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Magma Fincorp provides  Express Business Loans i.e Unsecured Business Loans or Collateral free SME Loans upto Rs 10 Lakhs for Micro SME Enterprises. SME Enterprises can utilize this loan amount for Working capital requirement, business expansion, purchase of machinery etc.

Features of Express Business Loans:

  • Loans without any primary or collateral security requirements
  • Loan – Rs. 3 lakhs to 10 lakhs
  • Flexible Loan Tenure starting from 12 to 36 months

Who are eligible for Express Business Loans?

Self-employed professionals and non-professionals engaged in Manufacturing or Trading.

Manufacturers:

All major sectors including engineering, automobiles, chemicals, pharmaceuticals, dairy, packaging, food, agricultural products, fertilizers, jewellery etc.

Traders:

All types of retailers, wholesalers, stockists, super-stockists and distributors

EXPRESS BUSINESS LOAN ELIGIBILITY CRITERIA

  • At least three years of operations for the business
  • Clear banking and loan payment history
  • Positive business net worth
  • Demonstrated growth in turnover
  • Good credit rating in CIBIL

EXPRESS BUSINESS LOAN DOCUMENTATION

  • KYC documents
  • Company Financials
  • 6 months Banking
  • Property Ownership proof
  • Loan Obligation statement