Business Loan in Delhi

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Business Loan in Delhi


Businessmen around the country often find themselves in need of credit to fund or expand their business for various reasons. Businessmen need the funds for working capital gap, to buy some equipment, to pay off business dues, for payment to creditors, to expand, to pay employee's salary, etc. Businessmen can't use the funds from their personal savings to use for their business needs. That's why businessmen opt for business loans. The business loan works as the perfect financial aid for financial emergency situations. To tackle your business related financial needs, taking a business loan is always a safe and easy way.

Even if you want to start a new business, you can apply for a business loan. The terms and conditions for a new business loan are different than the business loan for already running business. Each business is Delhi different in various aspects that's why it requires different sets of documents and is applied with different eligibility criteria. This is the reason why banks and NBFCs offer customized business loan plans for businessmen as per their requirements. These business loan plans are made keeping businessmen in center and made with keeping financial alternatives in mind. Banks and NBFCs across India offer special business loans for women entrepreneurs. These business loans are customized business loan plans specifically made for women to cater their business related needs and to give them a chance to build a competitive business in the market.

Why should I take a Business Loan in Delhi?


Delhi being the capital of India has many opportunities to get successful by establishing a business. Businessmen or entrepreneurs in Delhi can take business loan to meet with their various business related needs. We have listed a few of them below:

Business loan for working capital

In an ongoing business, businessmen require ample amount of funds to keep their daily operations going. These loans help them to be sustainable soon and it can be paid off once the business starts to grow. If your business earnings are not adequate, you can get this type of loan.

Business loan for business expansion

Every businessman wishes to expand his or her business beyond the boundaries of its local position. They think of this when their respective is doing very well in its initial location there is a seemingly positive flow of profit. Businessmen understand and feel the need and urge to expand their business to achieve higher grounds of success. But financially, it is very difficult to expand the business in new places. It needs a strong financial backing to fulfill various monetary needs of business expansion. These monetary needs can be listed as location, equipments, new recruitments or paying for new communication channel. As these things will cost the businessman a bucket full of money, they choose to take a business loan for business expansion. This type of loan helps businessman to succeed even in unseen territories.

Business loan for buying machinery or equipment

Businesses need very specific and modern machinery for smooth functioning. But often these equipments are very costly and may drill a hole to the businessman's wallet in order to purchase it. So businessmen take this type of loan to ease up on their finances and to buy new equipments. They pay off this loan by earning heavy profits from these machines or later putting them out on lease for others to use.

Business loan for developing infrastructure

Many times people judge a businessman from his/her appearance. And it's not just about physical appearance but also the infrastructure the businessman works and operates within. Having a well built exquisite and modern infrastructure as your work place can act as your credibility factor. Many times clients judge businessmen from the infrastructure they work within. Also having a well sorted customized infrastructure proves beneficial for smooth functioning of day to day affairs. Building an infrastructure, be it small or large, costs a fortune. That's why businessmen take for this type of loan.

What are the different types of Business Loans available in Delhi?


There are various types of businesses in Delhi which require various types of loans. To match with all the needs of businessmen for their respective businesses, banks and NBFCs have come up with various types of business loans. Some of these are mentioned below:

Micro business loans:

Businessmen who own micro or small level businesses choose this type of business loan. Delhi hosts a number of micro level businesses and there is a rapid growth seen in the number of such enterprises. Micro business loans have a smaller repayment term compared to regular business repayment term. Micro business loan can be repaid in maximum 6 years.

Business loans for self employed professionals:

Designed for self-employed professionals, this is a type of unsecured loan. Self employed professionals are given amounts from Rs. 25,000 to Rs. 75,00,000 as business loan. The given amount is decided by bank or NBFC as per the applicant's financial status and history. In this type of business loan, self-employed professionals include CA, CS, doctor, engineer, architect, trader, commission agent, contractor etc.

Business loan to finance a project:

Long term specific business projects are financed by this type of business loan. To get this type of loan, the businessman/ the company has to present a project assessment report of the impending business task on which the loan is granted.

Business loan to finance equipment:

Businesses need very specific and modern machinery for smooth functioning. But often these equipments are very costly and may drill a hole to the businessmans wallet in order to purchase it. So businessmen take this type of loan to ease up on their finances and to buy new equipments. They pay off this loan by earning heavy profits from these machines or later putting them out on lease for others to use.

Business loan for working capital:

In an ongoing business, businessmen require ample amount of funds to keep their daily operations going. These loans help them to be sustainable soon and it can be paid off once the business starts to grow. If your business earnings are not adequate, you can get this type of loan.

What are the Features and Benefits of a Business Loan?


Business loans can also help in tax benefits for the company.

You can avail this loan to tackle with your immediate financial requirement like daily capital needs.

Banks offer customized repayment schemes for business loans. You can repay the business loan Daily, Weekly or fortnightly.

You don't have to put anything as collateral or need a guarantee for a business loan up to Rs. 75,00,000.

Business loan offers you lower interest rate compared to personal loans.

You don't need to show Income Tax Return for loan up to Rs. 10 lakh.

