Best Private Finance Providers in Chennai
Chennai is a bustling town with a unique mix of traditional and modern business entities. It is fast emerging with numerous industries making the city their home and bringing in a vast upwardly mobile workforce. Their many requirements for finance are met through financial instruments like personal loans. There are also many businesses which require finance for their operating or expansion needs which requested through business loans. For any such need for finance in Chennai, you have an alternate source of private lenders or private finance. If you cannot procure required funds through the traditional bank and NBFC route or you are in need of quick loan then individual private money lenders can process your need.
Chennai has a lot of private lenders who will give an individual finance or a quick loan for a short duration to individuals or business in need of it. These loan requests are assessed and disbursed in quick time so as to meet your urgent needs for personal finance or business funding. All banks and financial institutions look for specific criteria for individuals and businesses to grant a loan. If you fall short of any of these then as per current rules you might not be able to procure a loan from them. Private lenders through a P2P platform look at your ability to pay back as per disposable income while processing your loan request.
As an individual you will need to show proof of income, current liabilities and job or experience in current craft or trade as well as other factors while applying for private finance. In the case of business, these criteria include your revenue, profitability as a percentage of revenue, balance sheet, cash flows and other factors. The nature of private finance is to provide funds for a short duration and individual finance. You will need to pay the loan back along with interest in quick duration. The interest rate is pre-agreed with the lender and you will have to sign notarized documents as well as issue PDCs directly to the vendor in lieu of your EMIs. The entire process will take a short time and your will be able to avail a quick loan.
Apply with us by calling or filling your details on our form to request for private finance in Chennai. We will help connect your to the private lender in your city and facilitate the entire process. There is also a wide array of bank and NDFC partners who will help with your personal or business loan request if your meet their eligibility criteria. Check our other services like EMI calculator, Eligibility Calculator and CIBIL Calculator for more details.
If you need a Private Finance in Chennai, you must have a good credit history and adequate salary to get your personal loan sanctioned with a Bank or an NBFC in Chennai. Other factors like years of employment, company you work for etc will determine the most important factors like amount, tenure and rate of interest. Some of the banks in Chennai give you the flexibility to pre-close the loan without any additional charges. Most banks have a pre-closure charge in the 4%-5% range.