Loans for Warehouse
A warehouse is typically a large building where raw materials or manufactured goods (for example clothes, automobile parts, etc.) are stored prior to their distribution or sale. A Warehouse loan is given to individuals, Public & private limited concerns, APMCs, dealers, traders, co-operative societies, and joint sector companies in public or private sector for construction and running of warehouse units designed to store agriculture produce and a range of other products.
Loan Amount
The loan amount typically it ranges from a minimum of Rs.1 lac and a maximum of Rs. 20 Crore, depending on the project cost. This varies from lender to lender.
Tenure
Loans for construction of warehouses are typically long-term loans that are offered for up to 9 years with a grace period of up to 2 years. Again, this depends on the lender.
Security
This is a secured loan which would need collateral in the form of hypothecation of assets. Some lenders ask for the mortgage of property, with or without third party guarantee of adequate worth. Your credit history will also decide the amount of security required. Having a good credit history helps with the easier processing of the loan.
Warehouse Loan Interest Rate
The interest rate is as decided by the lender from time to time and is influenced by a variety of factors. Some of the factors influencing the final pricing on your loan would be your net worth, credit history and score and relationship with the lender. Your credit history plays a major role in landing the lowest interest rates.
Apply for Warehouse Loan in India
If you are looking for a warehouse loan and are unsure about how to apply, then CreditMantri can guide you. You can typically apply for a business loan which can be utilized to build your warehouse.
You can check your eligibility and apply for a business loan by signing up with CreditMantri. It is quick, simple and above all, free.
CreditMantri matches your credit and demographic profile to the lender's lending criteria and presents you a shortlist of only those lenders willing to lend to you based on your unique credit profile. In effect, we pre-screen your application to make sure you are likely to qualify as per the lender's credit criteria. Hence, the chances of your business loan application getting approved are higher.
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