Udyam Loans
What is Udyam Loans Loan?
Do you need instant funds to meet your working capital requirements? Are you stuck in a situation,
where you need a small loan to fund any business need?
Timely access to capital is crucial to run a successful business and grow it to its full potential. However, the lack of mortgageable securities often acts as the biggest impediment to credit access. Understanding this need, Srajan Capital brings you Udhyam Loans which is your one-stop solution to fulfill small financial needs upto Rs. 15 Lacs.
Udhyam Loans are extended for small amounts with short tenure which are unsecured in nature.
Udhyam Loans can be availed for business expansion, working capital, capital expenditure and can have a tenure up to 5 years. The primary objective of offering Udhyam Loans is to propel the social and economic development of society.
Features of Udyam Loans
- Easy Processing
- Minimum Paper Formalities
- Attractive Interest rate
- Faster Loan Approval
- Collateral-free loan
Specifications of Udyam Loans
- Age - The borrower must be at least 25 years old and not more than 65 years old, at the start of loan.
- Short Tenure - Up to 7 years
- Loan Amount - minimum 1 Lakh to maximum 15 lakh
- Income - The borrower must have a regular source of income from their business, with a minimum annual income as specified by the lender.
- Business Vintage: minimum of 2 years in business.
Documents Required
Identity Proof
Your PAN Card is mandatory, and any one of these:
- Passport
- Voter ID
- Aadhar Card
- Driving License
Address Proof
- Passport
- Voter ID
- Aadhar Card
- Electricity bill/ water bill/ telephone bill
- Driving License
Proof of Income
- IT Returns and/or Financial Statements of last 3 years And/or
- Informal Income Documents
Other Documents
- Signed Application Form With Picture
- Cheque For Processing Fee
- Proof of business existence
Property Documents
- Title Deeds of the Property
- Proof of No Encumbrances on the property
Frequently asked questions (FAQ’s)
An Unsecured Business Loan, also known as Udyam Loan, is a type of financing provided without requiring any collateral. This loan is designed to meet the working capital needs and expansion plans of SME/MSMEs.
The benefits of availing an Udyam Loan include quick and easy access to funds without the need to pledge assets, flexible repayment options, minimal documentation, and faster processing times.
Loan amount is subject to our credit assessment and internal rating. We cap our Udhyam Loans loan amounts at 15 lakhs.
Tenure options are subjected to the credit worthiness of an individual. Usually our loans have options ranging from 3 years - 7 years.
The approval process for an Udyam Loan is typically quick, taking anywhere from 3 to 7 business days, provided all required documents are submitted and the applicant meets the eligibility criteria.
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