Business Loan Eligibility Criteria
The eligibility criteria for applying for a business loan in Dehradun are:
- The business should be existing from past 2 years
- Minimum 5 lakh of annual banking credit
- Last year ITR of more than INR 1.5 lakh
- Should have ownership of either house or business premises
Business Loan Documents
Following documents are necessary to apply for a business loan from ZipLoan:
Business Loan Interest Charges
Get information about the business loan interest charges and the nominal rates for the ZipLoan business loan
Types of Business Loan Available in Dehradun
The different types of business loan are:
- Term Loan: Term loan is a long term loan which is usually utilized for capital expenditure. The tenure ranges from 3 to 20 yrs. and the loan is available either in fixed or variable rates.
- Working Capital Loan: When the business owner is having short term deficiency of the cash then this type of business loan is taken.
- Equipment financing: Banks & financial institutions in Dehradun provide these loans to the manufacturing enterprises who require loans for purchasing equipment. The loan tenure is around 4 to 5 years.
- Invoice Financing: Invoice financing or discounting is the practice of using a company’s unpaid account receivable as collateral for a business loan. It is a short term form of borrowing.
- Improve Credit History: For a bigger loan amount, it is important to have a good credit history. Hence the business owners ensure that they get short term loans and the consistent repayment of borrowing leads to positive credit history.
How to Get a Business Loan in Dehradun?
You can conveniently avail a business loan in Jaipur by following these simple 4 steps:
- Apply Online: Duly fill the business loan application form on our website to apply for a small business financing in Dehradun. You can also download the ZipLoan Android App from the Google Play Store and apply for easy business loans in Dehradun.
- Submit Required Documents: After applying for loans for small business in Dehradun, submit the PDFs of the required documents.
- Approval of Business Loan: Our representative will process your business loan application within a few hours after you submit it. We have our own holistic credit evaluation process, ZipScore.
- Business Loan Disbursement: Our business loan disbursement process is very quick and we disburse the business loan in Dehradun within a few hours after you sign a contract with us.
Business loan for Women
To encourage more women entrepreneurs to apply for a business loan, there are many schemes to get cheaper business loans and make their dreams into reality. Some of the schemes are:
- Stree Shakthi Package
- Annapurna Scheme
- Scheme by Bharati Mahila Bank (Now subsidiary of State Bank of India)
- Dena Shakti Scheme by Dena Bank
- Udyogini Scheme by Punjab & Sind Bank
- Mudra Loan for Women