Overview

Aditya Birla Capital Ltd Business /SME Loan service is considered one of the top 5 NBFCs in the nation. Aditya Birla Capital business is also the largest company except for business finance it also provides services in terms of Private Life Insurance, Asset Management, and General Insurance Brokers in India.

Financial solutions serve as the skeleton for commercial corporate firms and many small business enterprises, SMEs, and MSMEs by providing capital when those firms lack the capacity to overcome unforeseen obstacles or financial problems. All companies that require financial assistance can rely on these financial services where an appropriate business loan or SME loan is provided to carry out company operations successfully, and they have a significant impact on the expansion of the organizations.

One such financial organization that is ranked among India’s top finance companies is Aditya Birla Capital Finance System. Aditya Birla Capital has attracted many people of various ages and occupations due to the wide range of solutions and programs it offers. Additionally, Aditya Birla Capital Finance offers its clients numerous advantages and unique benefits, as well as the loans they provide, are also with reasonable premiums depending on the affordability of the customers.

Under Company Act 1956, Aditya Birla Financial Service Private Limited was registered by the Reserve Bank of India as the non-deposit NFBC in May 2009. Later in December 2014 the company reformed from a private to a public limited company and was renamed Aditya Birla Financial Service Limited. In the month of June 2017, the company was again given the new name “Aditya Birla Capital Limited”. As Aditya Birla Capital Ltd Business is the finance business of the Aditya Groups it has been marked as the top financial firm in the financial market of the nation.

The schemes available in the Aditya Birla Capital finance system are protecting, financing, investing, and advising many SMEs and MSMEs. The Aditya Birla Capital Business is a very well-known finance institute with almost 30,500 employees and there are 1,048 branches spread across the nation. The values that drive Aditya Birla Capital’s business include integrity, commitment, passion, seamlessness, and speed.

Aditya Birla Capital business believes in fair behavior which leads to shaping the organization to focus on results, accountability with discipline, entrepreneurship, respect, and openness. The main aim of Aditya Birla Capital’s business is to get engaged by satisfying the needs of customers, stakeholders, employees, and society.

Highlights 

• Aditya Birla Capital business loan or SME loan service is considered one of the top 5 NBFCs in the nation.

• Aditya Birla Capital business is also the largest company except for business finance it also provides services in terms of Private Life Insurance, Asset Management, and General Insurance Brokers in India.

• In the market, Aditya Birla Capital business has a diversified offering to almost all the people of different lifestyles and of different age groups.

• Aditya Birla Capital offers a fixed rate of interest and the interest rates remain the same throughout the tenure period of the loan.

• In the year 2020, the consolidated Lending Book is over Rs. 575 billion which is also marked as an achievement in the market.

• There are more than 2,00,000 agents, partners from the bank, and channels associated with Aditya Birla Capital’s business.

• Aditya Birla Capital business has around 140,000 employees forces across 100 nations. Where 50% of the Aditya Birla Group’s revenue comes from overseas.

Read More: L&T Finance Holdings Ltd Business/SME Loan

Types of Business Loans by Aditya Birla Capital Ltd

Based on the financial requirements, the customer can choose the business loans provided by Aditya Birla Capital Ltd. As there are many types of business loans, one must be aware of the loan types in order to get benefitted from the business loan provided by Aditya Birla Capital Ltd. The type of business loans are as mentioned below:

Term Loan: When the business owner applies for the business loan the tenure of the loan is decided by the finance lender. The tenure of the loan is given as a specific duration of time.

Working Capital Loan: Working Capital loans generally have a short duration of tenure and they can be used for fulfilling day-to-day activities of the business such as purchasing goods and inventories; and also used in enhancing cash flow.

Machinery Loan: The Machinery loan is taken by the business owners in order to buy new types of machinery or to take the machinery on lease. Usually, large manufacturing businesses opt for machinery loans.

Letter of Credit: Many trading businesses take this letter of credit in order to use it for the import or export requirements for the business.

Micro, Small, Medium Enterprises (MSME) Loan: The MSME loans are generally taken by businesses such as MSMEs, start-ups, individuals, and other industries. This loan is provided as the working capital loan to the business.

Benefiting products of Business/SME loans

The owners of micro, small, and medium businesses need financial assistance for smooth functioning and to plan for the expansion of the business at some point of the business. Aditya Birla Capital Business loan is unique financing that does not ask for security. To expand the business the business owner can either make use of technologies or increase the production of the services to meet future demands.

Other than these improvements the business owner also has to look out for opportunities to expand capitalization like a sudden tender to bid for; or buy an auction to level up the business. All these requirements can be fulfilled by the best product schemes offered by Aditya Birla Capital that can be beneficial to the business or SMEs. The products offered are as mentioned below:

Line of Credit: The Line of Credit is an agreement between the lender and the customer to get the maximum loan amount the lender could permit in order to restrain the customers. The customer can draw the required amount from the line of credit but could not exceed the limit. The tenure of this loan is for specified time duration and specified interest.

