During the expansion or upgradation of a business, merchants essentially need a huge amount of fast cash in order to meet the financial requirements of working capital. Mahindra Finance offers short-term loans to its customers in order to help them meet their urgent business finance requirements. The Mahindra Finance Short-Term Loan can be availed by small and medium enterprises from the auto-ancillary, food and agri-processing, and automobile industry. Under this scheme, borrowers can avail a loan up to Rs.25 crore depending upon their eligibility. In order to secure this loan, the applicant will have to hypothecate his or her assets worth up to 1.25 times the total loan amount. With the option to select a loan tenure of up to 12 months, customers will be able to repay the loan as per their convenience and repayment capability.
Before you decide to opt for a short-term loan from Mahindra Finance, you should learn about the key features of the scheme. Check out the list mentioned below to find out whether this loan scheme suits the financial requirements of your business:
Find out how you can benefit from a Mahindra Finance Short-Term Loan by looking at the list mentioned below:
Under this scheme, business owners can withdraw a loan to take care of their urgent business credit needs such as operational expansion and upgrade, maintaining cash flow, etc. The businesses which can borrow a Mahindra Finance Short-Term Loan should operate in the following industries:
Furthermore, any small and medium enterprise (SME) should fulfil the following criteria in order to be eligible for this loan:
In order to apply for a loan under this scheme, the borrower will have to provide valid documents regarding the following:
In addition to the documents mentioned in the list above, the credit officer might request you to submit some additional document as per requirement.
It is imperative that you calculate beforehand how much monthly installment you will have to pay once you borrow a certain amount of loan. This will not only allow you understand if borrowing a particular amount is feasible according to your repayment capacity, but will also help you manage your finances better in the long run. Therefore, learn how to calculate your Equated Monthly Installment (EMI) through the online EMI calculator offered by Mahindra Finance mentioned in the following steps:
There are three ways customers can apply for a short-term loan through Mahindra Finance:
If you want to opt for a short-term loan from this company, you can also submit an application by calling at +91-22-6652 6000. Once your request is received by the company, a company official will reach out to you in order to walk you through the entire procedure and help you process your request further.
Mahindra Finance also offers its customers the facility to apply for a short-term loan by sending an application via email at SME.email@example.com. Once the application is submitted, a representative of the company will contact the individual in order to process the request further by explaining the next steps.
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