High Loan Amount
A Business LAP provides funds equivalent to property value, offering buying power for growth opportunities.
Loan Against Property for Business
- Loan up to ₹5 Crore
- Maximum funding on Property Value
- Quick Sanctioning
Running a business requires a steady flow of funds. Whether operating operations or expanding your venture, unexpected expenses can crop up. A Loan Against Property (LAP) for business can be an effective tool for obtaining the necessary funds to empower your idea.
Hero Fincorp offers LAP at competitive interest rates. The streamlined application process ensures a quicker turnaround time so you can seize time-sensitive opportunities and keep your business momentum going. So, you can apply for a Loan Against Property to take your business to the next level.
Running a business is interesting yet challenging. You work hard to make your idea a reality. We believe a financial constraint should not diminish your passion. Let a loan against property (LAP) shield you through this journey. Here are some of the benefits of a Loan Against Property for starting a Business:
A Business LAP provides funds equivalent to property value, offering buying power for growth opportunities.
LAPs offer lower rates than commercial loans, freeing cash flow to fuel steady business growth.
LAPs streamline the application process, ensuring quick access to funds for time-sensitive business opportunities.
LAPs offer flexible repayment options and longer tenures, easing cash flow management and reducing stress.
LAPs offer higher Loan-to-Value ratios, unlocking more funds to help achieve your business goals.
LAPs require minimal, simple documentation, saving you time and effort while building your business dream.
To qualify for a loan against property for new business, you'll typically need to meet certain criteria for mortgage loan:
Your age should not be less than 25 or above 75 years.
You must be an Indian resident.
Business ownership experience for a minimum period might be required.
This criterion might not apply as the loan is secured by property.
Obtaining a LAP for business is easier with minimal documentation:
Duly filled application form, PAN Card
Aadhar Card, ID Card, Driver's License, and Identity Card issued by GOI
Passport, Driver's License, Utility Bill, Voter ID Card, Lease/ Rent Agreement, Registry Copy, Property Tax Receipt, GST Certificate
GST Certificate, UDHYAM Certificate, Partnership Deed Copy, Trade License, Certificate of Practice
Banker's Verification, Passport, PAN Card
Last three years' Income Tax Returns (ITRs), Income Statement, Profit and loss Statement, Balance Sheet, and Bank Account Statement (previous six months)
Complete set of documents pertaining to the property in question
Interest rates on LAP for Business are typically competitive but vary based on your creditworthiness, loan amount, and chosen lender. There might be additional processing fees and prepayment charges associated with the loan. Check the table below for more details:
Applying for a LAP for business is a straightforward process:
Visit Hero FinCorp website and go to the loan against property page.
Check your eligibility from the eligibility criteria section available on the website
On the mortgage loan page, check for the mandatory documents required for a mortgage loan.
Click the 'Apply now' tab and fill in the required information, and submit the online form.
Once Hero FinCorp is satisfied with your details, their executives will get in touch with you.
You may also apply for a mortgage loan by visiting the nearest Hero FinCorp branch or outlet.
