Business Loan Eligibility Criteria
The eligibility criteria for applying for a business loan in Jaipur are:
- The business should be in operation for at least 2 years
- Minimum 5 lakh of annual banking credit
- Last year ITR of more than INR 1.5 lakh
- Either house or business premises should be self –owned
Business Loan Documents
Following documents are necessary to apply for business loan from ZipLoan:
Business Loan Interest Charges
Get knowledge about the business loan interest charges and the nominal rates for the ZipLoan business loan
Types of Business Loan Available in Jaipur
The different types of business loan are:
- Short Term Loan: the loan required for business owners for specific business areas for a short period or for the regular working capital need, employee salaries or purchase business assets. In a term loan, a business owner borrows a specific amount of money upfront and pay back the money with interest on a certain repayment schedule.
- Working Capital Loan: when the current liabilities of the business is more than the current assets then the business has to take a loan to cover the difference between the current asset and current liabilities.
- Business Credit Line: Business owner gets access to the specific amount of money that can be drawn from any time as required. Generally revolving credit facility is provided where the credit line resets after amount withdrawn is paid in full just like in credit card.
- Equipment Financing: Funds are required by the business owners who need to purchase business equipment or machinery
- Invoice Financing: Business owner borrows money against the amount due from customers. It is a short term requirement that helps businesses to improve cash flows, pay employees and suppliers, and manage business operations and growth.
- Micro Loans: It is a type of small finance offered to low-income families who have no or less access to the financial institutions
- Overdraft facility: It is a facility that enables small business owners to withdraw money from their bank’s current account, even if the balance is nil
How to Get a Business Loan in Jaipur?
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 Jaipur. You can also download the ZipLoan Android App from the Google Play Store and apply for easy business loans in Jaipur.
- Submit Required Documents: After applying for loans for small business in Jaipur, 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 Jaipur within a few hours after you sign a contract with us.
Business Loan for Women Entrepreneurs
Nowadays, doors are also open for women entrepreneurs to get attractive business loans. These schemes are exclusively for women as the loan is available at a lower interest rate and without collateral security. Women entrepreneur also gets assistance on training, counselling and consulting regarding knowledge of marketing and advertising their product.
