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Where can I get loan?

I like to know where can I get loan at low rate of interest with less collateral.?

  • Please give me details. I need money to start my own business.

  • Answer:

    Contact the banks where you have existing relationships -- they will be more likely to extend a business credit to you Here's the reality: to borrow money, you need to have money What banks want to see are: - demonstrated ability of the business to generate revenues -- businesses that are already operating and have at least 2 years' worth of financial statements that demonstrate strong profitability. Business ideas are just ideas; not proven to generate profits - ability to repay the loan through collaterals and assets - solid management team: they want to know that the business will be run by someone who knows what they are doing - excellent credit history - your investment in the business: they want to see that you believe in your business enough to put down your own money into the business If you have the above, then prepare a business plan. No powerpoints please, they won't give you the time for a demo. You need a good executive summary (as that is what they're most likely read, if at all) PLUS solid, realistic financial projections/plans

Raghavendran. Traditional Indian... at Yahoo! Answers Visit the source

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Your question could have been answered better had you informed the approximate loan amount and the nature of business which you want to start.Now all that I can say is that approach a nationalised bank or a bank from state Bank Group for a loan under MSE (Micro and Small Enterprises) . You will get a loan with minimum interest with less (or even zero) collateral.Ascertain from the bank what is MSE and modify your business to conform to the norms of MSE. If you donot need more than Rs. 1 crore , then most banks will give the loan with zero collateral under CGTMSE scheme. Ask the bank for details.

serviceuser

Hey frnd.. if u want to get loan at low interest u should only prefer government affiliated banks ... for example: State banks, Indian bank, Indian overseas bank, Central bank of india,etc.. in these government banks u can get loan with low interest.. if u provide a collateral with less valuation, then u will get a less amount of loan probably..i dint mean to discourage u with this.. i just wanted to tel u the fact.. because no bank wil giv away money to u without proper sureity.. and also if u want some low amount upto 3 lakhs u dont need to provide collateral.. but the limits r different with each banks which u hav to check out with the bank u choose... CAUTION: when u r choosing for some local private banks like ICICI or HDFC make sure that u r strong enough to pay heavy interests even though u get a huge loan amount.. my kind request is to choose some government banks.. All the best for ur Successful future and gud luck 2 ur bright future frnd..:)

picky kool

u will get loan on business proposal very less from public sector banks , but u need to follow so many formalities, if u can u will get very less interest like 5 - 8 % PA but, if u wish to take from some private banks u needs to spend interest from 14 - 21 %. check with banks and try. Good Luck !!!

SatyaN

Banks like State banks, Indian bank, Indian overseas bank, Central bank of india,etc.. But it depends on the documents you have and your repaying capacity. Don't forget to make a Complete Business plan to present to the manager.

smart67 s

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