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SMC Finance Business Loan
SMC Finance Business Loan
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SMC Finance Business Loan
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SMC Finance Business LoanHere are a few factors
| Location | 50 Km from Branch |
| CIBIL Score | 680+ |
| Processing | Offline |
| Business Vintage | 3 Year |
| Minimum Turnover | 2Cr+ |
| Loan Amount & Tenure | 10
Lac-75 Lac (24 month-36 month) |
| Loan Product | Term Loan |
| Rate of Interest & Type | 16% to 22% (Reducing) |
| TAT | Sanction-3
Days Disbursement-7 Days |
| Processing Fees | 2% |
| Foreclosure Charges | 4% |
| Applicant Type | Any Self Employed Person |
| Whether Co-Applicant Mandatory | Yes |
| Proprietor Age/Co-Applicant Age | 25 Year-60 Year |
| Part Payment Allowed | No |
| Whether Ownership Proof Required | Yes, Either Office or Residence should be owned in lending branch jurisdiction |
| Business Registration Proof Mandatory | Yes |
| Program | 1.
Banking-20 Lac 2. ITR Program-35 Lac 3. Income Program-75 Lac |
| Product for Professionals | No |
| Negative Profile | School,
Advocates, Jewellers, Share Traders, Liquor Business, Real Estate, Gym, Liquor
Business, Hotel & Restaurant, Aviation Sector |
| USP | 1. Funding to Manpower Industry,Iron & Steel Industry & Textile Industry |
| Additional | 1.
51% Shareholding required on Loan if applicant is LLP/Partnership
firm/Company 2. CIVIL Contractors, Coal Industry are catious profile |
SMC Finance Business Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 16 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,073 |
| Total Interest | ₹ 8,877 |
| Loan Amount + Interest | ₹ 108,877 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 23,530 | ₹ 3,689 | ₹ 27,219 | ₹ 76,470 | 23.53 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 76,471 | ₹ 5,186 | ₹ 81,657 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Documents Required for SMC Finance Business Loan
Business loan eligibility is based on basic terms like CIBIL score, age, business turnover, and more that candidates must fulfil to avail business finance
Let’s look into the required Documentation to make your application process even smoother:
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Note : SMC Finance Business Loan may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.
Some Important Points
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
About SMC Finance Business Loan
SMC Finance Business Loan provides a collateral-free, EMI-based business loan that allows you to grow your company, invest, and meet your working capital requirements. With the assistance of a business loan, you may boost your business or exchange your machinery and gear.
With SMC Finance Business Loans, you may set out on a journey of business achievement and development. As an entrepreneur seeking to broaden your horizons, you've discovered a trustworthy partner when you choose SMC Finance. The simple application process here guarantees that you get the funding you need quickly, letting you solely concentrate on growing your business.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
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