X
We are all in the midst of an unprecedented crisis in the wake of the outbreak of COVID 19 Novel virus cases that are being detected across states. We are trying our best to keep our call centers open to serve you . However we are experiencing a surge in call volumes. We request your patience if you are trying to reach us.
We know it must be frustrating for you not to get an immediate response or to be on hold for a long period. Our sincere apologies for keeping you waiting.
Please be assured that we are trying our best to continue serving you.
We wish you, your family and friends a safe and healthy environment.
Customers should not respond to any messages or call asking for the OTP to avail the benefit of EMI Moratorium.
Thanking you and assuring our best services always.
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