Chennai, the capital of Tamil Nadu is one of the metropolitan cities In India and one of the biggest social, cultural, educational and industrial centers in south India. Chennai is popularly named as “The Detroit of India”, with more than one-third of India’s automobile industry is located in Chennai. Chennai is considered to be safe due to all physical and environmental conditions, enabling attraction of many foreign investment in various sectors of business. Chennai is highly suitable for living with all infrastructure & various resources in all aspects for its inhabitants. It is one of the highly populated cities in India. Entrepreneurs and businessmen find this place to be ideal for their business growth and development.
Chennai and Businessmen
Chennai is inhabited by people from almost all parts of the country and also regularly visited by people from foreign countries. The tourist spots and climatic conditions attracts many foreigners to visit the city. The secret of any successful business is to have their business center in people rich area like Chennai. Thus Chennai attracts not only people to stay but also many businessmen and entrepreneurs to start their business unit in the city. Chennai is hence found be one of the ideal industrial and IT hubs of India enhancing the growth of many successful businessmen.
Segments of Business
Chennai supports various segments of businesses like manufacturing, supply chain, logistics, wholesale, distribution networks and small and medium retail shops in various industries like automobile, medical, pharmacy, banking, production, storage, energy, education, chemical, dairy, grocery products, oil and petroleum, information technology and more. Various investments in new projects are increasing in these sectors of business. There is a wide range of network of businesses that leads to economic development.
Need for Financial requirements:
Due to rapid growth and development of these industries, there is a strong competition among these industries. Any business requires adequate finance and working capital to develop their business to next level. One must find unique strategies to differentiate from their competitors. Financially they should be strong enough to compete in the market place. For any business related activities finance is the most important deciding factor for the success of the business. Thus from small retail stores to large MNC, adequate financial resources are needed to grow, develop and diversify their business to next level. Lack of adequate finance is a great obstacle for many businessmen with great business ideas to grow. Many young entrepreneurs today find financial crisis a major hindrance to continue their business. Timely finance is required for various purposes like buying raw materials, stocks purchases, human resource, machinery and meeting day to day business requirements.
Business loan for Business growth:
There are various sources of raising funds for the business, but the most trusted one is getting a business loan to solve various financial needs. Many banks and NBFC’s are ready to fund for businesses in places like Chennai and other metros. Business loan with efficient interest rates and timely funds helps businessmen to solve their critical financial needs. These loans helps them in many ways like purchasing stocks in advance, paying their day to day business debts, meeting customer and supplier requirements & investment in various assets for the business.
Types of Business loans
Loan for the business can be avail in many ways to solve various business requirements. They include,
• Unsecured Business Loan
• Small Business Loan
• Working Capital Loan
• SME loans for Business
• Invoice Bills Discounting
• Bank Guarantees
• Cash Credit
• Secured Business Loan
Basic Documents Necessary for Business Loan:
• Id Proof – Passport / voter ID / Aadhaar card / Driving licence
• Address Proof – Passport / Voter ID / Aadhaar card / Driving licence
• PAN card
• Last 3 years IT Returns
• Business Registration proof – MSME / GST / SSI / TIN
• Last 1 year Bank Statement in PDF form
Features and Benefits of Business Loan from Quikrupee
• Flexible loan tenures from 1 year to 3 years for business
• Small business loans without any collateral upto 30 lakhs in just 3 days
• Apply and tracking business loan status through the online portal
• Avail loans at flexible interest rates for secured and unsecured
• Easy and door step assistance to collect documents.
• Checking the business health through our online credit score
Businesses in Chennai from manufacturers to small and retail business shops can avail unsecured business loan without any collateral. Improvement in technology makes various banks and NBFC’s now integrate their processes online, where it becomes easy to apply and track the loan status of the individual. Business loans help entrepreneurs in many ways to move to the next level of growth through timely finance. Thus businessmen can make use of this opportunity effectively to grow and develop their business.