Best Business Loans in Bangalore
Bangalore is a booming business town with a lot of commercial activity. It has come a long way from being a pensioner’s paradise to a city full of business activity. The transformation can be traced back to the establishment of the software sector which gave impetus to many sectors including real estate, food and restaurants, malls, retail etc. This has seen the rise of many indigenous businesses started by individuals and groups in the city with many more trying to make a mark. As is the case, every business needs finance to fund operations which has meant a huge requirement for business loans and business finance in the city.
There are many banks, NBFCs and private financial sources which can fund a business loan in Bangalore for existing or new business owner. The loans are given at varied interest rates according to your eligibility. In general the required criteria include that you must be pursuing the business with a vintage of at least 3 years with requisite revenues and income. For your business loan application to be successful, you need to prove your ability to pay back the loan amount through profits generated from business. However some private lenders might be willing to be a bit lenient on the criteria of business vintage and some other factors.
Some of the documents required are a business loan in Bangalore are company ID proof, IT returns for 3 years, your bank statements, audited financials, address proof, Board resolution, etc.
All major banks and NBFCs provide business loan in Bangalore including HDFC, ICICI, Axis, Kotak, Bajaj Finserv, Tata Capital and Fullerton. Apart from this you can also access private lenders and private financiers for a business loan.
Banks and NBFCs offering business loans in Bangalore
ICICI Bank- is the second largest private sector bank in India which has approximately about 89 full and part service branches in the district of urban Bangalore
HDFC Bank- is the largest private sector bank in the country and operates in Bangalore district from approximately about 141 branches
Axis Bank- is the third largest bank in the country in the private sector and operates about 50 branches in the district of urban Bangalore
Kotak Bank- is a large bank in the private sector which works in about 22 branches in the city
Citibank- is operating out of about 2 branches in the city of Bangalore
Bajaj Finserv- is one of the largest NBFCs in India with 6 branches in Bangalore city
Tata Capital- is again a well-known NBFC with about 4 branches in Bangalore
Fullerton- services the entire city of Bangalore through their single branch
We understand the requirements of business owners and hence provide different alternatives if you are looking for small business loans in Bangalore. Through the medium of private as well as individual lenders, it is possible to get startup business loans in Bangalore through the P2P mechanism. This allows small businesses and startups to place requests online and get the requirement financed by individual lenders from across the country. The peer to peer lending route changes the entire scope of unsecured business loans in Bangalore by cresting a whole new channel to borrow and lend. So if you have or own one of these types of business then leave your requirement by filling our form online or call us on the numbers provided.