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Business Loan

 

About Government Contractors Loan

Business is not an easy game to play. There are ups and downs in every phase of business and to tackle the situations, you often need cash.

Be it to revamp your current business or to start a new venture, business loans are helpful in all scenarios. They help you give your business a boost so that you expand your business and enjoy more and more profits. In fact, business loans act as a book when you need liquid cash on a short notice.

Sugmya Finance offers customers loans suitable to your own personal business plans. We take very less time to check your credit score to ensure the process of your loan is fast and hassle free. We provide tips to make sure you choose the best loan option that will make your life easy and free of worries.

We never oversell or pressurize our customers and give them the best solutions suiting as per their needs. We offer flexible EMI options so that our customers can comfortably repay the loan amount they have issues in their name. We ask for a guarantor or collateral in the rarest of rare cases.

 

Some of the Main Reasons for Opting for Business Loans:

  • Business cash flow increase
  • Pay for lease of a bigger office place
  • Renovate or revamp your old, current, or new office
  • Make payment of your newly purchased equipment or machinery
  • Make an uplift to newer technology
  • Stock up your inventory
  • Appoint seasonal workers o employees
  • Buy raw materials in bulk
  • Open an office in another city or another office in the same city
  • Increase the level of your operations, take up more projects
 

The following people are eligible to opt for business loans:

Proprietors, self-employed individuals, partnership, private Ltd. Co. who are involved in the manufacturing, services, or trading business. The business of the individuals should have been functional for about 3 years and making a minimum profit for about 2 years. Also, a minimum annual income of Rs. 1.5 lakh is preferred. The people applying for a loan should be at least 21 years and not more than 65 years of age.

Documents required for Business Loan Application:

  • Address Proof: Aadhar Card, Voter ID Card, passport, driving license.
  • Age Proof: Aadhar Card, Voter ID Card, passport, driving license, PAN Card.
  • Bank statement of the last 6 months. ITR statement of the last 2 years.

Also, the loan seeker would should be able to provide certificates of deed of partnership, copy of memorandum and articles of association and board resolution.

The amount of business loan that a loan seeker can avail depends on a few criterions. Firstly, his history with previous loans, if or not he or she has a history of repaying the amount on time. Also, the ability to repay the loan amount that the loan seeker wishes to avail is kept into consideration.

If you are a new businessman or an experienced businessman wanting to expand your business, availing a business loan would be an ideal option for you. For more consultation on business loans, contact Sugmya Finance and we will guide you in the best way possible.

Apply For Government Contractors Loan