Business Loan in Erode

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How does Business Loan Work?

Business Loan Benefits

Collateral-free

Collateral-free

Unsecured business loans do not require land, property, bank guarantee or any other business collateral

Low cost credit

Low cost credit

The interest rate charged on a business loan is relatively lower than that of loan

100% digitized process

100% digitized process

The online business loan process is fast and hassle-free

Flexible repayment options

Flexible repayment options

A business loan can be repaid with flexible EMI options

Instant disbursement

Instant disbursement

Get loan disbursement within 24-48 hours of the amount being sanctioned

Eligibility & Required Documents

Apply with minimal documentation

Eligibility

Minimum turnover
Minimum turnover ₹3 crores
Business vintage
Business vintage 3+ years

Required Documents

details
KYC details
Last
Last 6 months of banking
Financials for previous
Financials for previous 2 fiscal years
for current fiscal year
GSTR details for current fiscal year

Our Terms

Interest Rates
Starts from 12% per annum
Processing Fees
Starts from 1% per annum
Penal Interest
Starts from 2% per month + Applicable Tax
EMI & Check Bounce Charges
500 + Applicable Tax
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Enhanced Security Features

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Hassle-free Loan Applications

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Simplified Documentation Process

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Get Disbursals on the Fly

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Ledger on Your Fingertips

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Enhanced Security Features

How to Apply for Credit

Step-by-step online process to apply
for Financing

1

Check Eligibility

Check your loan eligibility

2

Submit Application

Complete a 100% online application form

3

Get Sanctioned

We will evaluate your application and propose a fair sanction

4

Receive Funds

Get disbursements within 2 days of sanction

Why Oxyzo?

Oxyzo provides new-age customized financing
products for your business needs

No collateral required

No collateral required

Minimum Paperwork

Minimum Paperwork

Attractive interest rate

Attractive interest rate

Flexible repayment tenure

Flexible repayment tenure

Approval within 48 hours

Approval within 48 hours

Nominal processing-fee

Nominal processing-fee

Easy EMI options

Easy EMI options

Get Working capital with Business Loan

Oxyzo Business Loan is a convenient and quick solution for those looking to grow their business in Erode, Tamil Nadu. With the help of Oxyzo, businesses in Erode can get access to low-cost credit, flexible repayment options, and instant disbursement of funds to support their business growth.

About Erode
Located in the heart of Tamil Nadu, Erode is a growing commercial and industrial center known for its textile and agriculture industries. With a strong and diverse economic base, Erode has become a hub for businesses of all sizes, from small start-ups to large corporations.

Benefits of Oxyzo Business Loan in Erode
One of the biggest advantages of Oxyzo Business Loan is that it is collateral-free, which means businesses do not need to pledge any assets to secure the loan. This makes it a popular choice for small and medium-sized enterprises who may not have significant assets to use as collateral.

In addition, Oxyzo offers low-cost credit, which can help businesses save money on interest payments and other fees. The 100% digitized process allows for a quick and hassle-free application process, with no need for lengthy paperwork and physical documents.

The repayment options for Oxyzo Business Loan are also flexible, which means businesses can choose a repayment schedule that works best for their financial situation. This can help to ease the burden of loan repayment and ensure that businesses are able to continue to grow and thrive.

Finally, Oxyzo offers instant disbursement of funds, which means that businesses can access the money they need to grow and expand quickly and efficiently. This can be a critical factor in the success of a business, as it allows for timely investments in equipment, inventory, and other essential resources.

In conclusion, Oxyzo Business Loan is a great choice for businesses in Erode who are looking for a quick and hassle-free way to access low-cost credit, with flexible repayment options and instant disbursement of funds. With these benefits, businesses in Erode can take their business to the next level and achieve long-term success.

Frequently Asked Questions

What is a business loan and for what purpose is it used ?
A business loan is a form of term loan that is specifically used by SMEs for business expansion purposes and to help them grow and scale their business. Monthly payments are fixed over the tenure with a lending agreement.A lending agreement is signed between a lender and a business. The lender provides money to the business. The business repays in an agreed-upon duration of time with an agreed amount of interest. We offer it as a term loan as it can be paid back quickly in EMIs convenient to the SME owners.
Does Oxyzo provide business loan without security only ?
No, Oxyzo offers both unsecured business loans and secured loans for setting up new factories, renovating existing plants and other business expansion activities.
How is the eligibility calculated for a business loan ?
Business loan eligibility depends on the business vintage and turnover. SMEs must have a minimum turnover of 3 crores and a business vintage of atleast 3 years to apply for business loan online.
What are the business loan documents required ?
SMEs are required to apply online for a business loan with the following documents:
  • KYC documents
  • Last 6 months of banking
  • GSTR details for the current financial year
  • Financial statements for the previous 3 financial years.
What is the maximum business loan offered by Oxyzo ?
The business loan limit in Oxyzo depends on the eligibility, your requirement and our comfort. If you meet our basic guidelines and our team has comfort in terms of credit assessment, we offer a decent sanction.

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