With a GDP of $310 billion, Mumbai is the wealthiest city in India. It is home to 28 billionaires, making it the 6th such city in the world. A prime trading hub of India, Mumbai is the headquarters of Reliance Industries, Tata Group, Godrej Group, Larsen & Toubro, and other such enterprises.

As a business owner, you may also have the ambition to make your company prominent in the city. For that, financial companies offer business loans in Mumbai which can help your company expand or sustain during any financial crises.

One of the trusted lenders in India, Bajaj Finserv offers the following types of Business Loans:

Working Capital Loan – To help you maintain a steady flow of working capital in your business.
SME and MSME Loan – Customised business loans to help SMEs and MSMEs grow.
Machinery Loan – Borrowers can enjoy various benefits of machinery loans.
Business Loan for Women – Business loans specifically to empower women entrepreneurs.

Some of the benefits you can receive with these loans include:

Access to high amount of unsecured loan

Bajaj Finserv provides with short-term loans of up to Rs. 30 Lakh. These loans are collateral-free by nature. Hence, you don’t have to provide any asset to avail them.

You can utilise such funds to:
Purchase raw materials.
Restock inventory.
Renovate your place of operation.
Expand to a new location.
Purchase/upgrade equipment.
Introduce new technology.

These loans are unrestricted; therefore, you can freely use the funds in any way suitable for your business.

Quick and rapid disbursal

You can avail business loans in Mumbai within 24 hours. The quick approval and disbursal makes these loans ideal for every emergency.

Convenient repayment tenors

The repayment tenors of business loans usually range from 12 to 60 months. Thus, you get time to repay it conveniently without making it a financial burden.

Note that a small tenor makes your EMIs high and the cost of loan (principal + total interest) low. Longer loan tenors have the opposite.

Use a business loan EMI calculator to check your EMIs based on the principal and rate of interest before you apply.

Pre-approved offers

Bajaj Finserv brings their exclusive pre-approved offers that save more time of availing loans by making the process straightforward. Pre-approved offers not only come with business loans in Mumbai but also with home loans, personal loans, and numerous other financial products and services. You can have a look at your pre-approved offer by providing only your name and phone number.

Flexi Loan facility

Flexi Loan facility is a unique feature which works like standard loans but offers several lucrative benefits.
The borrower will receive the funds, but they will start attracting EMIs immediately. Instead, he/she needs to pay interest only on the sum withdrawn from the sanctioned amount. The borrower can also choose to pay just the interest as EMIs. He/she is only required to repay the whole principal amount sanctioned when the tenor is over.
Bajaj Finserv’s Flexi Loan facility can help you save on EMIs by up to 45%.

Minimal documentation required

Borrowers need to provide only the following document to opt for a Business Loan from Bajaj Finserv:
KYC documents – Aadhaar, PAN, Voter ID, Passport, Driving License, etc.
Any document or certificate that proves the existence of your business.

Relevant financial document – Balance Sheet, Profit & Loss Account Statement, etc.
Bank account statement of the previous month.
Income Tax returns of the last year.
The above list is indicative. You may have to present other documents on demand.
Simplistic eligibility criteria

You have to fulfil the following eligibility criteria to avail a business loan:

Age between 25 and 55 years.
A business vintage of at least 3 years.
Some customers may also need to possess a CIBIL score of 750 or more to avail a business loan. You must know what a CIBIL score is and how it affects your business.
Who can avail a business loan?

The following individuals in Mumbai can avail a Business Loan from Bajaj Finserv:

Entities – Private Limited, Limited Liability Partnerships, Partnerships, etc.

Self-employed non-professionals – Service providers, proprietors, retailers, traders and manufacturers, etc.
Self-employed professionals – Chartered Accountants, Company Secretaries, Doctors, etc.

Apply for Business Loans in Mumbai online from Bajaj Finserv and enjoy all the features and benefits mentioned above.

Author's Bio: 

I am a Financial Advisor with an experience of more than 7 years.I had worked for top Financial Firms in India and has been a visiting faculty at many reputed institutes. I have done my post-graduate in Business Economics, from Princeton University, USA. During my free time, I teaches children from marginalised sections of society and also work on my Blog.