Electronica Finance Business Loan

Electronica Finance is a part of the SRP Electronica Group that specialises in providing business loans and machine finance to its customers. Electronica Finance Limited (EFL) has partnered with SIDBI to provide machine loans at competitive interest rates across the nation. Besides machinery loans, EFL also provides corporate lending products that include working capital loans , bill discounting and loans for the purchase of industrial properties.

Business loans offered by Electronica Finance can be availed by self-employed professionals , private and public limited companies, partnership firms and sole proprietorships. Below mentioned are the types of business loans offered by EFL.

Business loans offered by Electronica Finance can be used for expansion purposes, to purchase machinery or equipment, to pay rent and salaries, to buy raw materials/stock etc. If an applicant’s financial profile and credit score is good, then this loan becomes unsecured and further there is no need to submit any collateral to avail it.

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges.

This loan is primarily used to meet the day-to-day needs of the business expenditure or working capital requirements. It helps in maintaining the cash flow and supports to overcome the cash crunch situations during anytime of business tenure.

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges.

Machine loan can be availed to purchase various machines, such as embroidery machine, Computer Numerical Control (CNC) and Vertical Machining Centres (VMC) machines, blow moulding, printing and wood cutting machines, injection moulding, etc.

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges.

Also Read: What is Machinery Loan and its top Providers

By putting his/her property as a collateral, an applicant can avail loan against property to acquire business assets, for business expansion purposes and to meet working capital requirements.

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges.

*All the above mentioned conditions for all loans will increase the chances of getting a business loan but are not mandatory.

Institutional Lending

Under institutional lending, lines of credit and loans are offered to NBFCs and MFIs for various business related purposes.

Features:

Emerging Enterprise Loan / Loans for Micro Enterprises

Emerging Enterprise loans are offered to small business owners or entrepreneurs for business expansion purposes, stock purchase, to buy commercial property or to meet working capital requirements. Businesses with good cash flow and decent financial and loan repayment history can avail this loan. Loans for micro enterprises are generally property backed loans that means commercial or residential property shall be kept as collateral by the lender during loan tenure.

Features:

*All the above mentioned conditions for both the additional loans will increase the chances of getting a business loan but are not mandatory.