Overview of Business Loan in Sonipat
Business loans in Sonipat support SMEs and entrepreneurs for expansion, working capital, or equipment purchase in a growing industrial hub.
Eligibility Criteria
| Criteria | Details |
|---|---|
| Applicant Type | Sole proprietors, partnerships, or companies |
| Age | 21–60 years |
| Business Vintage | Minimum 2 years |
| Annual Turnover | ₹10 lakh minimum |
| Credit Score | 650+ |
| Collateral | Not required for unsecured loans |
Documents Required
- Identity Proof: Aadhaar, PAN Card
- Address Proof: Utility bill, Aadhaar
- Business Proof: GST registration, shop license
- Financials: ITR (2 years), profit & loss statement
- Bank Statements: Last 12 months
Benefits of Business Loan in Sonipat
- Loans up to ₹50 lakh for business growth
- Competitive rates starting at 10% p.a.
- Flexible tenures up to 5 years
- Quick disbursal within 7–15 days
- Unsecured options available
Compare Business Loan Lenders in Sonipat
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| HDFC Bank | 10% p.a. | Up to ₹50 lakh | 5 years | 0.99% |
| ICICI Bank | 10.5% p.a. | Up to ₹40 lakh | 4 years | 1% |
| Bajaj Finance | 11% p.a. | Up to ₹35 lakh | 3 years | 1.5% |
Frequently Asked Questions
What can I use a business loan in Sonipat for?
Expansion, working capital, equipment purchase, or inventory management.
Do I need collateral for a business loan?
Unsecured loans don’t require collateral; secured loans may need property or assets.
How long does it take to get a business loan approved?
Typically 7–15 days, depending on documentation and lender.
What is the minimum turnover required?
Most lenders require ₹10 lakh annual turnover.
Can startups apply for business loans in Sonipat?
Yes, with a strong business plan and credit score, though terms may vary.
What happens if I miss an EMI?
Late fees apply, and repeated defaults may impact your credit score.
Promotional Offers
- Interest rates starting at 10% p.a. for business loans in Sonipat
- Waived processing fees for applications before 31st May
- Free business loan eligibility check via Loanpao