Chola SME Loans are business loans created exclusively for Small and Medium Enterprises to grow and diversify their business. Chola offers a range of financial solutions to meet your specific short-term or long-term funding and business expansion requirements.
Secured Term Loan
Term loans funded for business expansion or asset acquisition or debt restructuring
Loans ranging from INR 10 Lakhs to INR 20 Crores
Convenient repayment options
Loans for Small and Medium Business
Loans to Private Limited Companies, Partnership Firms or Proprietorship Concerns
Acceptable Collateral: Commercial Property/Residential Property/Industrial/Factory Land and Building
Loan Against Securities is a facility which gives you an option to get quick cash rather than selling your investments. You can avail loan against securities by pledging your investments like shares and mutual funds. These shares and mutual fund will be pledged to Chola until the loan is paid back, however the ownership of the pledged asset remains intact, meaning that it continues to give dividends and other benefits to the owner.
Know more about - Loan Against Securities
Features & Benefits
Loans ranging from INR 10 Lakhs up to INR 15 Crores
SME Loan is a type of business loan offered to small and mid-size businesses to grow and expand their business. These loans can be short term or for a long term.
Who is eligible for an SME loan?
Chola gives SME loans to retail and wholesalers, manufacturers, stockists and distributors, service providers, Private LTD, Partnership or Proprietorship Company, etc.
What are SME loans used for?
SME Loans are used for working capital needs, business expansion, procuring new machinery and equipment, infrastructure development. Etc.
What is the loan amount Chola offers?
Chola offers SME loans ranging from 10 lakhs up to 5 crores.
What is the loan tenure for SME loans?
Filled loan application form
KYC documents of the company-(PAN Card, Registration of Incorporation, Partnership deed, Memorandum & Articles of Association)
KYC documents of the business owners
Balance sheet and Profit & Loss accounts for the last two years
Income Tax Returns for the last two years
Company bank statements for the last six months
GST returns for the last 6 months
Is external guarantor needed to get a loan?
No external guarantor is required.
What is the security or collateral that I have to provide to get a loan?
Acceptable Collateral is Commercial Property, Residential Property, Industrial / Factory Land and Building.
Is the interest rate fixed or floating?
Both are available.
How much EMI should I pay?
EMI depends on the loan amount and tenure. Please check out our EMI calculator.
Is there any age limit to get a SME loan?
You must be between 25-65 years of age and have business that shows a profit for the last three consecutive financial years.
What are the modes of repayment?
You can pay through Post Dated Cheques, Electronic Clearance Service (ECS) or Direct Debit.
What are the ways to apply for a SME loan?
- You can apply online at www.cholamandalam.com by filling our online loan application form
- You can download our mobile app on playstore and apply for a loan
- Our Chola staff will come to your doorstep to service you. Just give a call to customer care number 1800 102 4565 (9am to 7pm)
- You can walk-in to our nearest branch and avail our services.
Can I pre-closure my loan?
Yes, you can repay the loan ahead of schedule. There aren’t any pre-closure charges or any hidden charges. Everything is transparent and mentioned upfront.