Shriram Finance Business Loan

Given below are the features and benefits of Shriram City Business Loan:

1. Availability of diverse working capital: Whether you are applying for a loan as an individual or on behalf of an organisation, the lender offers a large option regarding the availability of working capital. Based on your needs, you can apply for a loan with amount ranging between Rs.1 lakh to Rs.1 crore.
2. Fast and secure loan processing system: The process to apply for a business loan from Shriram City is extremely fast and secure. As you apply online for a business loan, a representative from Shriram City will immediately get in touch with you to assist you with the application process. You can also visit the nearest branch of the lender where a representative will help you with the process related to the application for a business loan.
3. Competitive rates of interest: The lender based on your profile, loan amount, repayment tenure, etc. charges an interest rate on your loan amount. The rate of interest charged by Shriram City starts from 15% onwards.
4. Flexible repayment tenure: You can choose the tenure for which you will repay the loan amount. The repayment tenure ranges between 1 year and 5 years.
5. Accessibility: Shriram City offers business loan to both new and existing customers provided the eligibility criteria is fulfilled.
6. Easy payment process: You can easily repay the loan through Equated Monthly Installments (EMIs. You can set up an ESC where the said amount is automatically deducted from your bank account on the due date every month.

Eligibility criteria

Given below is the eligibility criteria you will have to fulfill in order to apply for a business loan from Shriram City:

1. You must have minimum business turnover of Rs.20 lakh.
2. You should have owned a business for at least 3 years.
3. You must have a valid business registration certificate.
4. You must provide the declaration of existing credit obligations.
5. You must be living in the residential address provided for at least a year.
6. You will have to provide a valid proof of permanent residence.
7. Your age should not be less than 23 years and not more than 65 years at the time of applying for a business loan from Shriram City.

Interest Rate and charges of Shriram City business loan

Documents required

Given in the table below is the list of documents you will have to submit while applying for a business loan from Shriram City:

Why should you apply for a business loan from Shriram City

The reason why you can consider applying for a business loan from Shriram City is because the loan approval time is extremely fast. The lender will ensure that minimum time is taken to approve your application provided you meet all the eligibility criteria and the money is disbursed to your account at the earliest. Also, the business loan provided by the lender will help you manage your working capital in an easy manner and help you grow your business.

How to apply for a business loan from Shriram City?

Online

Given below are the steps you will have to follow while applying for a business loan from Shriram City:

1. Visit the official website of Shriram City.
2. Under 'Products', click on 'Business Loan'.
3. On the page, you will find the ''Apply Now' button. Click on it.
4. Provide the relevant details such as your name, email ID, date of birth, followed by your residential and professional information. Upload all the relevant documents.
5. Tick the box where you authorise the lender to get in touch with you through SMS or WhatsApp, and click on 'Continue'.
6. A representative from Shriram City will get in touch with you and will assist you further with the application process. If all the documents submitted are correct, then your application for a business loan will be approved.

Offline

You can apply for business loan from Shriram City by visiting its nearest branch along with all the required documents. A representative from the lender will assist you with the application process.