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Fuel Your Business Growth with a Fast Business Loan!
Get a convenient Business Loan to cover assets and expand seamlessly.
Business Loan in Gujarat
Gujarat was one of the main central areas of the Indus Valley civilization with ancient history enriched by commercial activities. Popular for cement and petrol industries, the state also produces cotton, groundnuts, dates, sugar cane, milk, and milk products, and ranks number one in the pharmaceutical industry in India. The Gir Forest National Park in Gujarat houses the only wild Asiatic lion population in the world. Ambassador of Gujarat Tourism Amitabh Bachchan currently promotes this birthplace of Mahatma Gandhi and Sardar Vallabhbhai Patel.
Should you be feeling the pressure due to market volatility, or the need for expansion of your enterprise, a Business Loan designed solely for your purpose can be availed at affordable interest rates. Any plan that you have for your business, whether that be infrastructure, plant and machinery upgrade, securing working capital for liquidity, or plans for hiring and training staff, Ruloans will be all the way with you to secure a hassle-free Business Loans in Gujarat at no extra costs.
Features and Benefits of a Business Loan in Gujarat
Investments are part and parcel of growing an enterprise. Advanced equipment, skilled staff, and other factors are essential for growth. However, a shortage of funds shows up as a major obstacle to growth. A business loan has the capacity to bridge the gap to provide the much-needed push, especially since such a loan requires no collateral. Take a look at the features of a Business Loan in Gujarat.
Convenient Process
Securing finance for you has not been more accessible than getting a business loan approved. No long business discussions and plans. Just your simple and straightforward go to the bank and get the money approach works.
Prudent Rate of Interest and tenure
Competition among lenders brings out the best in terms of offerings for borrowers. Business loans are the best offering in terms of the rate of interest and shorter tenures. The reasonable interest rate for business loan funding a good alternative for your enterprise.
Collateral Free
Small and medium enterprises generally do not possess many assets to provide as collateral for loans. Business loans on the other hand don't require collateral security, and as such you don't need to worry about going to the bank repeatedly for funds.
Multiple Options
Banks and NBFCs offer a bouquet of business loans to provide for your business needs. Whether you're looking for funds to upgrade machinery and equipment, or you're in need of funding for hiring skilled staff, you'll be surprised at what lenders have to offer.
Working Capital Option
Since there are no end-user restrictions on the funds received by way of a business loan, in times of liquidity crunches, you have funds at your disposal to tide through. You simply don't need to dip into emergency funds to cover short-term capital needs.
No Profit Sharing
When you turn to investors to fund your enterprise, you mull over profit-sharing as ROI or return on investments for investors, which fluctuate. This does not apply to funding by way of a business loan, since the terms and conditions of your loan govern by set parameters such as interest, fees, etc.
Quick Disbursal
Easy eligibility and minimal documentation cause a business loan to be disbursed quickly. Your enterprise emergencies are dealt with swiftly, and you don't need to halt operations to plan and execute growth strategies.
Eligibility Criteria for a Business Loan in Gujarat
The term Loan Eligibility in broad terms refers to qualifications to avail of a business loan from a bank or an NBFC. Lenders use Eligibility Criteria as a standard to resolve the number of funds to be lent on the basis of your financial credentials such as your business income, financial commitments, etc., subject to your business vintage, which decides your business loan tenure. Eligibility criteria for a Business Loan in Gujarat are listed below.
Age
Your age should be minimum of 21 years, and maximum of 68 years at Loan Maturity
Nationality
You should be a Resident Citizen of India without having defaulted on any previous loans, and without any Criminal Record
Credit Score
Your credit score should be 650 or higher
Business Vintage
The age of your business should be minimum 1 year in profitable operations
Annual Turnover
The annual turnover of minimum Rs.12 lakhs and above for existing enterprises
Eligible Entities
Individuals, SMEs, MSMEs, Sole Proprietorship, Partnership Firms, Public and Private Limited Companies, Limited Liability Partnerships, Retailers, Traders, Manufacturers engaged in Services, Trading, and Manufacturing Sectors
Additional Criteria
You must own a residence, an office, a shop, or warehous
Note: The above eligibility criteria are for indicative purposes only, and can vary from lender to lender.
What are the Documents Required for Getting a Business Loan in Gujarat
We at Ruloans are dedicated to making your business loan process smooth. Documents obligatory for a business loan are minimal. We request you to submit precise facts and credentials so that your business loan request can be processed in the shortest possible time. Documents required for Business Loan in Gujarat are listed below.
Documents Required
For Self-Employed Person (PROPRIETOR)
- Age Proof of applicant & co-applicant required (Pan Card Copy and aadhaar card)
- Residence Address Proof required of applicant & co-applicant (For E.g.- Passport Copy, Driving License copy, Latest Telephone / Electricity Bill copy)
- Office Address Proof required with company stamp (Latest Telephone / Electricity Bill, Shop Establishment Certificate, etc.).
