Mangalam Industrial Finance Limited offers unsecured Business Loans for Proprietorship at competitive interest rates to assist sole proprietors in expanding their businesses. Furthermore, our Proprietorship Business Loans are collateral-free and include numerous features and benefits, such as variable repayment terms, little documentation, and speedy disbursement. Apply today!
| Types of fee | Applicable Charges |
| Rate of interest | 15% to 28% p.a.* |
| Processing fees | Up to 3% plus applicable taxes |
| Repayment Instrument Dishonor Charges | ₹1,000 per bounce plus applicable taxes |
| Default Interest | 3% per month |
| Loan Amount | ₹1 Lakh to ₹50 Lakh |
| Lowest EMI per month | Starting from ₹2,783* per Lakh for 48 months |
| Loan Tenure | 6 - 48 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources & 4% If paid from other sources |
| Stamp Duty | At actuals (as per state) |
| Penal Interest | 3% monthly on the defaulted EMI amount |
Conditions of eligibility are designed to help various businesses achieve their specific financial demands. The prerequisites are specified as follows:
Age:- To be eligible for this loan, you need to be between 24 to 65 years of age while applying.
Business Tenure: -Your business must be operational for at least two years.
Annual Turnover:- Your business must generate a minimum of ₹6 Lakh annually.
Please note additional documents may be needed depending on your application.
We help you get the required loan with the minimal documentation listed below.
We provide an Unsecured Business Loan with a competitive annual interest rate starting at just 15%.
We offer an easy documentation process that allows you to receive your funds without any challenges.
We offer a fully digitalised online application procedure so that you can apply for a loan from the comfort of your home or workplace with just a few clicks.
Click on Apply Now and fill out your contact information.
Enter your date of birth, qualification, and residential address.
Submit and upload all the information for verification.
After your documents are verified, the loan amount will be disbursed instantly.
Mangalam Industrial Finance Limited offers business loans for proprietorships with simple qualifying requirements and minimum documentation. Proprietorship Loans are available to business owners with at least two years of experience and an annual turnover of above ₹6 lakh.
Mangalam Industrial Finance Limited offers Loan approval faster. Depending on the verification process, you may receive the loan amount in your bank account within just a few days.
Mangalam Industrial Finance Limited is a Non-banking Financial Institution providing hassle-free loans. with easy and quick loan facilities. We aid our customers with financial solutions primarily for the purchase of Electric Two-Wheelers.
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