Magma Fincorp Business Loan

Interest Rate starts from 17.50%
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Business Loan From Magma Fincorp

Boost your Business with Quick and Hassle free Business Loans from ApnaLoanBazaar provided from various banks across India.
Interest Rate starts from
17.50 * %
Processing Fee
Up To 2.0%
Loan Tenure
Upto 3 Years
Guarantor Requirement
No
Part-Payment
Not Allowed
Pre-Closure Charges
3%

About Magma Fincorp

Magma Fincorp Limited (MFL) is a Kolkata based non-banking financial company registered with the Reserve Bank of India as an Asset Finance Company. The company operates 235+ branches across 21 states and a union territory and has a strong presence in rural and semi-rural India. Magma Fincorp Limited (formally known as Magma Leasing Limited) was incorporated in 1988 and commenced operation in 1989.

Indusind Bank has 800 branches, and 1500 ATMs as of April 2016

Highlights

Won a Gold Award at LACP (League of American Communications Professionals), 2015
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Why Business Loan from ApnaLoanBazaar?
  • Exclusive and Leading retail financial services website in India
  • Avail Unsecured Business Loan for your entity, firm and company
  • Compare and analyze the best loansuitable for your needs
  • Multipurpose loan eligibility in an easy to understand manner
  • No Security or Collateral Free Loans
  • Flexible loan tenure from 2 years to 5 years
  • Starts from ₹1,00,000
  • Max Loan upto ₹1,00,00,000
  • Fixed Rate of Interest
  • Repayable in Easy instalments
  • Choose loan offers from various lenders at one place in India
  • EMI Calculators and amortization tables to understand your loan repayment amount
  • Quick and Easy Process
  • Online application with less paper work
  • Expert advise on Loan documentation
  • Age Limits – 24-60 years

Required Documentation For Proprietorship Firm

  • Filled Application form
  • Identity Proof (PAN CARD)
  • Address Proof
  • Last 2 years of Income Tax Documents
  • VAT/CST/ST Registration copies (if any)
  • 1 Passport Size colour Photographs
  • 6 months Bank Statements
  • Latest year business performance related documents.
  • Other loansanction letters and their Track (If existed)

Required Documentation For Partnership Firm

  • Filled Application Form
  • Partnership deed
  • Firm PAN Card & Address Proof
  • All Partners Identity Proof
  • All Partners Address Proof
  • Last 2 years of Income Tax Documents
  • Last 6 months of Bank Statements
  • VAT/CST/ST Registration copies (if any)
  • 1 Passport Size colour Photograph for applicant
  • 6 months Bank Statements
  • Latest year business performance related documents

For Private Limited And Limited Companies

  • Filled Application Form
  • MOA/AOA and Incorporation certificate
  • Commencement of operation (if it is a Public Ltd Company)
  • Company PAN Card & Address Proof
  • All Directors Identity Proof
  • Last 2 years of Income Tax Documents
  • Last 6 months of Bank Statements
  • VAT/CST/ST Registration copies (if any)
  • 1 Passport Size colour Photograph for applicant
  • 6 months Bank Statements
  • Latest year business performance related documents
  • Other loansanction letters and their Track (If existed)

Identity Proof Of Partners/Directors For Business Loan

  • Passport
  • Driving License
  • PAN card
  • Photo credit card (with embossed Signature and last two months statement)
  • Banker's sign verification

Age Proof Of Partners/Directors For Business Loan

  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)

Income Proof Of Partners/Directors For Business Loan

  • Latest year IT Returns with Tax Audit reports(For Self Employed applicants)

Banking History For Business Loan

  • Bank statements of latest 2 months
  • 3 months bank passbook

Business Loan Can Be Used For Many Purposes Like Below

Accelerate the Business Growth

For immediate Business Requirement

For Boosting Revenue

For Training the Manpower

Foreign Business Trips

New Business Contracts

Setting up a new branch

To Purchase Stock

Why Business Loans?
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