries in operation around the metropolis. Pharmaceuticals, automobiles, textiles, and the production of electrical goods dominate the industrial landscape in and around this city.
Once the scene of the Bhopal Gas Tragedy, when Union Carbide a pesticide manufacturer leaked a deadly gas, the city has been named one of the twenty smart cities. Bhopal has a Mega Skill Park to support IT development being built in the eastern portion of the city.
Declining trends or market instability may cause your business finances to decline, and put your business development plans on hold. Take a look nearby; there are funds obtainable in the form of a Business Loan at reasonable interest rates. Whether you have a plan to acquire real estate or a strategy for infrastructure investment or plan to upgrade plant and machinery or technology, or whether you plan to increase your staff strength, Ruloans has the experience and know-how to see you through every phase to secure for you a hassle-free business loan in Bhopal at no additional costs.
Eligibility Criteria for a Business Loan in Bhopal:
The term Loan Eligibility in broad terms refers to qualifications to avail of a business loan from a bank or an NBFC. Lenders use Eligibility Criteria as a standard to resolve the number of funds to be lent on the basis of your financial credentials such as your business income, financial commitments, etc., subject to your business vintage, which decides your business loan tenure. . Eligibility criteria for Business Loan in Bhopal are listed below.
Age - Your age should be minimum of 21 years, and maximum of 68 years at Loan Maturity.
Nationality - You should be a Resident Citizen of India without having defaulted on any previous loans, and without any Criminal Record.
Credit Score - Your credit score should be 650 or higher.
Eligible Entities - Individuals, SMEs, MSMEs, Sole Proprietorship, Partnership Firms, Public and Private Limited Companies, Limited Liability Partnerships, Retailers, Traders, Manufacturers engaged in Services, Trading, and Manufacturing Sectors.
Business Vintage - The age of your business should be minimum 1 year in profitable operations.
Annual Turnover - The annual turnover of minimum Rs.12 lakhs and above for existing enterprises.
Additional Criteria - You must own a residence, an office, a shop, or warehouse.
Comments