Chennai has been rated as one of the safest cities in India that also offers a high quality of life. The industrial output in this metropolitan city is competitive and it is home to several large-scale Indian and multinational companies. Chennai has a broad industrial base with multiple economic growth drivers varying from automobile, health, tourism, software services and hardware to textiles, apparels and financial services. New as well as existing businesses are able to thrive in this fast-paced economy by availing financial support and business loan in Chennai.
Commercial areas in Chennai have witnessed rapid development in the past few years moving from CBD (Central Business District) to suburban areas such as Sholinganallur, Anna Nagar, Tambaram, Velachery and Ambattur. Regarding IT and software services, Chennai hosts the TIDEL Park located in Taramani, which has been named as Asia’s largest IT park. Other major companies are set up along the Old Mahabalipuram Road, Kandanchavadi, Porur, Thorappakkam and Guindy. The established major seaports that contribute greatly to the economy are located in E KalMandapam Road and Coromandel Coast. The Heavy Vehicles Factory (HVF) is located in Avadi, while most of the automobile manufacturing plants are situated further away from city limits.
To grow strategically and stabilise their operations during challenging times, these businesses can benefit from business loan in Chennai.
Businesses looking to fund their project or grow their business can avail themselves of quick and easy business loan in Chennai from Capital Float. We offer flexible working capital loans on short-term or long-term investments based on your requirement. Minimal documentation, hassle-free processing, easy repayment procedure and personalised loans tailor-made for your business needs are some of the benefits you get out of collaborating with us.
This is what Capital Float’s tailored loan portfolio looks like for business loan in Chennai:
Term finance is best suited for manufacturers, resellers, distributors and traders. The eligibility is straightforward and enterprises need to have an operational history of three years along with an annual business turnover of ₹1 crore. It is also important to have a CIBIL rating of 650 or higher. The required documents are simple too, and include KYC documents of the borrower and the firm, VAT returns, ITR for the last two years and six months’ bank statements.
Online Seller Finance is tailored to suit the specific requirements of enterprises that trade on e-commerce platforms. Such units must possess an operational history of one year and have a partnership vintage of at least six months in order to apply for a loan with Capital Float. They will also need to submit bank statements for the previous six months and KYC documents for themselves and for the firm.
Businesses like retail stores and restaurants can benefit from Merchant Cash Advance offered by Capital Float, if they earn much of their revenue from point-of-sale (POS) machines. The conditions for eligibility includes an operational history of at least an year, monthly card sales volume of ₹1,00,000 and at least six settlements per month. To avail yourself of this loan, you will need to furnish documents such as the current account documents for your business, six months’ VAT returns, card settlement statements and KYC documents for yourself and for your promoter.
If you face delays in payments on account of outstanding invoices, and if these are affecting your operations, the Supply Chain Finance product designed by Capital Float is perfect for you. You can consider yourself eligible for the loan if you have an operational history of more than two years, customer vintage of over three months and a minimum turnover of over ₹1 crore. The documents to be submitted include VAT returns and bank documents of the last 6 months, KYC documents of self and the firm andinvoices for the last three months.
If you are a business owner, you can visit our website or contact our representative at 1800 419 0999 to avail a business loan in Chennai that is best suited for your business.