Business Loan in Madurai

Madurai, the cultural city has recently become a well-established industrial and educational hub of South Tamil Nadu. It is also a tourist hub and popular for many historic Hindu temples and is touted to be a city full of opportunities and growth. Fullerton India offers you a business loan in Madurai to give the required boost to execute your entrepreneurial dreams or expand your current business. You may want to buy modern equipment, raw materials, or set up a factory.

Fullerton is happy to be your business loan partner by providing collateral-free loans up to ₹ 50 lakhs*. Fullerton is there to help you scale your business in a hassle-free environment. Our customized business loan solutions for you are curated with competitive interest rates, flexible tenure, and smooth documentation to meet each and every business need.

Highlights of Fullerton India Business Loan in Madurai:

• Loan Amount: You can get a business loan up to ₹ 50 lakhs depending on your eligibility, thereby helping you fulfill your business plans efficiently.
• Repayment Tenure: Tenure is flexible from 12 months to 60 months.
• Business Loan Interest Rate: We offer competitive interest rates on business loans starting as low as 17% depending on factors like location, income, business experience, current loans, etc.
• Quick Approval: Our digital processes enable us in the quick process of business loans. Small business loans can receive approval in 72 hours*, depending on the applicant’s eligibility documentation and successful verification checks.
• Online Application:Online application is an easy way to apply for a Fullerton India business loan. You can also walk into any of our branches in Madurai and complete the process as guided by our representatives.
• Business Loan Eligibility Calculator: We offer a free online business loan eligibility calculator which gives you a fair estimate of the maximum loan amount that you may be eligible for. All you need to do is to go to the website and enter basic details like location, age, annual profit after taxes, total net monthly EMIs, preferred rate of interest, and tenure. Within seconds you will get your eligible loan amount, thereby helping you in planning your loan effectively.
• Business Loan EMI Calculator: Fullerton India provides another extremely useful and easy-to-use tool, the business loan EMI calculator. It helps you in planning your monthly outflow. You can select a preferable tenure for a given loan amount and interest rate till you get an EMI amount that is within your budget.

Business Loan Eligibility Criteria:

Fullerton India provides business loans in Madurai for enterprises like proprietors, private limited companies, and partnership firms. For self employed individuals, it is important that you are in your current business for at least 3 years and your total business experience is at least 5 years. Your minimum age should be 22 years and the maximum age at the time of loan maturity should be 65 years. Your enterprise should be in a profit-making business for the past 2 years with a minimum turnover of ₹ 10 lakhs and a minimum annual income of ₹ 2 lakhs. The final business loan eligibility for the loan amount will depend on certain other factors like CIBIL score, credit history, etc.

Required Documentation:

Fullerton India business loan documentation is simple. This leads to quicker disbursal and a smooth experience for you. Documents to be submitted are below. However, at times additional documents could be requested.

• Identity proof (PAN card)
• Proof of Address
• Bank statements (past 6 months)
• Latest ITR with income computation, balance sheet, profit and loss account (past two years)
• Proof of business existence like Trade license / Establishment / Sales Tax Certificate.
• MSME certificate (if applicable)
• Business continuity plan
• Individuals applying on the behalf of entities should also submit the required documentation for the business entity.

*Terms and conditions apply. Loans at the discretion of Fullerton India Credit Co. Ltd.

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