How to take Mahindra Finance Business Loan?

Mahindra Finance Business loan in Hindi Mahindra Finance Business Loan : In this article, we will provide you information about Mahindra Finance Business Loan. Before taking a business loan you should know that What is business loan? You can take loan for any of your business whether your business is new or old. Like other banks and Non-Banking Financial Company (NBFC), Mahindra Finance is also providing business loan to the customers at attractive interest rates.

Mahindra Finance is India’s largest Rural Non-Banking Financial Company (NBFC) which provides financial assistance to meet business needs. Before applying for a business loan from any lender, you need to know about that loan. business loan interest rate It is important to have information about. You can apply for this loan both online and offline.

In this article, we will know in detail what is Mahindra Finance Business Loan, what is the interest rate, eligibility, documents of this loan and how can we apply for this loan etc., so you can complete this article till the end. read.

Also read: HDFC Bank Business Loan

HIGHLIGHTS:

loan name	Mahindra Finance Business Loan 2022
lender	Mahindra Finance
loan tenure	Varies depending on loan
loan amount	Varies depending on loan
Application Mode	online / offline
official website	https://www.mahindrafinance.com/

Also read: Bandhan Bank Business Loan

Mahindra Finance Business loan 2022

When we take a loan to start our business, expand the business or meet any expenses related to the business, then it is called business loan. business loan Secured & Unsecured loan There are both types. In those which are secured business loans, you have to give security or guarantee to take the loan, but for taking unsecured business loan, you do not have to give any security or guarantee, rather this loan gives the customer his CIBIL Score is given on the basis of

You must have a good credit history to avail the loan. For small and medium enterprises, the Government of India has made many Government Business Loan Scheme Have run which you can take advantage of. Mahindra Finance provides SME Loans (Small and medium-sized enterprises) to the customers. Many types of business loans are provided under Mahindra Finance Business loan.

Also read: IIFL Business Loan

Mahindra Finance Business Loan Types

Mahindra Finance offers various types of business loans to the customers. All these loans have different features which you can see here:

• Industrial project financing
• Equipment financing
• Corporate loans
• Secured business loans
• Lease rental discounting

Also read: Lendingkart Business loan

1. Industrial Project Financing

• Under this loan, you can get a loan amount up to Rs 40 crore.
• Margin: Depends on the profile of the customer.
• Loan Tenure: Up to 6 years.
• Security: 1.5 times the normal asset cover.
• Loan processing time: 20 working days.
• You can prepay your loan. Foreclosure charges at 2% will be applicable on the outstanding principal.

2. Equipment Financing

• Loan amount up to Rs.40 crore.
• Margin requirement: Flexible.
• Loan Tenure: 6 months to 5 years.
• Security: 1.5 times the normal asset cover.
• Loan Processing Time: 10 working days.
• You can prepay your loan. Foreclosure charges at 2% will be applicable on the outstanding principal.

Also read: Government Business Loan Schemes

3. Corporate Debt

• Loan amount up to Rs.25 crore.
• Loan tenure 1 to 5 years.
• Security: 1.5 times the normal asset cover.
• Loan Processing Time: 10 working days.
• You can prepay your loan. Foreclosure charges at 2% will be applicable on the outstanding principal.

4. Secured Business Loan

• Individuals, Proprietorship, Partnership, Public and Private Limited companies who need loan for business expansion can apply for this loan.
• Loan Amount: Based on the valuation of the property.
• Loan Tenure: Up to 7 years linked to the business cycle.
• Security: 1.5 times the normal asset cover.
• Loan Processing Time: 3-4 working days.
• You can prepay the loan. No foreclosure fee.

Also read: Bajaj Finance Business loan

5. Lease Rental Discounting

• Loan amount up to Rs.25 crore.
• Loan tenure 6 years.
• Security: Mortgage of property under lease.
• Loan Processing Time: 10 working days.
• You can prepay your loan. Foreclosure charges will apply.

SME Loan

There are some loans that you can take for a short period of time, which are given below:

Short term loans:

• You can take this loan to meet any expenses related to your business.
• The loan tenure of this loan is up to 12 months.
• The loan amount is up to Rs.25 crore.
• Margin requirement: Flexible.
• Security: 1.25 times normal asset cover.

