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Looking for a business loans in Chennai? To qualify for a loan, Our Eided Services has set clear Eligibility Criteria For Business Loan In Chennai. Ensure your business meets these requirements to receive quick approval and flexible terms for your business needs. Apply today!
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Legal Entity
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The business must be registered as a Sole Proprietorship, Partnership, Pvt Ltd, Limited Company, LLP, or Corporate in order to be eligible for a loan.
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Business Experience
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A minimum operational period of 2+ years, with relevant industry expertise, is necessary for loan approval.
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Revenue Requirement
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Monthly GST sales should be ₹30,00,000 or higher to qualify for a loan.
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Financial Stability
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The business should exhibit stable financial performance or consistent profitability to strengthen loan application.
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Credit Score Requirement
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A personal and business credit score of 700+ is generally required for loan consideration.
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Business History
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A strong and well-documented track record can improve the chances of loan approval.
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Age Criteria
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Applicants must fall within the age range of 21 to 65 years old to be eligible for a loan.
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Collateral Requirement
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Secured loans may require collateral, particularly for amounts exceeding ₹5 crore.
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When applying for a business loan in Chennai, it’s essential to have the right paperwork. KFIS Proffesional Finance Service outlines the Document Required For Business Loans In Chennai, making the process smooth and hassle-free. Ensure all necessary documents are ready for a quick approval.
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PAN Card Requirement
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Mandatory for all entities - companies, firms, or individuals - submitting an application.
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Identity Verification
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Valid ID options include Aadhar Card, Passport, Voter’s ID, PAN Card, or Driving License.
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GST Documentation
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Submission of monthly GST returns covering the previous 12 months.
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Proof of Address
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Verification can be done using Aadhar Card, Passport, Voter’s ID, or Driving License.
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Bank Statements
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Provide statements for the last 12 months.
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Income Tax and Financial Records
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Latest Income Tax Returns and financial statements from the last two years (must be CA certified or audited).
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Business Continuity Proof
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Relevant documents such as ITR, Trade License, Establishment Certificate, or Sales Tax Certificate.
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Additional Required Documents
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Includes Sole Proprietor Declaration, Partnership Deed, Memorandum & Articles of Association, Board Resolution, and MSME & GST Registration.
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When applying for a business loan, it’s essential to understand the Interest Rate For Business Loans In Chennai. Our Techy Expert Choose Us competitive rates to help businesses in Chennai secure the funds they need at affordable terms. Apply now for more details.
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Read MoreYou can apply for an unsecured business loan through Kfis’s online portal, by visiting a branch in Chennai, or contacting their customer service team. Required documents will need to be submitted to assess your business’s eligibility.
MSME loans can be applied up to INR 5 crore without any security & upto 150%* (OR) maximum finance on security value depending on the size, financials, and growth potential of your business. The loan amount is tailored to the business’s needs and ability to repay.
For secured business loans, the LTV ratio depends on the value of the collateral provided. Typically with the help of our services the LTV ratio of up to 80% of the asset’s value.
To improve your chances of approval, maintain a good credit score, provide clear and accurate financial documentation, by increasing your monthly sales volume and create a detailed business plan. KFIS Experts Service will assist with optimizing your loan application process.
With 20+ years of experience, Kfis Experts leverages strong industry relationships and deep knowledge to secure the best interest rates. They assess your business profile, negotiate with multiple lenders
MSME loans in Chennai include working capital loans, term loans, machinery loans, and collateral-free loans. Kfis Experts Service helps businesses determine which type of loan best suits their needs, considering their industry and growth plans.
KFIS, 32/N4, Jawaharlal Nehru Salai, Ekkatuthangal, Chennai 600032
