Reliance SME Loans

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About Reliance SME Loans

Reliance SME Loans

Giving a new shape to your small running business is not so easy in the absence of requisite amount of finance. SME loan is the best solution that is offered by Reliance Commercial Finance at affordable rates of interest. It is a loan that caters to the business needs of an individual. It helps one to carry different operations like business expansion, buying machinery and tools.

Reliance SME Loan Fees and Charges:

Description of Charges Charges
Loan Processing Charges Up To 2 % of the loan amount
Non Refundable Processing Fees Rs 1500
Cheque Bounce Charges Rs 450
Prepayment Charges 3 % per month
Loan Cancellation Charges Rs 2000
Cheque Swapping Charges Rs 500 per swap

Features of Reliance SME Loans

  1. This offer is focusing on more than 15 different promising industries.
  2. Convenient and flexible EMI’s.
  3. High loan eligibility.
  4. Flexible loan tenure periods.
  5. Easy repayment option with simple EMI’s.

Eligibility for Reliance SME Loans

Self Employed People are eligible for availing Business Finance. Here is the eligibility criteria for these indivduals:

  1. Minimum Loan amount available: Rs. 50,000
  2. Maximum loan amount available: Rs. 2,00,00,000
  3. Minimum Income (annual):Rs. 1, 50,000
  4. Minimum Age: 24 Years & Maximum Age at loan maturity: 65 Years
  5. Minimum Turnover in Business: Rs 40 Lacs per annum
  6. Minimum Experience in Business: Minimum 3 years experience in the current business and total 5 years business experience. Business must be continuously making a profit from last 2 years.
  7. Business should be filling 2.5 lacs to 3.5 Lacs ITR per annum.

Documentation for Reliance SME Loans

  1. Identity Proof (Passport Copy/ Voters ID Card/ Driving License)
  2. Proof of Address (Ration Card/ Telephone Bill/ /Electricity Bill/ Passport)
  3. Bank Statements (latest 6 months bank statement /passbook)
  4. Latest ITR, along with computation of income
  5. Balance Sheet & P&L Account for the last 2 Yrs, certified by a CA
  6. Qualification Proof of the Highest Professional Degree
  7. Proof of Continuation (Trade License /Establishment /Sales Tax Certificate)
  8. Other Mandatory Documents (Sole Proprietorship – Declaration, Partnership – Copy of Partnership Deed, Apart from Copy of MOA, AOA & Board Resolution)
  9. Two passport size photographs

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