1kcr offers a hassle-free business loan product with flexible repayment options, designed to help you take your business to the next level. Here are the key features and benefits of our business loan product:
Loan Amount and Tenure
Our business loan product offers loan amounts ranging from Rs. 1 lakh to Rs. 5 crore. The loan amount you are eligible for will depend on your business needs and financial profile. Our business loan tenure ranges from 12 months to 60 months, giving you the freedom to choose a repayment schedule that fits your business needs.
Eligibility Criteria
To be eligible for our business loan product, your business must meet the following criteria:
- Be registered in India
- Have a minimum turnover of Rs. 10 lakhs per year
- Have been in operation for at least 3 years
Documentation
Minimal documentation is required to avail our business loan product, including:
- Identity proof / address proof (copy of passport/voter ID card/driving license/Aadhaar Card)
- Business registration documents
- Bank statement of previous 12 months (Passbook of previous 6 months)
- Latest ITR and balance sheet
- Proof of business ownership
Interest Rates and Charges
- Interest rates start from 10.0% up to 30%, depending on your business’s creditworthiness, financial profile, and repayment history.
- Government taxes and other levies as applicable will be charged over and above the fee and charges.
Other charges associated with our business loan product include:
- Delayed instalment payment charge: Subjective per annum plus applicable government taxes on overdue instalment amount.
- Post loan disbursement charges: Subjective according to the financer.
- Loan cancellation charges: Interest charged from date of disbursement till the date of loan cancellation will be borne by the customer. Processing fee, stamp duty, other statutory charges and GST are non-refundable charges and would not be waived/refunded in case of loan cancellation.
- Rebooking charges: Rs. 2100/- + applicable government taxes.
- Premature closure charges: Applicable on principal outstanding post cooling off/look-up period. Other charges are subjective according to the financer.
Eligible Borrowers
Our business loan product is available to the following types of borrowers:
- Sole proprietorships
- Partnerships
- Private limited companies
- Limited liability partnerships (LLPs)
At 1kcr, we understand that every business has unique financial needs. That’s why we offer tailored business loan solutions to help you achieve your business goals. Our business loan product is designed to provide quick and easy access to funding, with minimal documentation and flexible repayment options. Apply for our business loan product today and take the first step towards financial stability with 1kcr.