- Latest 3 years ITR with profit and loss and balance sheet.
- Latest one-year bank statement
- GST certificate & udyam aadhaar certificate.
- Latest one-year GST challan GST-3b.
For Self-Employed Individuals (PVT LTD COMPANIES)
- Age Proof of applicant & Co-applicant (For E.g.: -Passport, Driving License, PAN Card, Birth Certificate).
- Residence Proof of each applicant & Co-applicant - (For e.g. -Passport, Telephone bill /Electricity Bill).
- Business proof (GST Certificate & Udyam Aadhar).
- Company Pan Card copy with company stamp & signature.
- Required three years ITR Returns of Applicant & Co- applicant
- Latest three years Company ITR Returns required with Computation of Income, Profit & Loss A/c, Balance Sheet, Capital A/c, Audit Report with 3cb & 3cd (if audited) and all schedules.
- Memorandum of Association(MOA) and Article of Association(AOA)
- List of Directors with Share Holding Pattern required on company letterhead with stamp & sign.
- Board Resolution on company letterhead with stamp & sign.
- Form 32 / Annual Return file with ROC.
- Latest Year Bank statements of all Current A/c's.
- Updated one-year bank statements of all saving A/c's
- Company Profile on company Letterhead
- Provide Latest One Year GST 3B Challan required.
Agriculturists
- Application with Photograph
- Identity and Residence proof
- Last 6 months, Bank Statements
- Processing Fee Cheque
- Copies of Clear Title of Agricultural Land depicting Landholding
- Copies of Clear Title of Agricultural Land depicting crops being cultivated
- Details of 2 years of previous loans availed
For Self-Employed Individuals (PARTNERSHIP FIRM)
- Age proof of applicant & Co-applicants. (E.g. Pan Card, Passport, Driving License, Birth Certificate Etc.)
- Residence Proof of applicant & Co-applicant's (E.g. Passport, Tel/ Electricity bill, Lease Agreement along with latest electricity bill in the name of owner).
- Business proof (GST Certificate & Udyam Aadhar)
- Latest 3 Years Complete ITR of applicant and co-applicant.
- Latest 3 years complete ITR of the company with profit & loss and balance sheet.
- Audit reports for all three years if audited.
- Partnership Deed
- Pan Card copy of partnership company required with stamp & signature.
- Company A/c Bank Statements (Latest 12 Months)
- Saving Bank Statements (Latest updated 12 Months required)
- Company Profile of the Company.
How to Apply for a Business Loan in Gujarat?
1
Online Application
Fill out your 'Basic Details'
2
Document Submission
After you receive your 'Business Loan Eligibility', choose your 'Financial Institution', and upload 'Required Documents'
3
Verification
The Institutions will 'Verify' your business Loan application, and submitted documents
4
Approval
Your Business Loan will be 'Sanctioned'
5
Disbursal
Receive your 'Business Loan Amount' in your Bank Account - Simply Efficient!
Compare Business Loan Interest Rates from Top Banks and NBFCs -January 2025
Bank Name
Interest Rate
Processing Fees
IDFC BANK
16.50
2
ICICI BANK
16%
2
HDFC BANK
15.50%
1.5
POONAWALA FINANCE
17.50%
2
STANDARD CHARTERED BANK
15.5%
1.5
HERO FINCORP LTD
20%
3.05
ADITYA BIRLA LTD
22%
2.5
AXIS BANK
17.5%
2
UNITY
16%
2
YES BANK
16.5%
2
SMC
17%
2
BAJAJ FINANCE LTD
17.75%
2
FULLERTON INDIA
18%
1.75
GROWTH SOURCE
19%
2
NEO GROWTH
18%
2
INDUSIND BANK
17%
2
KOTAK MAHINDRA BANK
17%
2
LOAN FRAME
17%
2
TATA CAP FINANCE
17.50%
2.5
FINTREE
20%
2
FED BANK
17.50%
2
DEUTSCHE BANK
16.5%
2
U GRO CAPITAL
24%
2.5
CHOLA
18%
2
IIFL
18%
2
CENTRUM
21%
2
L& T FINANCE
17%
2
ASHV FINANCE
19%
2
LENDING KART
18%
3
INDIFI
18%
2.5
PIRAMAL
16.49%
2.75
AXIS FINANCE
18%
2
INCRED
21%
2
CREDIT SAISON
22.50%
2
AMBIT
17%
2
PROTIUM
18%
2
PREFER
16%
3
PAYSENSE
16.5%
3.5
DBS
18%
2
TRU CAP
21%
2
SHREERAM FINANCE
16%
2
MASS FINENCE
24%
2.5
CLIX CAPITAL
24%
3
Utkarsh Finance
17
2
GODREJ
18
2
BANDHAN BANK
15.50%
2
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