With minimal paperwork and flexible repayment options, more and more business owners are leaning on business loans to fund their business needs.

You can avail a business loan ranging anywhere between Rs.50,000 to Rs. 75 lakh.

What are the Eligibility Criteria to get a Business Loan in Delhi?


Banks and NBFCs offer business loan to businessmen and entrepreneurs in Delhi who fulfill their outlined eligibility. The eligibility criteria differ as per the policy terms of banks and NBFCs and also the financial profile of the borrower. But there are many common factors in these various eligibility criteria which one has to follow irrespective of which bank and NBFC one chooses. Banks and NBFCs give business loan to businessmen and entrepreneurs in Delhi by dividing their profession and annual income history. The common and generic factors are listed below:

Banks have divided applicants in two categories based on their profession. The eligibility criteria and list of documents change as according to these two categories


1. Self Employed Professionals (SEP):Trader, contractor, commission agent etc.
2. Self Employed Non Professionals (SENP):CA , Doctors, CS, engineer, architects etc.

Also, if you are applying as a company, you can avail loan by applying under following entities:


1. Partnerships/Propretorship
2. Limited Liability Partnerships
3. Private Limited Companies
4. Limited Companies-Listed

Other important requirements to avail Business Loan:


1. The minimum turnover of your business should be Rs. 60,00,000. The turnover should be in positive track.
2. You should have minimum 3 years of experience in current business and 5 years of experience in overall business industry.
3. Your business must be making profit for last 2 years.
4. The age of the applicant should be minimum 25 year and maximum 65 years.
5. You should have paid your business's Income Tax Returns for last 2 years.
6. The borrowers should have a strong credit history. They should have a credit report ready for bank reviewing

What are the Documents Required to avail a Business Loan in Delhi?


1. Passport-size photographs

2. Neatly signed and filled loan against property application form.

3. Identity and signature proof - Passport, Pan card, Driving License, Voter ID card, Aadhar card, employee identity card in case of government employees.

4. Address Proof - Bank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/electricity/water/credit card bill or Property tax.

5. Age Proof - Voter ID card, Secondary school leaving certificate (class 10), birth certificate, Passport, Aadhar Card, pension payment order or receipt of LIC policy.

6. PAN Card – For Company /Firm/ individual.

7. Copy of details of all existing loans.

8. Bank statements of last 6 months from application date.

9. Business proof (registration of business)

10. Copy of ITR/Assessment Orders of 3 years

11. Copy of challans proving that Advance Income Tax has been paid.

12. Balance sheet and Profit & Loss details of business from last 2 years. These details should be certified by CA.

13. Proof of continuation which will include ITR, trade license, establishment and sales tax certificate

Why Choose Ruloans To Apply For Business Loan in Delhi?


Ruloans with its pan India reach, is one of the fastest growing loan distributor of the nation. A team of more than a thousand experienced personnel, Ruloans is expanding day by day vertically and horizontally. Our team comprises of experts from finance and loan industry. These experts are trained to help you with your business loan related needs in Delhi. You can easily apply for a business loan using Ruloans hassle free online procedure. Ruloans offers you a number of banks and NBFCs to choose from. We are pledged to help you borrow right..

Hassle free process

Ruloans has an efficient, smooth and easy online process for our consumers to apply for a business loan. Using our user friendly online process you can upload your documents swiftly. Also our highly proficient built in Loan Calculator will guide you in choosing right tenure and interest rate as per your needs.

Benefits of applying with us

We are happy to share the benefits and perks of applying with us for a business loan. You can avail best loan offers and deals from various banks and NBFCs in Delhi for your business loan.

Compare your loan options

Ruloans gives you options from a plethora of banks and NBFCs. As we help you borrow right, we help you to choose the perfect loan lender as per your needs. By applying for a business loan online, you can easily compare your options and choose as per your requirements.

Free expert guidance and advice

We have a mammoth team of loan and finance experts in Ruloans. Our managers are always keen to help you by giving their precious advice. As they know the loan industry with its past and possible trends, they give you the perfect advice. Our dedicated team of loan and finance experts will help you at any given time in loan process, without charging a dime.

Privacy policy

We, at Ruloans know the value of your documents and your privacy. With our latest online security system, we keep your documents safe and secure. Your information is not shared with any alternate sources. As we believe in privacy and transparency, you can trust us with your documents.

How to Apply For a Business Loan on Ruloans?


Applying for a business loan on Ruloans involves few easy steps:

Step 1: Go to the 'Business Loan in Delhi' page on our website and click on Apply Now box.

Step 2: Fill out the initial personal and financial information. Once completed, our loan calculator checks your eligibility with its highly efficient algorithm.

Step 3: Our loan calculator presents you a list of banks and NBFCs most suitable for you as per your eligibility criteria. The list will include the name of the financial institutions, interest rates, required document list etc.

Step 4: From the given list, you can choose the financial institute of your choice. You can start filling up the form and upload the required documents. Here, if needed, you can call or mail our experts for advice. The contact details are given on our website.

Step 5: Your application will be sent electronically to the bank you selected. You will be informed about the status of your application via SMS, email or you can track it via website too.

Frequently Ask Questions


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