Best Business Loans in Pune
Pune, the cosmopolitan city is a melting pot for people from across India especially students who flock to its various colleges of high repute. Although an industrial hub, business was traditionally not a popular recourse in the city till the turn of the century when the city started growing at a rapid pace. The IT sector has taken off in a big way and people are also realizing the potential of entrepreneurship with the success of many businesses. The growth of the businesses is dependent on the availability of adequate finance to fund their commercial pursuits. Sources of funds have become important and not just as base capital but also to kickstart expansion. Many private financial institutions in the city are keen to provide this finance to establishments in the form of business loans.
There are many banks, NBFCs and a private financial source which can fund your requirements if you are an 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 Pune 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 Pune 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. For more details on getting a business loan, fill your details and contact us.
Banks and NBFCs offering business loans in Pune
ICICI Bank - is the second largest private sector bank in India which has approximately about 67 full and part service branches in the city of Pune
HDFC Bank - is the largest private sector bank in the country and operates in Pune from approximately about 104 branches
Axis Bank - is the third largest bank in the country in the private sector and operates about 47 branches in the city of Pune
Kotak Bank - is a large bank in the private sector which works in about 30 branches in the city
Citibank - is operating out of about 1 branch in the city of Pune
Bajaj Finserv - is one of the largest NBFCs in India with 3 branches in Pune city
Tata Capital - is again a well-known NBFC with about 3 branches in Pune
Fullerton - services the entire city of Pune through their 2 branches