Magma Fincorp Limited India - SME Loans
Magma Fincorp Limited offers a range of financial products for Small and Medium Enterprises (SMEs) in India. One of their key offerings is SME loans, which are designed to meet the financial needs of small and medium-sized businesses.
Features of Magma Fincorp SME Loans
- Loan Amount: SME loans are available for amounts ranging from Rs. 1 lakh to Rs. 50 lakhs
- Tenure: The repayment tenure for SME loans can range from 12 months to 36 months
- Flexible Repayment Options: Magma Fincorp offers flexible repayment options to suit the cash flow needs of the business
- Quick Approval: SME loans from Magma Fincorp are processed quickly, ensuring that businesses can access funds when needed
- Competitive Interest Rates: Magma Fincorp offers competitive interest rates on SME loans
- No Collateral Required: In some cases, SME loans may be available without the need for collateral
Eligibility Criteria for Magma Fincorp SME Loans
- Business Vintage: The business should have been in operation for a minimum period of 3 years
- Annual Turnover: The business should have a minimum annual turnover as specified by Magma Fincorp
- Credit Score: A good credit score is required to qualify for SME loans
- Documents: The business should provide all necessary documents as specified by Magma Fincorp
How to Apply for Magma Fincorp SME Loans
Businesses can apply for SME loans from Magma Fincorp by visiting their nearest branch or by applying online through their website. The application process is simple and requires businesses to provide relevant documents and information about their business.
Contact Magma Fincorp
For more information about SME loans from Magma Fincorp, you can contact them at:
Phone: 1800 3002 3202
Email: customercare@magma.co.in
Frequently Asked Questions about SME loans from Magma Fincorp Limited
1. What is an SME loan?
An SME loan is a financial product designed specifically for small and medium-sized enterprises to help them meet their business needs and requirements.
2. What are the eligibility criteria for an SME loan from Magma Fincorp Limited?
The eligibility criteria may vary, but generally, businesses need to have a certain minimum turnover, a good credit score, and a track record of profitability to qualify for an SME loan from Magma Fincorp Limited.
3. How much can I borrow with an SME loan from Magma Fincorp Limited?
The loan amount you can borrow will depend on various factors such as your business's financial health, creditworthiness, and the purpose of the loan. Magma Fincorp Limited offers customized loan solutions based on individual business needs.
4. What is the interest rate for SME loans from Magma Fincorp Limited?
The interest rate for SME loans from Magma Fincorp Limited may vary based on market conditions, the borrower's credit profile, and other factors. It is recommended to contact Magma Fincorp Limited directly for current interest rates.
5. How can I apply for an SME loan from Magma Fincorp Limited?
You can apply for an SME loan from Magma Fincorp Limited by visiting their website, filling out an online application form, and submitting the required documents. Alternatively, you can also visit one of their branches to apply for a loan in person.
