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BUSINESS LOAN
people need loans to grow their business. Loans can be used to cover requirements of businesses, including working capital, startup costs, marketing expenses, office expansion, acquisition of equipment, or inventory, as well as any other requirements that may be relevant. Mudrabusinessloan.online makes the cumbersome process of applying for a business loan easy, and the interest rates are fairly low as well. Our Partnered Mudra loan offer the fastest pre-approval for a Business loan in india. We also have partnered with multiple NBFCs that provide loans all across the country, including smaller towns.
MUDRA LOAN
MUDRA Loan is part of the Pradhan Mantri Mudra Yojana (PMMY), introduced to support the growth of micro, small, and medium enterprises (MSMEs). It provides financial assistance up to Rs. 50 lakhs to non-farming, non-corporate small business sectors to expand, modernize, or start new ventures.
Loan Types: Mudra loans are provided under three categories based on the loan amount:
Shishu: Loans up to ₹50,000 (for new startups or small businesses).
Kishore: Loans ranging from ₹50,001 to ₹5 lakh (for businesses that are already operational and looking to expand).
Tarun: Loans ranging from ₹5 lakh to ₹50 lakh (for established businesses aiming to scale up).
Eligibility:
The loan is available to non-corporate small businesses, including proprietors, partnership firms, and micro-enterprises.
Businesses should be in sectors like manufacturing, trading, and service industries.
Applicants should not have access to formal credit sources or the ability to provide collateral.
No Collateral: One of the key advantages of the Mudra Loan is that it does not require any collateral or security. This makes it easier for small and micro-entrepreneurs to access finance.
Interest Rates: The interest rate for Mudra loans is typically competitive and is determined by the financial institution offering the loan. However, the rate is usually lower than traditional loans.
Repayment Period: The repayment period for Mudra loans can vary depending on the nature of the loan and the financial institution but typically ranges from 1 to 10 years.
Processing Fees: Mudra loans may attract nominal processing fees, which are generally lower compared to conventional loans.
Disbursement: Mudra loans can be availed from various financial institutions, including public sector banks, private banks, regional rural banks (RRBs), cooperative banks, and microfinance institutions (MFIs).
GRIEVANCE REDRESSAL CELL
We strictly follow the RBI directive and have set up an effective Grievance Redressal Cell to handle and address all manner of grievances. We always endeavour to carry out responsible lending, whereby we give just the loan which we know you will find convenient to pay back, but also recover our dues ethically. We never believe in any manner of high-handed or coercive recovery methods. But in case you have any complaints we will take up the matter seriously and address the issue within 5 working days. Call us at : +91-9718802975 Email us at support@mudrabusiness.online.com