Business Loan in Mumbai

Mumbai is financial and commercial capital of India and a great place for individuals who wish to open their own businesses. The city provides big opportunities of pursuing different types of entrepreneurial ideas and potential to be successful. The city is experiencing growth at a very fast pace and many people come here to live from various parts India every year.  To fulfil the requirement of growing population, good scope is there for undertaking the commercial activities in various sectors.

As a financial capital of the country, the city offers various avenues for securing business loans for funding people’s dream ventures. Be it organized or unorganized sector, approximately every business may avail funds for reasons like sustenance or expansion. Nearly all the private and public financial institutions offer business loans in the city for different entities that are engaged in the commercial activities.

Business Loan Eligibility in Mumbai

To be eligible for business loan in Mumbai, one needs to own the business (completely or partially), and have a convincing financial profile. He/she must meet the age criteria and credit score needed. Eligibility factor differs from one financial institute to another.

Loanbaba Business Loan in Mumbai, Navi Mumbai and Thane provides all the information about Business Loans in Mumbai. You can get online business loan application form at our website. Check best business loan provider in Mumbai, Navi Mumbai and Thane under one window. For business loan Thane and Mumbai contact us.

Business Loans Interest Rates in Mumbai and Other Details

Business loans in Mumbai can be availed up to Rs. 5 crores and the amount depends on the scope and nature of the business. For approval of your Mumbai Business Loan, your business details such as operation years, accounts, profit and revenues will be considered. Most of the NBFCs or banks have strict criteria for approving business loans. The business loans rates in Mumbai depend on business turnover, profit, income of the applicant, financial condition of the company, loan amount and tenure etc. 

Documentation Required for Mumbai Business Loans:

The documentation needed to avail business loan in Mumbai include proof of address ,  IT return of last three years, audit report of company finances, bank statements, ID proof of the company etc.

NBFCs and Banks Providing Business Loans in Mumbai: 

Providers for Business loan in Navi Mumbai, Mumbai and Thane are as follows.

  • HDFC Bank:  It is largest bank in private sector in India and there are almost 195 branches of the bank in the city. 
  • ICICI Bank: It is the 2nd largest bank in private sector in the country and it has almost 187 branches in Mumbai.
  • Axis Bank: It is the 3rd largest private bank in India and it has approximately 136 branches in Mumbai. 
  • Kotak Bank: It is a renowned private bank in the country and it has almost 106 in Mumbai. 
  • Citibank: it is a reputed bank and operating with 5 branches in Mumbai.  
  • Bajaj Finserv: it is among the reputed NBFCs in the country and has seven branches in the city.
  • Tata Capital: it is also a renowned NBFC with about seven branches in the city.
  • Fullerton: It operates in the city with its four branches.