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Understanding the eligibility criteria for business loans in Madurai is essential for approval. KFIS Consultancy provides expert assistance in meeting the requirements. A good CIBIL score, stable business operations, and required documentation are key factors in qualifying. Ensure you meet these guidelines for a successful loan application.
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Legal Registration Requirement
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The business must be legally registered as a Sole Proprietorship, Partnership, Pvt Ltd, Limited Company, LLP, or Corporate entity.
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Business Duration
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A minimum of 2+ years in operation and experience in the relevant industry is necessary.
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Revenue Criteria
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The business should have monthly GST sales of ₹30,00,000 or more.
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Financial Performance
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The business must exhibit a stable financial performance or consistent profitability.
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Credit Score Criteria
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A personal and business credit score of 700+ is typically required.
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Business History
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A strong business track record increases the chances of loan approval.
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Age Criteria
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Applicants must be between 21 and 65 years old.
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Collateral Requirement
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Secured loans may require collateral, especially for amounts over ₹5 crore.
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To apply for a business loan, understanding the document required for business loans in Madurai is crucial. KFIS Professional Services guides you through this process. Common documents include bank statements, tax returns, proof of business ownership, and identity verification. Ensure all documents are accurate for a smooth application process.
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PAN Card
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Mandatory for the applicant, whether a company, firm, or individual.
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Identity Documents
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Aadhaar Card, Passport, Voter’s ID, PAN Card, or Driving License are accepted for identity verification.
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GST Returns
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Monthly GST return details for the past 12 months are required.
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Address Proof
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Accepted proof of address includes Aadhaar, Passport, Voter’s ID, or Driving License.
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Bank Statements
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Submit bank statements from the past 12 months.
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Tax & Financial Records
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Recent Income Tax Returns and financial statements from the last two years (CA certified or audited).
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Business Continuity Evidence
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Required documents include ITR, Trade License, Establishment Certificate, or Sales Tax Certificate.
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Other Documents Needed
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Include Sole Proprietor Declaration, Partnership Deed, Memorandum & Articles of Association, Board Resolution, and MSME & GST Registration.
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Understanding the interest rate for business loans in Madurai is key for business owners. KFIS Expert Finance Services provides guidance on rates based on factors such as credit score, loan amount, and repayment terms. Knowing these rates helps in making informed decisions for your business growth and financial planning.
(*Terms and conditions apply.)
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Read MoreYou can easily apply for a business loans in Madurai with KFIS Service Provider by visiting their website or contacting their team. The process involves filling out an application, submitting required documents, and completing a few steps to get your loan approved.
To check your business loan eligibility in Madurai with KFIS Service Provider, you can use their online eligibility calculator or directly contact their customer service. Eligibility is based on your business’s turnover, credit score, and financial health.
A well-prepared business plan is essential for securing an MSME loan in Madurai. KFIS Loan Services requires a clear plan detailing your business goals, financial projections, and growth strategy. A strong business plan increases your chances of loan approval and showcases your business’s potential for success.
Yes, KFIS Loan Services offers MSME loans in Madurai specifically for working capital needs. These loans can help businesses cover day-to-day operational costs such as inventory, payroll, and other expenses, ensuring smooth operations without affecting your cash flow.
KFIS Loan Services offers various MSME loan types in Madurai, including working capital loans, term loans, machinery loans, and government-backed loans. Whether you’re looking for funds to expand operations, purchase equipment, or manage cash flow, there’s an MSME loan option to meet your business needs.
KFIS Professional Finance Service offers unsecured business loans in Madurai ranging from INR 30 lakh to INR 5 crore. The loan amount depends on your business’s financial health, turnover, and the purpose of the loan. Larger loans may be available for businesses with strong creditworthiness.
Yes, KFIS Professional Finance Service provides unsecured business loans specifically for women entrepreneurs in Madurai. These loans offer financial support to women-owned businesses for expansion, working capital, and other operational needs, with favorable terms and lower interest rates under specific government schemes.
Kfis – Your reliable loan service partner, offering quick, flexible, and tailored financial solutions to help you achieve your dreams with ease and confidence.
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