Fly High To Your Business Destiny with Mexmon Financials!
Do you want to grow your business to new heights? Whether it be for growth, office improvements, updates to your company’s look, changes in operations, incorporation of technology, acquisition of tools, or training, Mexmon Financials is your solution. The specially developed Business Loan in Jalandhar are perfect for all out there helping you get the capital you need to turn your dreams into reality with ease.
What Makes Mexmon Business Loans Special?
Mexmon Financials Company aims to improve working capital finances for businesses by offering responsive financial solutions to meet all business needs. As a trusted Business Loan agent in Punjab, we work to present business loans that are fast and easy, allowing you to focus on what truly matters – expanding your company. Our pledge to help you with your financial needs is enhanced by our shortened turnaround times for both short and long-term requirements.
Still unsure what kind of rent or mortgage payment options you will be making on a monthly basis? You can use our *Business Loan Calculator* to calculate your EMI making your budgeting all the more easier and flexible.
Your EMI Amount is:
Here you can see your total payment and total interest in your loan.
Total Payment
₹ 172165Total Interest
₹ 72165
1
First, identify your contingency risks in terms of your potential cost.
2
Make sure that you qualify for our business loans.
3
Complete your application online or talk to a Business Loan officer in Punjab.
4
Once they have been approved, you get immediate access to your money.
To make our financial assessments for your business loan comprehensive and transparent, we need some documents from you. Here’s what you’ll need:
Aadhaar Card
Passport
Voter's ID Card
PAN Card
Driving License
A Declaration of being sole trader or a certified copy of the partnership agreement.
Company original Memorandum & Articles of Association in True Copy authenticated by the Director.
Original Board Resolution.
As you will learn more from our various service provisions below, Mexmon Financials boasts of some of the best interest rates and flexibility in the borrowing products that we offer. Here’s a breakdown of our rates and charges:
| Interest Rate Range | 10.75%-22.50% to make sure you get a rate that will be adequate for you. |
|---|---|
| Processing Charges |
loan amount,” which can range from 0.50% to 2.00% of the loan amount for micro and small enterprises provided a loan up to ₹5 Lakhs no fee if URC submitted. |
| Penal Charges |
Penal charge can be set from 01/04/2024 at 0.5% per month (6% per annum) on any amount due and payable, plus GST. |
| Processing Fees | NIL (for loan facility up to ₹5 Lakhs availed by micro and small Enterprises subject to URC submission prior to disbursal) |
| Premature Closure Charges (For Full Payment) |
Up to 24 EMI repayments: Neither shall they make any second Loan direct or indirect on such collateral or any new security in an amount equal to more than 4 % of the principal outstanding. |
|
Post 24 and up to 36 EMI repayments: The amount, when renewable and unsecured, is limited to 3% of the principal outstanding. |
|
| Post 36 EMI repayment: 2% of principal outstanding | |
| Premature Closure Charges (For Part payment) |
Post 01 EMI and up to 24 EMI repayment: 4% of part payment amount |
|
Post 24 EMI and up to 36 EMI repayment: 3% of part payment amount |
|
|
Post 36 EMI repayment: 2% of part payment amount |
|
|
Partial premature payment is allowed up to 25% of Principal Outstanding, once in the financial year and twice during the loan tenure. |
|
|
NIL Premature Closure Charges for Fixed rate loan facility up to ₹50 Lakh availed by Micro & Small Enterprises, Closure from Own Source, and submission of Udyam Registration Certificate prior to disbursal. |
|
| Loan Closure Letter |
NIL |
| Duplicate Loan Closure Letter |
NIL |
| Solvency Certificate |
Not applicable |
| Delayed Instalment Payment Charge |
18% p.a plus applicable government taxes on overdue instalment amount |
| Charges for changing repayment mode |
₹500 |
| Amortization Schedule Charges |
Repayment Schedule Charges: Payment Return Charges: ₹50 per schedule for physical copy, ₹450 per instance |
| Legal/Incidental Charges |
At actuals |
| Loan cancellation Charges & Rebooking Charges |
Loan cancellation Charges: Interest charged from date of disbursement till the date of loan cancellation will be borne by the customer. Processing Fee, Stamp duty, other statutory charges, and GST are non-refundable. |
|
Rebooking Charges: ₹1000 + applicable government taxes |
|
| Minimal Documentations and Quick Disbursal |
Still, no tricks here – just an open funding platform to assist you with success! |
To qualify for our Business Loans in Jalandhar, ensure you meet the following criteria:
Business Type: We operate for independent professionals, traders or manufacturers, owners of sole or proprietorships, private limited companies, partnership firms, or business entities in manufacturing or services
Minimum Turnover: Ideally your business should have a turnover of ₹ 40 lakhs. - Business Experience: Minimum of 3 years in the current business_ _total of 5 years in any other business
Business Experience: Individuals must have a minimum of 3 years in the current business, with a total of 5 years of business experience.
Profitability: Your business should have been profitable from the last two years.
Minimal Annual Income (ITR): One must earn at least ₹ 1.5 lakhs per annum
Age Criteria: Loan applicants should be at least 21 years and not more than 65 years at the time of repayment of the loan