Also read: Axis Bank Business Loan

Billing discounting:

• This facility gives discount in sales bills of reputed customers which, in turn, helps in reducing the cash cycle for the business, freeing up cash for working capital, business financing and other requirements.
• Loan amount up to Rs.40 crore.
• Loan tenure up to 12 months.

Revolving short terms loans:

• This is a one-use product to meet your business needs.
• You have the facility to withdraw in installments as per your requirement. Each withdrawal amount is repayable after 2-3 months. You can withdraw any number of times as long as your current balance is not within the sanctioned limit.
• This loan has the flexibility to meet the seasonal demands of high inventory.
• annual Review.
• Cycle of 30-60 days.
• Debt portion payable after cycle time.
• Tenure up to 36 months.

Also read: ICICI Business Loan

Mahindra Finance Business loan Eligibility

Only those people can apply for this loan who are eligible for it. Before applying for the loan, you should have all the information related to your business such as your type of business, business plan, your credit score, credit history etc. Below are some of the eligibility criteria to apply for Mahindra Finance Business Loan which you can check:

• Any person can take advantage of this loan to start his business or expand his business.
• People engaged in specified occupations like agriculture and food processing, automobile and auto ancillary are eligible.
• Your business must be in operation for at least 3 years.
• Your business should have earned income in the last financial year.
• If your business is doing very well then the lender can approve your application.
• If you are a reputed and renowned Automobile Original Equipment Manufacturer tu can be considered for your application.

Also read: Bank of India Business Loan

Mahindra Finance Business loan Documents required

Before applying for the loan, you should have all the documents in front of you. You can get information about the document by visiting your nearest Mahindra Finance branch. To apply for Mahindra Finance Business Loan, you need to have the following documents:

• Audited Balance Sheet for the last three financial years.
• Collateral offer.
• A business profile detailing your existing products.
• The purpose for which the loan will be used.
• Profile of owners with Know Your Customer (KYC) documents.

Also read: SBI Business Loan

How to Apply for Mahindra Finance Business Loan?

If you fulfill all the conditions of this loan then you can apply for this loan online and offline. To apply, follow the steps given below:

Mahindra Finance Business loan online apply

• After visiting the website you business loan To click on the option.
• All the information related to business loan will come in front of you.
• You have to read this information correctly.
• to apply Apply now Click on the option.
• A form will open in front of you.
• Enter the requested information in it and click on submit.
• After this the employees of Mahindra Finance will contact you and the loan process will be issued further.

Also read: Shriram Finance Business loan

How to apply offline?

• To apply offline, you have to first visit your nearest branch of Mahindra Finance.
• Contact the branch staff and inform them about your business plan.
• Fill the form for the loan and attach the documents with it and submit it there.
• If your loan is approved then the loan amount will be transferred to your bank account.

Also read: SBI Business Loan for Womens In Hindi

Mahindra Finance Business loan EMI Calculator

Before applying for a business loan from any lender, you should calculate the EMI (Equated Monthly Installment) of that loan so that you do not face any kind of trouble at the time of loan repayment. You can visit the official website of Mahindra Finance Business Loan EMI Calculator With the help of this you can calculate the EMI of your loan.

The EMI of the loan depends on the loan amount, interest rate and loan tenure. As soon as you click on this link, an EMI calculator will open in front of you. In this, you have to select the following information and your EMI will come in front of you.

Also read: What is a two wheeler loan and how to get it?

Mahindra Finance Customer care number

• Email: share.mmfsl@mahindra.com
• Toll free number: 1800 233 1234 (Mon–Sat, 8am to 8pm)
• WhatsApp number: +91 7066331234

Conclusion

In this article, we have provided you complete information about Mahindra Finance Business loan. Any person can take advantage of this loan to start his business or to expand the business. if you Mahindra Finance Business Loan If you face any problem in applying for this, then you can contact on its helpline number.

Hope friends, you have found this article informative. If you liked this article, then do share it.

Also read: Car Loan Kaise Le?

Questions Related to Mahindra Finance Business Loan: