
Tax Benefit
Upto Rs. 46800
Tax Benefit
Upto Rs. 46800
Tax Benefit
Upto Rs. 46800
A sprawling city in one of the country’s biggest states – Uttar Pradesh – Kanpur is an important financial, commercial, and industrial centre. The city is known for its famous leather and apparel products, which it regularly exports to other countries. As a result, Kanpur is widely referred to as the ‘leather city.’ Kanpur is one of the crucial business hubs of North India.
Upto Rs. 46800
Upto Rs. 46800
Upto Rs. 46800
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The desi town with modern amenities is Kanpur, situated on the riverbank of the holy Ganges. Although Pan masala memes based on Kanpur rule the Internet these days but Kanpur has lot to offer as it is a large industrial city. It’s known as “The Manchester of East” and is home to many textile and leather factories. Moreover, Kanpur has become a popular destination for aspiring entrepreneurs.
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A sprawling city in one of the country’s biggest states – Uttar Pradesh – Kanpur is an important financial, commercial, and industrial centre. The city is known for its famous leather and apparel products, which it regularly exports to other countries. As a result, Kanpur is widely referred to as the ‘leather city.’ Kanpur is one of the crucial business hubs of North India. The city is home to leather, textile, chemical, tobacco and paan masala, pharmaceutical, steel and other agro-based industries, generates huge revenue, and employs a good labour force.Â
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The city that once housed—and still does—the renowned “Lal Imli” woollen factory, numerous cotton mills, ICI Limited (now known as Duncuns Fertilizers), RSPL, LML, Pan Parag, and one of the biggest leather businesses in the world.
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One of the city’s most prominent defence facilities is located, including Hindustan Aeronautics Limited (HAL), DMSRDE, the Small Arms Factory (SAF), the Field Gun Factory, and the Parachute Factory.
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A solid commercial hub and excellent infrastructure, Kanpur is becoming a famous city for entrepreneurs. The high number of colleges & universities in the area makes it easy for startups to hire skilled labour, available in huge supply.
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Moreover, due to its geographic location, Kanpur is a hub of many banks and NBFCs that offer business loans. And if you, too, are looking for any business loan in Kanpur, don’t worry!
This article will guide you to the best commercial credit options in Kanpur. Ready to get a business loan offer?
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Starting a new company is challenging for some people. Applying for a business loan is one of the first steps in the process. These days, small business loans have become quite common and are often seen as the first step in starting a new business.
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The business loan is the most popular type of financing in the current business climate. These loans are easy to acquire and come with various benefits that make them the best option for most businesses, such as flexible repayment options, low-interest rates, and much more.
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Choosing the best loan for your business can be tricky, given the variety available. Therefore, you must seek the expert advice of a financial advisor to help determine how much capital you need, what kind of loan option will be the most beneficial for your company, and what interest rate would be appropriate for your situation.
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This article will explore the different types of loans available to businesses so you can decide which type is best suited for your needs.
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There are plenty of reasons why Kanpur is a great place to do business.
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The article provides a quick overview of the various types of loans most common among business owners in Kanpur. It is followed by a long list of top banks in the city, their contact information, and links to their websites.
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There are varieties of business loans available to entrepreneurs. The loan would depend on certain factors, such as credit score, loan amount, and the duration of the loan. In addition, it depends on your financial goals.
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Term Loans: These loans are for a limited period, have a fixed interest rate, and must be repaid over the loan repayment period.
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Equity Loans: These loans use a company’s share as collateral. Interest rates depend on the market. However, they are generally significantly lower than other types of loans because there is less risk to the lender.
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Debt Consolidation Loan: This Personal Loan is used to pay off all your outstanding debts, including credit cards and other personal debt, in one monthly payment at a lower interest rate than before.
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HDFC offers special credits for businesses to strengthen against the pandemic with tailored interest rates to enable firms to operate with less financial stress. With the commercial Loans offered, you can get up to Rs. 75 lakhs.
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Major Highlights :Â
Loan Eligibility: The customer must meet the current policy constraints for the Business Loan.
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Loan Amount: About 75 Lakhs for MSME and SME.
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Loan Tenure: Up to 72 months for Doctors and 48 months for self-employers.
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Liquidity is crucial to running any business for any manufacturer, retailer, trader, or a business owner. However, meeting expanding business requirements also doesn’t come automatically. The bank enables collateral-free secured credits with easy EMI-based repayment options.Â
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IndusInd Bank offers business Instalment Loans, an unsecured loan based on three years of audited financials and business experience; IndusInd, which recognises innovation and entrepreneurship, creates financing alternatives to assist businesses in development.Â
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Major Highlights :
Eligibility requirements:
Financial
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Minimum Turnover: Rs.1 crore in the most recent fiscal year and 3 years’ worth of audited financials.
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Non-Financial:
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One of the top private sector banks is South Indian Bank. The bank offers a variety of financial products, such as company loans, commercial vehicles and equipment loans, working capital financing, long-term financing, non-fund-based financing, supply chain financing, and domestic financing.
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Increase your firm’s reach with a collateral-free business loan. You can get one with a maximum value of INR 1 crore and a term of up to 4 years and get credit evaluations based on GST statements completed promptly. Utilise the top-up facility based on your past success with loans.
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Those that qualify for a business instalment loan include:
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The necessary documents needed to submit a business credit application include:
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The online application process is accessible 24 hours a day, 7 days a week, and you can get an answer in minutes.
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Several factors contribute to the time it takes for a loan application to be approved, such as whether you apply for the loan in person or online. Generally speaking, although the process can take up to 2 months if you apply by phone or in person, the process usually takes about 2 weeks when applying online.
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To know more details on SME loans from Kanpur . You can email contact@startupyo.com or call at +918886666821.
It will firstly impact both applicant and the guarantor’s CIBIL score, which will lead to the rejection of your future loans. In addition, non-payment of two consecutive EMIs will put you on the defaulter list, and in extreme cases, the lender can sell your assets too.
A business loan can give you access to capital expenditure, growth and acquiring new commercial assets.
Any interest charged on loan for a business is not subject to taxation. In addition, you may be eligible for business loan tax benefits on excise and costs if you register as an MSME. The principle sum, however, is not tax deductible.
The amortisation schedule is accessible through the EMI calculator, showing the interest due and EMI amount. Finding cost-effective repayment solutions requires this knowledge, which can aid in decision-making.
A business loan is a type of financial aid offered by banks and NBFCs to help a company get the money it needs to expand or pay its bills.Â