Documents Required for a Grocery Loan
| ||Proprietorship||Partnership||Pvt. Ltd. / LLP / One Person Company|
|Bank statement (12 months)||✓||✓||✓|
|Business registration proof||✓||✓||✓|
|ITR of the previous two years||✓||✓||✓|
Grocery Store Loan Fees & Interest Rates
|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|
ZipLoan – Best Grocery Business Loan Provider in India
The small grocery stores in India require external funds since they often run into problems with their cash flow. Competing with the big players in the market, such as Walmart is not an easy task. Loans for your grocery store business can also be required to run the business efficiently and make good profits. Maintaining good inventory is also important for a grocery store owner to take full advantage of.
In all, grocery store business loans can be very beneficial for the store owner. He can use it in a number of ways to help his business grow. We offer small business loans for a grocery store at the most competitive interest rates in the market. Our different business loan products include MSME loans, machinery loans, shop loans, Flexi loans, term loans, working capital loans, and bakery loans.
Our grocery financing is hassle-free and doesn't need a bundle of documents. That is you are not required to provide us any asset – we offer business loans entirely on the basis of your creditworthiness. Our grocery business loans are designed in a way to help you in your business. All your small business funding for the grocery store is offered online and you can apply for them without visiting our office.
How to Apply for Grocery Store Loan
Here are three steps process to grocery shop loan apply online from ZipLoan:
- Submit Application - Simply enter your personal, business, and financial info to receive a loan offer.
- Upload Documents - Upload digital copies of your documents in a single-step process for verification.
- Get Sanctioned - Receive your business approval and disbursal within 3 working days*.
How to Grow Business with Grocery Business Loan?
The grocery store business loans can be used in the following ways to grow business:
- Working Capital: Almost every business faces a shortage of working capital at some point in time. To ensure this does not affect the everyday work and operations of the grocery store, a loan for a grocery store in India can be availed.
- Inventory Management: Inventory is the most important asset of a grocery store. A small business loan for a grocery store can be used to increase inventory. With more inventory at the show, you will be able to sell more increase in your profits.
- Marketing & Advertising: Advertising and marketing are important in today’s world of cutthroat competition. The growth of the grocery store business is much dependent on its marketing strategies. A loan for a grocery store can be used for the same purpose.
- Business Expansion: Expansion and growth go hand in hand. Expansion of the business brings growth and grocery store financing can be very helpful for the same purpose.