Business Loan for Manufacturers

Manufacturing Loans upto 50 Lakhs | Flexible Repayment Options

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✓Minimal Documentation ✓Flexible Repayment ✓Collateral Free Loan | Apply for Business Loan Now! Apply Now

The manufacturing sector plays a pivotal role in the growth and development of the country. Businesses that are into manufacturing create employment opportunities for others and contribute to the nation's GDP. To continue this growth trajectory and take the manufacturing industry to new heights, business owners will require a robust source of financing. This is where a business loan for manufacturing unit is essential. A manufacturing business may need a loan for any number of reasons. A few of them are listed below:

Investing in a new product: Creating a new product from scratch takes a lot of experimentation, which has a high upfront cost.
Expanding production: Setting up a new plant can lead to unexpected overhead expenses and other problems, resulting in a tight cash crunch.
Lack of New-Age Technology: Manufacturers have to keep with the times in this day and age. To do that, purchasing the latest equipment and upgrading existing infrastructure is key to retaining customers and bringing in new ones.

Whatever your requirement is, you can opt for a manufacturing loan on Bajaj Markets to suit your own unique business needs and reap a host of features and benefits.

Features and Benefits of Manufacturing Business Loan

A Manufacturing business loan comes with a lot of unique benefits:

Comfortable upper limit: No matter how big an operation you are running, you will find a loan policy that fits your capital-intensive business. On Bajaj Markets, you can get loan amounts as high as Rs. 50 Lakhs.

Flexible repayment policies: Manufacturers' business loans have flexible repayment schedules - every business and business owner is different; thus, loan providers keep the loan terms flexible to suit the unique needs of one's business. Therefore business loans have very flexible repayment policies. On Bajaj Markets, repayment tenures can range from 12 to 60 months.
Doorstep delivery: To build a personal relationship, business loan providers send well-trained, well-informed representatives for any doubts, questions, or consultations to their customers' doorsteps.
Online Application and Online Approval: Both the application and approval for manufacturing business loans can seamlessly occur online. With Bajaj Finance Business Loans for manufacturers, available on Bajaj Markets, the funds can be transferred to your account in just 24 hours.
Minimal Documentation: To speed up the application process and make things as convenient as possible for applicants, business loans on Bajaj Markets have a simplified, non-intrusive, and speedy documentation process.
No Collateral Required: Guarantors and collaterals can slow down the access to loans for people - therefore, the business loans for manufacturing on Bajaj Markets require no collateral.

Eligibility for Manufacturing Business Loan

To avail loans for manufacturers on Bajaj Markets, the following eligibility criteria for business loans need to be met:

The age of the loan applicant should range between 26-66 years.
The loan applicant must also have a business vintage of 3 years - they must own and operate a business for 3 years.
The loan applicant’s business’ Income Tax Returns must have been filed for a minimum of one year.

Manufacturing Loans Interest Rate and Charges

One of the many benefits of getting a manufacturing business loan on Bajaj Markets is that there are no hidden charges.

Processing Fees	3.99% of the loan amount is charged
Convenience Fees	₹ 4,499 is charged
ECS Return Fees	₹ 450
Bounce Charges	₹ 3000
Outstation Collection Charges	An outstation cheque comes with a nominal extra charge of 65
Foreclosure Charges	4%

How To Apply for Manufacturing Loans

The loan application process on Bajaj Markets website is as smooth as it can be. Follow the below steps to get your business loan approved in under 3 minutes:

Fill an online form: The online form will gather your personal and employment details.
Specify your terms: Specify the loan amount and repayment tenure.
Wait for your loan: Have your loan amount approved and disbursed to your bank account in no time

List of Documents Required

All the documents required to procure a business loan for manufacturers, is listed below

Identity proof. The loan applicant needs to provide any identification proof issued by the government with the appropriate KYC papers. This ID proof could be a passport, driving license, voter ID card, etc.
Address proof. Electricity bill, ration card, telephone bill, or any other document with your current address on it can be submitted as the address proof in the loan application.
Financial records. A business balance sheet audited by a CA (of the last 2 years) and a bank account statement(of the last 6 months) must be submitted with your loan application.
Proof of business ownership. For self-employed people, IT returns suffice as proof of business ownership.

Manufacturing is the backbone of a country’s economy - and the business loans for manufacturing on Bajaj Markets are custom built to finance your manufacturing expansion. Whether you need a short-term loan to tide over a cash crunch or require a long-term loan to boost the long-term viability of your business, your needs will be fulfilled through a business loan that is tailor-made for you at Bajaj Markets.

Disclaimer

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.