Unsecured Business Loan: Aditya Birla Capital’s Unsecured business loan does not require any collateral or security deposit for the business or SME loans. An unsecured loan can be used by business owners to expand their business, buy machinery, or even start a new business. The maximum loan amount for business provided by Aditya Birla Capital is 1 Crore. The product is applicable to individual and non-individual parties, self-employed entrepreneurs, trading owners, and manufacturing companies.

Aditya Birla Finance assistance provides the best solutions as per the requirement of the business, with reasonable interest rates. Aditya Birla Capital’s business loan has a flexible tenure period from 12 months to 48 months depending on the affordability of the customer with an easy EMI option.

Secured Business Loan: There has been a tremendous improvement in Small and Medium Enterprises (SMEs) over the past few decades by providing job opportunities to millions of employees. The SMEs have a great contribution to the country’s export and to maintain that there must be proper funds to support the SMEs.

This business loan can be considered as the financial product called the SME loan SME loans are beneficial for the business in India, in order to set higher objectives by overcoming the working capital gaps. The secured Business Loan is beneficial if the business requires the funding in a short period of time, within a week of time from submitting the application, and also if the business requires long-term and short-term finance.

Read More: Muthoot Finance Ltd Business/SME Loan

Process requires

• The minimum ticket size of Rs 1 crore and maximum ticket size of Rs 25 crore.

• Initial assessment regarding the requirement objective, business owner’s repayment capability, and financial value of the business.

• The turnaround time is around 7 days after receiving the application with the required documents.

• The assessment methodology offered by Aditya Birla Finance SME is “Parameterised Lending” to ensure that funds are sanctioned timely to the customer.

Working Capital Demand Loan: For running the business working capital plays a vital role and sometimes the working capital is not present in the hands for the smooth running functionality of the business. Thus, taking the Working Capital Demand loan is beneficial in order to meet the financial needs of the business. The Working Capital Demand loan is basically a short-term product loan type and not a long-term finance requirement.

Supply Chain Financing Solution – Invoice Discounting: This product of financing helps in converting the receivables in form of cash which will increase the liquidity and continues the cash flow of the business. This product also offers funding by providing discounts on the sales bill or purchase bills.  Not only the regular bills are discounted but also service bills are discounted backed by a Letter of Credit (LCBD).

This financing facility of the product is applicable to the channel partner of the business which strengthens the relationship with the vendors and the channel partners. The other benefit of this product financing is that it increases sales through higher purchasing power, the payments are done faster which results in cash discounts from companies and also this product has the faster Turnaround Time (TAT) by following simple procedures.

Eligibility Criteria

As the business loan is very essential for the small business in order to fulfill the business expenses. Customers who opt for Aditya Birla Capital Ltd Business /SME Loan must fulfill some of the basic criteria in order to receive the desired loan. Applicants need to submit the required documents correctly in order to avail of the business loan. Below given are the vital criteria such as CBIL score, age, nationality, monthly income, and occupation which decide the eligibility of the candidates in order to sanction the fund.

• The main eligibility criteria depend on the CBIL score and for applying for a business loan the CBIL score must be in between 720-750. The higher the score the more creditworthy the customer will be considered, and the approval process will be done quickly by the lender.

• Age plays a vital role in the decision of eligibility, as the applicant should be in the age group of 23 to 60 years. The less the age of the customer, the more chances the customer has of getting the desired loan through a swift approval process.

• Occupation of the applicant is also very important for the eligibility; the applicant must be a salaried employee. The applicant can be professional or non-professional.

• Nationality also plays a vital role, the applicant must be a citizen of India.

Required Documents

The documents required for the sanctioning of the loan are as mentioned below:

Application: An application form with all the basic details filled in has to be submitted by the applicant for a business loan.

Identity Proof: The copy of documents for identity proof such as national ID cards such as Aadhar Card, Voter’s ID Card, PAN Card, or Driving Licenses could be submitted.

Address Proof: The documents related to address details are to be submitted which are the Electricity bills, passports, and so on.

Financial Documents: Financial documents are also collected such as the bank statements from the past 5-6 months, the last 3 month’s pay slips, and other related documents.

The documents to submit vary for professional and non-professional applicants.

The documents required for the non-professional business applicant are-

• Identity proof of owning the business
• Documents of Income tax and sales tax returns
• Bank statements

The documents required for the professional business applicants are-

• Identity proof
• Documents of Income tax returns
• Address proof

Steps to apply

The online application is a quick process and will save waiting time and is considered as an easy process to avail of the business loan. The below steps has to be followed in order to apply for the business loan at Aditya Birla Capital Ltd online:

Step 1: Visit the official website of Aditya Birla Capital Ltd in order to apply for the loan.

Step 2: Click on the “Apply” button

Step 3: Fill in the basic details pertaining to personal, business, and financial details.

Step 4: The applicant has to upload the required documents depending if the applicant is professional or non-professional the correct required documents have to be uploaded.

Step 5: After finishing all these steps, at last. The application has to be submitted by clicking on “Submit”.

Once the application is submitted by the business owner, the representative after checking the details and if the right information is provided will contact the business owner. The business loan applied at Aditya Birla Capital will provide quick access to the business loan

To know more details on SME loans from Adithya Birla Capital . You can email [email protected] or call at  +918886666821.