Non-Banking Finance Company (NBFC) is an excellent backing to the Indian economy by lending different funds to borrowers, registered under the Companies Act 2013. NBFCs give loans and advances and acquire equities, stocks, debt, etc. These businesses include pawn shops, chit funds, pawn, cashier’s cheque issuers, payday lending, currency exchanges, and microloan giving firms. 

In developing countries like India, NBFCs play a significant role where more than half of the population belongs to the rural section. Also, commercial banks are not available remotely in these areas, so NBFCs lend a helping hand to the people by providing financial services.

Some of the advantages of NBFC are: 

• NBFCs are quicker than banks
• Providing credit facilities and loans 
• Puts resources into currency market instruments
• Manage assets by participating in activities such as portfolio and equity portfolio management
• Funds private education
• Supports investment in properties
• Helps in retirement planning
• Guides companies in acquisition and merging
• It serves as an option for borrowing money where banks are not available

Cholamandalam Investment & Finance Company Ltd is a leading NBFC in India that offers a wide range of financial products like home loans, home equity loans, auto loans, SME loans, stock broking, and so on at modest interest and return rates. It was incorporated in 1978 with its headquarters in Chennai. 

Cholamandalam Investment and Finance Company has 1029 branches all across the country with over 7000 employees. The company also has about 16000 people to support in different business activities, with the majority from the smaller towns.  

Cholamandalam Investment holds the vision to enable its clients to enter a better life. The company has a growing clientele of more than 8,000 satisfied customers across the country. The company has maintained a clear view of its values since its inception and throughout its growth. The basic principle of these values ​​is strict adherence to ethics and responsibility to everyone in the corporation – customers, shareholders, employees and society.

About Cholamandalam Investment and Finance Company business loans:

Cholamandalam’s Business Loan and SME loans hold quite an importance and popularity. Chola SME Loans or business loans are offered exclusively to Small and Medium Enterprises (SMEs) to expand and grow in their business. Cholamandalam Investment & Finance offers various financial solutions to meet working capital requirements, enhance business cash flow and meet short-term or long-term funding requirements.

The following details will focus more on it and its various features, along with the ROI, eligibility criteria, application process, etc. 

Benefits of Cholamandalam Investment & Finance’s business loans:

• With it, businesses can take loans to purchase, install or upgrade business equipment and other fixed resources.

• The company’s term loan can help to expand your business or procurements. 

• Businesses can use this loan to refinance outstanding debt. 

• Cholamandalam’s business loans will help you strengthen your payment plan by providing a consistent payment amount

• With it, the applicant gets a peace of mind by bearing your costs on debt as interest rates rise

Features of Cholamandalam Investment & Finance’s business loans:

• Provides loans that start from Rs.10 lakhs and up to Rs.5 crores

• Have easy and suitable repayment facilities

• Provides flexible tenure

• Loans are available for small and medium businesses as well as to any Private LTD, Partnership or Proprietorship Company

• Floating or fixed rate of interest

• Acceptable Collateral: Commercial Property | Residential Property | Industrial / Factory Land and Building

What documents does an applicant require to submit while applying for a business or SME loan in Cholalamandalam Investment & Finance? 

An applicant requires to submit the following the documents:

KYC Documents for Proof of Identity and Authentication

It may be A valid passport, driving license, Voter ID, Aadhar card, pan card, ration card, bank passbook with the latest statement, and photo attested. You may also give employee photo ID cards issued by Govt., Registered property documents with photographs, or any other government-issued ID proofs like post office ID cards.

Additional documents: 

Valid PAN card, Board Resolution, Shop & establishment Act certificate, Certification of incorporation or other incorporation documents, Sales tax registration certificate, MOA/AOA with the registration certificate, Registered partnership deed.

For address proof:

Valid passport, Voter identity card, Valid driving license, Latest property tax receipt (Not more than six months old)

Any additional documents:

Shops and establishment certificate, Sales Tax registration certificate, Registered lease deed, Latest property tax bills (Not more than six months old), Latest telephone bills (Not more than six months old), and Latest utility bills. (Not more than six months old)

To know more details on SME loans from Cholamandalam. You can email [email protected] or call at  +918886666821.