India has been described as a great country in our mythology. It has been said about India that everything human use has been available on the land of India. Along with this, it has also been said that India was also the world guru. Despite being so rich, why did India remain in the chain of slavery for hundreds of years? The biggest reason for this is that India is a country full of business objectives. There are high chances of getting a lot of success in business. However, one thing which has expanded with business is the practice of distributing money on interest. 

Traders need money from time to time to run their business. It is also in business that the goods are sold but the payment of money is stuck. When money gets stuck, the businessman faces difficulty in sustainably conducting his business. To deal with this situation, the businessman needs money in any case. Moneylenders take advantage of such a situation. 

Who Is A Money Lender? 

A money lender can be a person or an institution. Money lending means to pay arbitrary interest on the money given for the loan. For instance, if a person has given Rs 10,000 to a businessman. Now the person giving money will charge interest on Rs 10,000 in his arbitrary way. The amount of that interest has to be repaid in any case, whether the business wants it or not. Because money lenders forcefully grab property in the event of non-payment of money. 

See also  EMI Calculator Myths Busted For Business Loan In India

This used to happen a lot in earlier times. Because the availability of business loans was less than or equal to the present time. But now a lot of change has come in the time. The banking system has improved a lot now than before. The government too now understands the economic problems of the businessmen and the business loan scheme is run by the government from time to time. 

Where Do You Get A Business Loan In India? 

The term business loan has just arrived in India. Earlier people used to meet their business needs only through personal loans. As far as getting business loans is concerned, business loans are available with ease in India. However, it is not the case that a businessman gets a business loan from anywhere he requires. 

Business loans are available to all public-private banks as well as non-banking financial companies (NBFCs). So if a businessman is looking for a business loan then they should contact a bank branch or any NBFC company. For the information, let us know that a business loan of up to Rs 7.5 lakh is provided to MSME traders by the country’s premier NBFC ZipLoan in just 3 days without pledging anything. 

Apply for Quick Business Loan

Get Business Loans From ZipLoan 

Micro, small and medium industries i.e. the MSME sector contributes significantly to the development of the country. Small and medium businesses have a very important role in driving the wheel of development of the country. Although small and medium businesses have problems such as not receiving payment on time, the payment gets stuck due to uncertain situations, requirements of new machinery, hiring of new employees, etc. To complete all these tasks necessary funds are required. 

See also  7 Quick Steps to Improve your CIBIL Score

Many times small and medium businesses do not have the necessary funds due to which it becomes difficult for them to make their business survive or the lack of funds obstructs the way for business growth. In such a situation, businessmen start getting frustrated, and to overcome this problem ZipLoan company has taken the lead. A business loan of up to Rs 7.5 lakh is provided to small and medium businesses by ZipLoan company in just 3 days *. 

Also Read: Business Loan for Women Entrepreneurs

Where To Get A Business Loan From Ziploan? 

Non-banking financial company ZipLoan offers business loans in more than 16 cities of the country. Following are the names of the cities in which business loan is provided: 

Delhi, Noida, Ghaziabad, Gurugram, Barabanki, Bangalore, Bhopal, Haridwar, Indore, Jaipur, Lucknow, Mumbai, Navi Mumbai, Rishikesh, Roorkee, Saharanpur, Dehradun. 

What Is The Eligibility For A Business Loan? 

It is specially taken care of by the ZipLoan Company that almost all businessmen applying for business loans should be given business loans. That is why the eligibility for business loans has been kept very basic. The following are the eligibility for a business loan: 

  • Businesses must be more than two years old. 
  • The annual turnover of the business should be more than Rs 10 lakh. 
  • Income tax return (ITR) should be filed in the last financial year. The ITR filed should be more than Rs 1.5 lakh. 
  • One of the houses or places of business should be in the name of the businessman himself or the name of a blood relative of the businessman. 
See also  MSME To Get A Loan of Up to 1 Crore in 59 Minutes Now! Know How?

What Are The Documents Required To Take A Business Loan? 

The most difficult for any businessman is to collect a bundle of papers. Businessmen will collect bundles of papers or spend their time in their business so that their income can increase. Special care is taken by ZipLoan that a businessman does not have to gather too many papers to take a business loan. That is why business loans are provided by ZipLoan on very basic paper documents. The following documents are required: 

  • Aadhar Card
  • Pan Card
  • Last 9 month’s bank statement (should be a statement of a current bank account). The bank statement should mention that the annual turnover in the business is more than Rs 10 lakh
  • Copy of ITR filed in the previous financial year
  • Proof of ownership of one of the houses or business space. Proof of ownership is valid even if it is in the name of the businessman or the name of the blood relative of the businessman