Business Loan from Mohan Finserv
Are you looking to expand your business, manage working capital, or invest in new ventures in Chennai? At Mohan Finserv, we understand that businesses require timely financial support to grow and thrive. Our business loans are tailored to meet the needs of small, medium, and large enterprises, offering flexible financing solutions with competitive interest rates and straightforward processes.
Loan Process and Procedure for Business Loans
Eligibility Assessment
Initial Consultation: Begin with a detailed discussion with our financial experts to identify your business requirements and assess your eligibility for a loan.
Eligibility Criteria: Factors include business vintage (usually 1–3 years), annual turnover, profitability, and credit score. Businesses across industries, whether startups or established enterprises, can apply.
Documentation:
To process your business loan, you’ll need to provide:
Proof of business registration or incorporation certificate.
Financial statements for the last 2–3 years (audited if available).
Income tax returns of the business and the owner.
Bank statements for the last 6–12 months.
Business plan or project report (especially for new ventures or large funding needs).
KYC documents for the business owner(s).
Loan Application Submission:
Complete the loan application form with details about your business, loan amount, and purpose of the loan.
Attach the required documentation, ensuring accuracy to avoid delays in processing.
Evaluation and Verification
Credit Assessment: Mohan Finserv evaluates your creditworthiness, repayment capacity, and the viability of your business plans.
Business Health Check: This involves assessing your business’s financial stability, turnover consistency, and market reputation.
Verification: Property or collateral verification (if required), along with a review of your financial statements.
Approval and Sanction Letter:
Once approved, you will receive a sanction letter with details about the loan amount, interest rate, tenure, and repayment schedule. The terms will also specify whether the loan is secured (backed by collateral) or unsecured.
Loan Agreement Signing
After accepting the terms mentioned in the sanction letter, you will sign the loan agreement. This formalizes the loan and includes all details about repayment terms, interest, and associated conditions.
Loan Disbursement:
Once the agreement is signed, the approved loan amount is disbursed directly to your business account or as specified. For project-specific loans, the amount may be disbursed in stages based on the progress of the project.
Why Choose Mohan Finserv?
Tailored Solutions:
Customized loan options to suit the unique needs of your business.
Competitive Interest Rates:
Affordable rates to minimize the financial burden.
Hassle-Free Process:
Minimal paperwork and fast approvals ensure you get funds when needed.
Expert Guidance:
Dedicated loan advisors to guide you through the process.
With Mohan Finserv, securing a business loan in Chennai is easy and efficient. Our team of experts is committed to helping you achieve your business goals with customized financial solutions. Whether you’re expanding your operations, launching a new project, or managing day-to-day expenses, our business loans are designed to fuel your growth.
Reach out to us today and take your business to the next level.