ZipLoan - Quick & Easy Shop Loan Provider in India
ZipLoan offers quick shop loan on easy to meet terms and conditions. We have so far offered a collateral-free 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 the shopkeeper in Delhi, Gurgaon, Noida, Indore, Jaipur, and many other cities in the country.
Our shop loan calculator helps us to calculate the eligibility of the shopkeeper and we offer shop loan at very customer-friendly policies. You can calculate the EMIs through the business loan EMI calculator for commercial shop loan and repay the shop loan in easy monthly instalments. Our shop loan interest rates are very competitive and we offer business loan fast approval. 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.
Features and Benefits of ZipLoan Shop Loan
Our shop loan is ideal for small businesses like grocery shops, Kirana shops, medical shops, ready-made garment shops, etc. Top features of Business Loan for Shopkeepers are -
- Interest Rates: Our business loan interest rates for shopkeepers are the best in the market. We only charge 1 to 2% of the shop loan amount as processing fee and do not have any hidden charges.
- Collateral-Free Shop Loan: All our shop loan offers are without security. We ensure that all the small business units have access to a loan for shopkeepers who can not provide collateral in terms of an asset having some monetary value.
- No Pre-payment Penalty: We do not levy any penalty on the pre-payment of the unsecured business loan after the payment of 6 EMI (excluding pre-EMI).
- Online Business Loan Application: Our online business loan application form is the best answer to how to get a business loan? The borrower can apply for a shop loan online on our website or the ZipLoan Android App to avail a shop loan with ease.
- Minimum Documents: We don't need a bundle of business loan documents to avail a business loan for the shop.
- Fast Disbursal: Online business loan application process have made the entire process faster. After getting the required documents we disburse the loan within 3 days*.
- Flexible Tenure: The tenure for loan is customizable. You can choose the best tenure as per your need. You can repay the loan amount within 36 months.
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.
- Minimum turnover should be more than 10 Lakh.
- Last year ITR should be more than 1.5 lakh.
Documents Required for Shop Loan Without Security
The documents needed for Kirana store loans are minimal; you simply need to upload the PDFs of the followings on our instant loan App:
- Passport size photograph
- PAN Card and Aadhar Card
- ITR copy
- Previous nine months’ bank statement
- Business place address proof
- Residence address proof
Shop Loan Fees and Interest Charges:
Fees and interest rate that you would have to pay when you avail shopkeeper loan from ZipLoan:
|Rate of Interest||1% to 1.5% (Flat Rate)*|
|Tenure of the loan||Maximum up to 36 months|
|Amount of Loan||Rs. 50,000 to 7.5 Lakhs|
|Pre-Closure Fees||N/A (After Payment of 6 EMI)|
|Processing Charges||1 to 2% of the loan amount|
|Loan Disbursal Time||Within 3 working days*|
|Eligibility||Last year turnover should be more than 10 lakh|
How to Apply Online Business Loan for a Shop:
Here is how to apply business loan for shopkeeper:
- Submit Application: Submit your 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 will be right then your loan will get approved.
- Disbursal: Once your loan approved, the loan amount will get disbursed to your account within 3 days*.
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: There are many times when a shopkeeper witnesses expansion opportunities but could take any benefit of it due to lack of finances. With a collateral-free shop loan, you can buy a new shop and expand your business.
- Increase Inventory: Inventory is the most important thing for a shopkeeper. However, it is also the biggest expense for the shopkeeper. A loan for shopkeepers can help you increase your inventory with new and high-quality products.
- Renovate Shop: With the help of an unsecured business loan, you can renovate your shop and make it up-to-date. A shop with better appearance and perfect product placement catches the customers’ attention and indirectly helps in marketing.
- Increase Working Capital: A lack of working capital is very common for businesses and so for retail shops. A business loan for shopkeepers can help you increase your working capital and meet your everyday expenses.
If you are wondering on how to get a business loan for shopkeeper? Then worry not! Apply for a shop loan online with ZipLoan and get the funds at the best business loan interest rates.