Manappuram Business Loan

Overview

Manappuram Finance limited is a Non Banking Financial Company (NBFC) that has its roots in the state of Kerala. Manappuram Finance Limited offers many loan options for customers to choose from like Gold Loans, SME Loans, Vehicle Loans, Home Loan, Insurance and Micro Financing options. Customers can get easy financing options by providing collateral in the form of gold or property as the case may be.

Business loans are loans that are provided to micro, small and medium enterprises, the MSME sector of the country. Manappuram business loans are provided to eligible businesses owners and enterprises upon application. Check out the complete details of the business loans from Manappuram here.

Eligiblity for Manappuram Business Loans

Manappuram offers easy and affordable business loans to eligible businesses and enterprises. The eligible applicants are any of the following persons or entities

• Self-Employed Professionals
• Non Professionals
• Individuals
• Proprietorship
• Partnership Firms
• Companies

The applicants can provide collateral in the form of following properties to gain the business loans.

• Self Occupied Commercial properties
• Self Occupied Residential properties
• Land which extends more than 3 cents in Corporation Areas
• Land which extends more than 5 cents in Municipal Areas
• Land which extends more than 10 cents in Rural Areas
• Vacant Land and Plot with Approach Roads

The other eligibility requirements for the business loans are the following

• Established business venture of the applicant
• Existing scope of measurable finance i.e. which can be easily evaluated

Documents for Manappuram Business Loans

The documents required to be provided for the business loans or the SME loans of Manappuram are a combination of the KYC documents and financial documents relating to the business. The list of documents to be presented for Manappuram Business Loans is mentioned below.

KYC documents

• Identity Proof (PAN Card, Aadhaar Card, Passport, etc.)
• Address Proof (Aadhaar Card, Passport, Registered Rent Agreement, Latest Utility Bills, etc.)

Financial Documents

The financial documents include the following documents to be submitted along with the application form.

• Latest audited ITR
• Financial Statements for the past 2 years (Balance Sheet, Profit and Loss Account, Computation of Income and all the relevant schedules)
• Bank Statements for the past 6 months for the main account of the borrower and past 3 months for the ancillary accounts of the borrower
• Professional Certificates (in case of professionals)
• Partnership Deed
• Memorandum of Association
• Articles of Association
• Certificate of Incorporation
• Latest Shareholding pattern of Private or Public Limited Company

Features and Benefits of Manappuram Business Loans

The business loans of Manappuram Finance Limited are among the top rated finance options for small businesses and entrepreneurs available in the market. These loans have many features and benefits that make it an attractive option for the customers. These features and benefits are discussed hereunder.

Quantum of Loan

The quantum of loans that can be available under the business loans of Manappuram Finance can be for the amount ranging from a minimum of Rs. 5,00,000 to a maximum of Rs. 2,00,00,000. The amount of loan sought can be based on their requirement and the amount that can be disbursed finally will depend on the credit profile and repayment capacity of the applicant.

Tenure

Manappuram Finance provides flexible repayment options for the loan taken. Customers can pay the loan within the tenure ranging from 24 months or 2 years to a maximum of 60 months or 5 years.

Interest Rate

The rate of interest charged on the business loans of Manappuram Finance is very affordable as per market standards. Manappuram Finance offers customized rates of interest on the business loans. These interest rates will depend on the business profile, loan amount, tenure of the loan and the repayment capacity of the business or the entrepreneur as the case may be.

Quick Disbursal

Manappuram Finance provides quick financial assistance to the business enterprises or the business owners. After the application is submitted, the representatives of Manappuram Finance will evaluate the application for its eligibility and viability along with the authenticity of the documents provided. If the application and the documents are successfully verified, the loans will be disbursed to the applicant. This entire process of loan disbursal takes approximately 10 days from the date of application.

Collateral

Manappuram Finance requires the customers to provide collateral for the business loans. These collaterals can be either of the following properties.

• Self Occupied Commercial properties
• Self Occupied Residential properties
• Land which extends more than 3 cents in Corporation Areas
• Land which extends more than 5 cents in Municipal Areas
• Land which extends more than 10 cents in Rural Areas
• Vacant Land and Plot with Approach Roads

Digital Process

The entire loan process of Manappuram is digital i.e. all the stages of its business loans are executed digitally. The digitization of the entire process enables the customers to get faster and hassle free loans from Manappuram Finance.

How to apply for Manappuram business loans?

The application process of Manappuram Business Loans can be executed online. The steps for the same are mentioned below.

• The first step for application of business loans is visiting the website of the company.
• The customers can apply for the Manappuram Business Loans by clicking on the following link available for the same.

manappuram[dot]com sme-finance[dot]html Request A Call Back 

• After clicking on the same, the customer will be directed to a page wherein they will be required to submit their personal details like name, address, mobile number, email, location and mode of language.
• Before submitting the details, the applicant will also have to submit the captcha code displayed on the screen.
• This will give the company and its representatives the authority to contact the applicant via telephone, email or SMS to explain the terms of the loan and guidance for further process of the same.

After the application is accepted it will be processed further and the applicant will be granted the loan upon sanction of the same. The loan will be disbursed within 10 days of application upon successful verification of the application and the documents submitted along with it.

The customers can also locate the branches of Manappuram Finance Limited in the following states

• Kerala
• Tamil Nadu
• Karnataka
• Maharashtra
• Orissa
• Rajasthan

Manappuram Finance Limited is in the process of opening more branches in the following locations

• West Bengal
• Uttar Pradesh
• Delhi
• Telangana