Janalakshmi Financial Services LTd Business Loan

Overview

Janalakshmi Financial Services is an NBFC offering unsecured and secured business loans to SMEs and MSMEs in India. It was incorporated in 1999, in Bengaluru, and makes lending to SMEs convenient and easy, focusing on the small business lending landcape in India. The Group aims to make working capital available to entrepreneurs, making it easy for them to focus on business.

Janalakshmi Financial Services Business Loan

Is your business facing setbacks due to a restricted cash flow? Or do you need an infusion of funds to invest for buying space, equipment, inventory or simply expanding the business? Almost all business owners face this issue at some time or another. A Business Loan from Janalakshmi Financial Services might put you on track. Read on to know more about Janalakshmi Financial Services Business Loan offers.

Janalakshmi Financial Services Business Loan Features

Janalakshmi Financial Services provides a host of business loan options. Following are its offerings in the business and MSME sector:

Nano Loans:

This is an individual business loan offering that allows budding entrepreneurs to realize their dreams by financing their working capital and investment in equipment. Such customers should have a proven credit history which should span at least 2 years.

Features:

• Funding available from Rs. 60,000 to Rs. 2,00,000
• Tenure up to 36 months
• Interest Rate up to 26% p.a.

Loans for Enterprises: Enterprise Financial Services (EFS) Initiative

Janalakshmi Financial Services also funds enterprises that are too big for microfinance yet not big enough to conveniently access bank funds. There are four unique offerings. Following is an overview:

Super Nano Loan

This product is designed to support the credit requirements of micro or small enterprises belonging to existing Nano loan customers. The Super Nano loan is also offered to customers in the open market, who have a favourable credit history.

Features:

• Funding available from Rs. 2,00,000 to Rs. 6,00,000
• Tenure up to 60 months
• Interest Rate minimum 23% p.a. to a maximum of 24% p.a.

Micro, Small and Medium Enterprise (MSME) Loan

The loan is aimed for MSMEs in the unorganized sector who are seeking working capital and term loans.

Features:

• Funding available from Rs. 2,00,000 to Rs. 50,00,000
• Tenure from 12 to 48 months
• Part payment facility and top-up loans available
• Interest Rate minimum 18% p.a. to a maximum of 26% p.a.

Long-Term Business Loans

This product addresses the liquidity needs of micro, small and medium entrepreneurs, who can offer collateral in the form of real estate. Those whose capital is locked in real estate but is not considered an attractive financing option by traditional lenders can opt for this loan. This product financing against self-owned and occupied property while keeping EMIs moderate and affordable.

Features:

• Funding available from Rs. 5,00,000 to Rs. 50,00,000
• Tenure up to 60 months
• Interest Rate minimum 18% p.a. to a maximum of 26% p.a.

Equipment and Machinery Financing

A quick loan facility for micro, small and medium enterprises to purchase new or used machines and upgrade technology

Features:

• Funding available from Rs. 2,00,000 to Rs. 50,00,000
• Tenure up to 60 months
• Interest Rate minimum 18% p.a. to a maximum of 26% p.a.

Janalakshmi Financial Services Business Loan Eligibility

One looking for funds should own a business for business expenses, and must be ideally between 21 years and 65 years old.

Janalakshmi Financial Services Business Loan Interest Rate

Janalakshmi Financial Services offers attractive interest rates on its business loans. It depends on a host of eligibility criteria which might include but is not limited to – the type of loan that you re opting for, your credit worthiness, borrowing history and other factors that reflect your financial capability and behavior. It is best to contact Janalakshmi directly for the most up to date interest rates.

Janalakshmi Financial Services Business Loan Documents

The documentation required is very simple and straightforward. Following are some of the documents which will be required:

• Application form with Passport Size Photographs
• PAN Card
• Identity Proof – Voter ID / Driving License / Passport (Any one can be submitted)
• Address Proof – Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement (Any one can be submitted)
• Six months bank statement and VAT returns
• Proof of ownership of business
• Processing fee cheque
• Any other documents as mandated by the NBFC

Janalakshmi Financial Services Business Loan FAQs

What is the minimum and maximum amount that I can get for my business?

It depends on the kind of loan you are opting for. Funding is available for up to Rs. 50 lakhs.

What are the available tenures of the loan?

Janalakshmi Financial Services offers flexible tenure options which can range from between 12 months to 60 months.

On what basis will my loan limit be determined?

Your loan amount will be decided as per your revenue financials.

Is there any processing fee included?

Yes, a nominal processing fee would be levied which would be communicated to you at the time of application of the loan.

Janalakshmi Financial Services Business Loan Review

The simplified processing formalities facilitates loan borrowings from Janalakshmi Financial Services with ease. It offers an array of finance products to suit every need and budget. The loan is disbursed as soon as you are found to be creditworthy. Janalakshmi simplifies quick completion of the formalities once the loan is approved. You can avail a business loan from Janalakshmi Financial Services and realize your dream of running a business successfully.

How to Get Business Loan from Janalakshmi Financial Services

You can get a business loan from Janalakshmi Financial Services in the following ways:

• Online, by filling the Online Application Form on their website. A Janalakshmi Financial Services representative will get in touch with you.
• In person, by visiting the branch directly and submitting the application and required documentation.

Need help? If you think you need help with your Janalakshmi Financial Services Business Loan Application and advice on loan eligibility, CreditMantri can guide you through the entire process and match you with the loan offer that best suits your profile.