Apply Business Loan in Mumbai up to ₹40 Lakhs Without Security

INTRODUCTION

Mumbai, the commercial capital of India, is also known as the city of dreams. It is believed that the city has something for everyone. Hub for diverse industries such as jewellery, electronics, petrochemicals, food processing, and textiles, Mumbai offers immense opportunities to those who dare to dream and do not shy away from hard work. The presence of numerous entrepreneurs, both young and old, and budding and established, drives the demand for business loan providers in Mumbai. Even for salaried individuals, business loan providers in Mumbai offer funds to meet diverse financial needs. However, Hero FinCorp can help if you want to obtain a business loan at a competitive interest rate.

Features and Benefits of Business Loan in Mumbai

Hero FinCorp's business loan comes with a slew of benefits and features. Some of the features of our small business loans are

High Loan Amount

Hero FinCorp offers business loans for the amount ranging from Rs 3 lakh to Rs 40 lakh. Whether you are planning to expand your business in Mumbai or are looking to meet short term business expenses, you can fulfil all your business needs by applying for our small business loan in Mumbai.

Collateral Free Loan

Why compile a list of business assets and valuables when Hero FinCorp offers a business loan in Mumbai without demanding collateral? We offer unsecured business loans based on your credit history and income.

Competitive Interest Rate

Our business loan interest rate in Mumbai is based on the risk of lending associated with your profile. If you have a strong credit history and stable income, you may get a business loan at lower interest.

Minimal Paperwork

Since the business loan offered by us is unsecured, the documents we require at the time of application is kept at a minimum. Simply submit your KYC documents, proof of income, and evidence of business existence to receive fast loan approval.

Fast Disbursal

Hero FinCorp’s turnaround time for a business loan in Mumbai is less than 48 hours. So, if you need finances quickly for your business, Hero FinCorp is the best option for you.

How to Apply for a Small Business Loan in Mumbai?

Applying for a Hero FinCorp business loan in Mumbai is simple and convenient. All you need to do is either visit our branch in Mumbai or apply through our website.

Offline Method:

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Visit your nearest Hero FinCorp branch or outlet in Mumbai.
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Learn about our minimum eligibility requirements and documentation process from our representatives.
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Fill in your details, business loan amount, and tenure on the offline application form.
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Before signing the application, read the fine lines.
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Submit the photocopy of your KYC and income proof along with the copy of your business financials.
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Once our officials verify your details and documents, the loan amount will be disbursed to your account within 48 hours of the approval.

Online Method:

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For our online business loan application, Click here
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You may also apply for a loan by reaching us at corporate.care@herofincorp.com or Call 1800-102-4145
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Fill in your details, loan amount, and tenure on the online application form.
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Upload the softcopy of the required documents.
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If your details fit our eligibility, you will receive a reference number on your registered mobile number or email. Save the reference number for future use.
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Then, a Hero FinCorp representative will connect with you for further information.
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Once our officials verify your details and papers, you will receive a personalised loan offer in your mailbox. The offer will include details such as the maximum loan amount as well as our business loan interest rate in Mumbai.
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Once you agree to our terms and send your acceptance over mail, the funds will be credited to your bank account within 48 hours of approval.

Eligibility Criteria for a Business Loan in Mumbai

There are numerous business loan providers in Mumbai, however, if you are looking to apply with us, you must meet the following qualifying conditions.

Occupation

Sole Proprietors, Private Limited Companies, Trusts/ Society, Partnership Firms, Public Limited Companies, HUFs

Business Status

SMEs should have a minimum experience of 5 years.

Maximum Loan Tenure

Flexible payback tenure up to 5 years.

Maximum Loan Amount

You can apply for a loan amount ranging between Rs 3 lakh and Rs 40 lakh.

Documents Required for a Business Loan in Mumbai

KYC documents of borrowers and guarantors
Recent audited financials
GST returns for the financial year
Last 6 months bank statement
List of directors or shareholding patterns (if applicable).

Frequently Asked Questions (FAQs)

What are the reasons for which I can avail a business loan in Mumbai?

A business loan can be used to fund any legitimate business necessity. This loan can be used for a variety of purposes including business expansion, plant and machinery purchases, working capital needs, and so on. There is end-use flexibility in a business loan product.

What are the factors that determine my business loan eligibility?

Some of the common factors that influence your business loan eligibility are:

Applicant's age and income
Business age and revenue
Nature of business
Business creditworthiness
Business debt-to-income ratio

How will I know if my application for a small business loan in Mumbai is approved?

We will send you a reference number when you apply for an online business loan. You may track the status of your business loan using that reference number.

INTRODUCTION