As its name implies, our raw material financing loan is designed to help small businessmen keep their raw material inventory in check. Opt for My Mudra’s Raw Material Financing Loan and keep your business in good shape.
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Successful business operations require a lot of capital. All businesses must pay a range of expenses on time in order to maintain business operations. Being able to quickly access funds can be crucial, especially when pursuing business prospects.
We at My Mudra Fincorp are aware of these requirements and provide this kind of business loan as an effective option for all business owners seeking to maintain their competitiveness. There are numerous cost-effective benefits for borrowers who take out a business loan.
Eligibility For My Mudra’s Raw Material Financing Loan
The following are the Business Loan eligibility criteria that need to be fulfilled for an individual to get the loan.
|
Criteria |
Requirement |
|
Age |
Individuals must be between 22 and 62 years of age. |
|
Work Experience |
People must have a business vintage of at least 3 years. |
|
Annual Business Turnover |
The applicant’s business must have a minimum annual turnover of ₹20 lakh. |
Documents Required To Avail My Mudra’s Raw Material Financing Loan
The following are the documents required for this business loan which need to be submitted by every individual looking for getting a loan from My Mudra Fincorp. As already mentioned above, these documents are very easy to arrange.
|
Documents |
Requirement |
|
KYC |
· Company PAN Card, Director/Proprietor/ Partner PAN Card, Aadhaar Card, Passport. · Proprietor/Partner/Director PAN Card, Aadhaar Card, Electricity Bill/Rent Agreement/Passport. |
|
Business Address Proof |
· Utility bills/ Rent Agreement. |
|
Financial Documents |
Bank account record for the past 6 months. |
*The aforementioned list of documents for a business loan is suggestive. Extra documents may be needed at the time of loan processing.
Follow these tips to improve your Raw Material Financing Loans Eligibility –
Maintain a good repayment history by paying off your existing loans and liabilities on time without defaulting
Try to build a CIBIL score above 750
Apply for a loan that fits your needs, raising multiple loan applications can decrease your credit worthiness
Opt for a longer repayment tenure that will allow you to disburse the overall due amount over a longer time span. This will also help in reducing the EMI amount.
A co-borrower (a spouse, or parent) with a good income and credit score will boost your eligibility for a bigger loan amount.
You are doing an awesome work as team. Faster service with immediate response is quite amazing. Will recommend to everyone in need, faster documents processing …….Keep up the good work
Amazing. Dedicated. Professional. I came through a reference from my Aunt. I was getting a personal loan for the first time. I was nervous. But they made me sail through the loan application process. Good work. Definitely recommend
Folks, they are very quick with their services. I actually didn't know there were so many conditions for getting a loan. My documents weren't proper as well. They really helped me pick up my profile. Also, they give you helpful suggestions regarding which banks should I opt for.
Excellent service from all team members. All are supportive. Its different from others NBFCs. Now and in future, My Mudra is my first choice for financial needs.
The service provided by My Mudra is great, everything is seamless and very convenient. Its one of the very best experiences, I’ve had with any loan provider.
I was in dire need of funds for a medical emergency. Due to my low CIBIL score, I didn’t much get support from other lenders. This is when I submitted a personal loan application on My Mudra. Fortunately, I got the amount, and that too at lower interest rates. Thanks to My Mudra. The entire application was very smooth.
I have had a wonderful experience with My Mudra. The process was exceptionally seamless when I applied for a loan. I also liked how their people interacted with me. It is the best solution to the month-end cash issue. Also, I can use it to pay off my credit card dues.
To realize my business plans, I decided to take My Mudra Business loan and my decision was perfectly alright. It assured me of fast money and the entire process was transparent. No surprise loan charges helped me plan my working capital and manage my business activities efficiently.
I was in need of INR 2 lakh. I visited the My Mudra website and found out that there is a personal loan offer for me. It was a great experience. I got an awesome deal on my loan application. The process involved only a few documents. The amount transferred to my account was faster than promised and the interest rate and other charges were also not too high
I wanted quick fund disbursal and one of my friends suggested me to apply for a personal loan from My Mudra. He had a great experience. I agree with him. The application and approval process were smooth. They offer fast money transfers to my bank. I was asked to choose the repayment period. I am happy with the services. Their agents are also polite and helpful.
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