Benefits of Textile Industry Loan
The following are the benefits of availing of the textile business loan.
- Manage working capital efficiently - The fund Ziploan provides will help you manage your working capital flow.
- Business expansion - With a quick textile loan you can get ahead with production, product making, supplies, and marketing.
- Increase Credibility - Textile business loan allow you make your delivery on time, that increases your trust and credibility among clients.
Eligibility Criteria of Textile Loan
Our textile loan eligibility criteria are simple to let more and more business individuals avail of the loan amount.
- An established MSME with a proven business vintage of more than two years.
- Minimum annual turnover of Rs. 10 lakhs in the previous year.
- The business must not have any default history.
- The ITR filed during the last year should be more than Rs. 1.5 lakhs.
- The borrower should own either house or a business place.
Documents Required for a Textile Industry Loan
| ||Proprietorship||Partnership||Pvt. Ltd. / LLP / One Person Company|
|Bank statement (12 months)||✓||✓||✓|
|Business registration proof||✓||✓||✓|
|ITR of the previous two years||✓||✓||✓|
Textile MSME Loans 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|
How to Apply for MSME/SME Loan
Here are three steps process to textile loan apply online from ZipLoan:
- Submit Application - Simply enter your personal, business, and financial info to receive a textile loan offer.
- Upload Documents - Upload digital copies of your documents in a single-step process for verification.
- Get Sanctioned - Receive your business loan approval and disbursal within 3 working days*.