Shop Loan Eligibility Criteria:
The eligibility criteria for shop loan of ZipLoan are:
- The applicant must be a citizen of India.
- The business should have a vintage of at least two years.
- The shop must have owned by the borrower.
- The minimum turnover should be more than 10 Lakh.
- Last year's ITR should be more than 1.5 lakh.
Documents Required for Shop Loan
The documents needed for Kirana store loans are minimal - all we need:
- Applicant's passport size photograph
- Applicant's PAN Card and Aadhar Card
- ITR of the previous two years
- Previous nine months’ bank statement
- Business place address proof
- Business registration proof
Shop Loan Fees and Interest Charges
|Customized Interest Rates||Yes|
|Loan Tenure||up to 36 months|
|Pre-closure charges||Nil** after paid the first 6 EMIs|
|Eligibility Criteria||Annual turnover more than Rs.10 lakh|
|Loan Amount||₹ 1 Lakh – ₹ 7.5 Lakh|
How to Apply Online Business Loan for a Shop
Here is how to apply business loan for shopkeeper:
- Submit Application: Submit your dukan loan application online through ZipLoan App or website. One of our sales executives will get back to tell you and will explain about tenure, interest rates, and repayment details, etc.
- Upload Documents: You will have to upload some documents to process further. Our team will check the documents if everything right.
- Disbursal: The fund will get disbursed to your account within 3 days* after your loan for shop will approve.
How Can a Shopkeeper Use a Shop Loan?
A shopkeeper can use the loan for a shop in a number of ways:
- Buy A New Shop: Many times a shopkeeper wants to expand his business but couldn't because of less funds. You can use our loan for new shop purchases.
- Increase Inventory: A loan for shopkeepers can help shop owners to increase their inventory with new and high-quality products.
- Renovate Shop: With the help of shop business finance, you can renovate your shop and make it up-to-date. A shop with a better appearance and perfect product placement catches the customers’ attention and increases brand awareness.
- Increase Working Capital: A lack of working capital is very common for businesses and so for retail shops. A shopkeeper loan can help you increase your working capital and meet your everyday expenses.
ZipLoan - Quick & Easy Shop Loan Provider in India
If you are wondering how to get a business loan for a shopkeeper? Then worry not! Apply for a shop loan online with ZipLoan and get the funds at the best business loan interest rates. ZipLoan offers quick shop loans on easy-to-meet terms and conditions.
We have so far offered a business loan to more than 2000+ small businesses, including traders, manufacturing units, service providers, chemist and pharmacy shops, and vegetable vendors. We offer a loan for shops in Delhi, Gurgaon, Noida, Indore, Jaipur, and many other cities in the country.
Our shop loan calculator will help you to calculate shop loan EMI to get you an idea about the monthly instalments. With our shop loan, you can expand your shop faster than before because you will have enough funds to manage your inventory, hire a salesperson, and opening a shop.
We strive to build enduring relationships with our customers. Our vision is to expand across India and cater to a large number of businessmen whose credit needs have not been met.