Mahindra Finance is dedicated to providing its customers with convenient financial solutions. They look at your financials as well as your strengths in order to provide solutions for your business needs. You can get a business loan up to Rs.40 crore for tenure up to 36 months.
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Features and benefits
- Mahindra Finance is the largest NBFC in rural India, with over 7.3 million customers spread across 7000 towns and over 3,80,000 villages.
- PAN-India existence with 1380+ offices and assets worth approximately Rs. 51,782 Crore.
- Mahindra Finance has the good credit rating i.e, Long Term Debt: AA + by CRISIL, Fixed Deposits: FAAA by CRISIL
- Documentation has been simplified.
- A wide range of acceptable collateral is available.
- Easy and Quick processing
- Provides both secured and unsecured loans
- Facilitates loans for industrial project financing, Equipment financing, Lease rental discounting and more.
- Company will decide the interest rate according to your loan amount and credit history.
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Mahindra Finance SME Business loans Types
|SL.No||Loan Type||Loan Amount||Repayment Tenure||Security||Loan Processing Time|
|1||Industrial Project Financing||up to Rs. 40 crore||Up to 6 years||1.5 times assets covered||20 working days|
|2||Equipment Financing||up to Rs. 40 crore||6 months to 5 years||1.5 times assets covered||10 working days|
|3||Corporate Loans||up to Rs. 25 crore||1-5years||1.5 times assets covered||10 working days|
|4||Secured Business Loans||Based on Property Valuation||up to 7 years||1.5 times assets covered||3-4 working days|
|5||Lease Rental Loans||up to Rs. 25 crore||up to 6 years||Mortage of Property under lease||NA|
Securities accepted by Mahindra Finance
- Deposit Certificates
- Fixed Deposits
- Land & Real Estate Property
- Life Insurance Policies
- National Savings Certificate
- Plant & Machinery
- Kisan Vikas Patra (KVP)
- Securities Issued by CG and SG
Requirements to apply for Mahindra finance SME Loan
- You must have a business plan : While applying for the loan you have to submit a detailed information of your business and why are yoy taking loan.
- You should have a good credit score : Your credit score should be more than 650 and should have updated credit report. Lender will se and review your credit report before providing you the loan.
- Your business must state your financial goals for nect 5 years.
- Business owners KYC documents
- Audited Balance sheet and Profit and loss accounts of past 3 financial years.
- Collateral security
Call – 1800-233-1234 (Mon-sat 8 am to 8 pm)
Email – email@example.com
Official Website – Mahindra Finance
1] What are the interest charges of Mahindra Finance business loans?
Interest charges of Mahindra Finance business loans are not fixed, they charge interest according to your loan amount and your credit history.
2] What is the loan amount under the GECL scheme?
The loan amount you can get under the GECL scheme is up to Rs. 5 crores.
3] Is there any foreclosure charges?
Yes, a Foreclosure charge of 2% on the loan amount is applicable.
4] What is the processing time?
The processing time of an unsecured loan is 48 hours.
5] Will Mahindra finance accept plant and machinery as collateral?
Yes, Mahindra Finance will accept the plant and machinery as collateral.