Best Business Loans in Mumbai
Mumbai is the commercial and financial capital of the country and also a haven for people who want to start their own business. It provides huge opportunity to pursue various kinds of entrepreneurial ideas with potential for success. Mumbai is growing fast every year and many people from different parts of the country make it home every year. To cater to the growing needs of the populace, the scope is great to undertake commercial activities in any number of diverse sectors. As the financial capital, Mumbai provides different avenues to secure business loans to fund your dream ventures. Right from the organized to the unorganized sector, almost any business can seek funds for any number of reasons from sustenance to expansion.
Almost all the nationalized and private financial institutions provide business loans in Mumbai to a variety of entities engaged in commercial activities. These loans can range from a few lakhs to crores depending on the nature and scope of your business. To apply for a business loan in Mumbai, the details of your business like number of years of operation, accounts, revenues and profits are considered. Most banks/NBFCs will have quite strict criteria to approve a business loan. But some private lenders might be willing to offer a loan at a relaxed criteria for some businesses. There are also special schemes that banks/NBFCs allow for special categories like women, start-ups, certain sectors etc.
Some of the documents required are a business loan in Mumbai are company ID proof, IT returns for 3 years, your bank statements, audited financials, address proof, Board resolution, etc.
A business loan in Mumbai can be obtained from almost all major banks and financial institutions like HDFC, ICICI, Axis, Kotak, Bajaj Finserv, Tata Capital and Fullerton. Apart from this, there are a lot of big and small private lenders who would be willing to advance quick and short-term business loans. So if you are a businessman or self-employed professional in need of business loan in Mumbai then contact us to get more details.
Banks and NBFCs offering business loans in Mumbai
ICICI Bank - is the second largest private sector bank in India which has approximately about 187 full and part service branches in the city of Mumbai
HDFC Bank - is the largest private sector bank in the country and operates in Mumbai from approximately about 195 branches
Axis Bank - is the third largest bank in the country in the private sector and operates about 136 branches in the city of Mumbai
Kotak Bank - is a large bank in the private sector which works in about 106 branches in the city
Citibank - is operating out of about 5 branches in the city of Mumbai
Bajaj Finserv - is one of the largest NBFCs in India with 7 branches in Mumbai city
Tata Capital - is again a well-known NBFC with about 7 branches in Mumbai
Fullerton - services the entire city of Mumbai through their 4 branches