Odisha is the hub for Businesses and many young entrepreneurs are making their dreams alive by setting up their Businesses. If at any point in life you face financial crises for your Business it is good to opt for the business loan. A Business loan is a type of financial aid provided by Banks and NBFCs to people who are facing financial crises. This loan can either be secured i.e. a loan that requires security to be pledged in banks, or unsecured i.e. a loan that is given based on the creditworthiness of a person.
Business Loans in Odisha can be availed by Business owners who have passed the eligibility criteria. The interest rate for Business Loan starts from 14% for an unsecured business loan and 8.5% for a secured business loan.
Age: The age of the borrower should be between 21-60 years.
Citizenship: The borrower must be a citizen of India
Business Vintage: The business must be running for 3 years.
CIBIL Score: 700 or higher
Documents required for Business Loans in Odisha are mentioned below.
1. Adhaar Card
2. PAN Card
3. Photo
4. GST Registration
5. UDHYAM Registration
6. GST Returns
7. Financial details of the company
8. Bank statement for one year
9. Details of the running loans
Mentioned below is the process to apply for Business Loan in Odisha today.
1. Visit the website of My Mudra and search for the section on Business Loan.
2. Click on Apply Now for applying for Business Loan.
3. Get your documentation done online.
4. Get your business loan approved and disbursed in the shortest interval of time from My Mudra.
|
Banks and NBFC |
Interest Rate |
|
HDFC Bank |
14% |
|
Axis Bank |
14% |
|
Standard Chartered Bank |
14% |
|
IDFC Bank |
15% |
|
ICICI Bank |
15% |
