Hyderabad—the capital of Telangana, hosts multiple industries in the manufacturing, tourism, retail, and IT sectors. The city boasts excellent connectivity which gives it its status of being a commercial hub. Also known as the City of Pearls owing to its history in trading diamonds, the streets of Hyderabad are embedded with establishments selling items of all tastes and types.
The presence of multiple MNCs and industries contributes to an excellent economy that in turn, provides great opportunities to entrepreneurs. Hyderabad is among the top cities for owning a business and the availability of banks and financial institutions in the city makes it easier for organizations to receive a business loan in Hyderabad.
Reasons to take a business loan in Hyderabad
Beneficial for Diverse Businesses – Established franchises have a vast and diverse array of needs. This is because they are in the initial process of establishment and this stage poses many demands such as marketing, equipment, and other hefty expenditures. By availing a business loan in Hyderabad, corporate firms can have access to funds required for their inauguration and growth.
Affordable interest rates – Banks and financial institutions in Hyderabad offer business loans with flexible tenures and a highly feasible business loan interest rate.
Smooth operation – To undertake responsibilities and incur day-to-day expenses, businesses need working capital. Without meeting the essential expenses of rent, overhead, and payroll on time, a business cannot operate smoothly. Moreover, even after meeting the necessary requirements, a business must have sufficient funds to facilitate expansion and venture new opportunities. Therefore, by applying for unsecured business loans in Hyderabad, organizations can secure the capital required for a seamless operation.
Reasons to choose HFS for your business loan
Customized loans – HFS offers customized loan plans to meet the requirements of all businesses. We allow borrowers to calculate their EMI on our website and choose a tenure accordingly. HFS’ easy availability of secured as well as unsecured business loan benefit organizations of every scale and kind.
Excellent service – We provide lightning-fast approval and minimal documentation to simplify the process for borrowers. Our institution also comes equipped with a doorstep facility thus enabling individuals to access loans from within the comfort of their homes. Such services have earned HFS the title of one of the topmost small business loan providers in Hyderabad.
Convenience and affordability – HFS provisions desirable plans for both secured and unsecured business loans in Hyderabad. By seeking our assistance, organizations can access large loan amounts for feasible interest rates and convenient tenures.
Transparency – Being one of the most reputable small business loan providers in Hyderabad, HFS guarantees complete transparency in the lending process. We have over 40 branches across 7 states and our flawless services have allowed us to earn the trust of business owners across the country.
Eligibility criteria for availing business loans from HFS
To meet the standards of our business loan eligibility, applicants must fulfil the following criteria:
- Be at least 21 years of age
- Have a minimum experience of 3 years in business
- Receive an annual income of 24 Lacs
- Be known as a profit-making business in the last 2 years in the case of partnership firms and private limited companies
Necessary documents for availing a business loan
To apply for a business loan online from our institution, the following documents need to be submitted:
- Proof of identity
- Proof of residence
- Bank statements of the last 6 to 12 months
- Latest ITR and certified computation of income
- Business continuity proof
- Copy of Partnership Deed
- Copy of property documents and collaterals in the case of secured loans
By providing the aforementioned documents, you can become eligible for a business loan at HFS. Receiving a loan from our institution will allow you to not only acquire a working capital but also expand and grow your business to meet your goals.