Documents and eligibility criteria
| ||Proprietorship||Partnership||Pvt. Ltd. / LLP / One Person Company|
|Bank statement (12 months)||✓||✓||✓|
|Business registration proof||✓||✓||✓|
|ITR of the previous two years||✓||✓||✓|
Business loan interest rates and charges
Our business loan interest rates in Mumbai are:
|Customized Interest Rates||Yes|
|Loan Tenure||up to 36 months|
|Pre-closure charges||Nil** after paying the first 6 EMIs|
|Eligibility Criteria||Annual turnover more than Rs.10 lakh|
|Loan Amount||₹ 1 Lakh – ₹ 7.5 Lakh|
Note:- We don't provide a loan for new business in Mumbai.
Business Loans EMI
Equated Monthly Instalments (EMIs) let you pay off a loan in affordable monthly payments. Ziploan offers you a convenient EMI repayment option. You can repay the loan amount between 12 and 36 months.
You can calculate your EMI using our business loan EMI calculator.
How to Calculate Business Loan EMI?
Here is the formula to calculate business loan EMI.
EMI = P × r × (1 + r) n/ ((1 + r) n – 1)
P: Loan amount, r: interest rate, n: tenure in number of months
How to Apply for Business Loan in Mumbai
To apply for a business loan in Mumbai online from ZipLoan, follow these three steps:
- Submit application - Complete our online application to receive a business loan offer.
- Upload documents - Verify your documents in one step by uploading digital copies.
- Get sanctioned - Your business loan will be approved within 3 days* and disbursed.
Types of Small Scale Business Loan in Mumbai
Here are the types of business loans that are available to you:
- Short-term loan: Finance for specific business areas on a short-term basis or for employee salaries or purchasing assets for the business. An owner of a business takes out a term loan to borrow a specific amount of money and repay it with interest over time.
- Business credit line: A specific amount of money is available to the business owner at any time. Similar to a credit card, revolving credit provides a credit that resets once the amount withdrawn is paid in full.
- Equipment financing: To purchase business equipment, or to purchase machinery, a business owner will need funds.
- Invoice financing: Business owners borrow money against customer invoices. A short-term requirement, it helps businesses manage cash flow, pays employees and suppliers, and boosts growth.
Ziploan is a trusted business loan provider in Mumbai that offers a quick business loan for women in Mumbai
with minimal documents.