SME Loans
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
- Loans to Private Limited Companies, Partnership Firms or Proprietorship Concerns
Supply Chain Finance
- Help your dealers and suppliers to scale up and meet growing demands with our range of financial solutions for supply chain partners.
- Vendor Financing/ Purchase Invoice Discounting
- Sales Invoice Discounting
Equipment Finance
- Finance to MSMEs for their capex needs / Purchase of Equipments
- Equipment based finance – Primary collateral of equipment
- Funding to Start-up segment - based on equipment cash flows
Quick Financial Support
Frequently Asked Questions
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What is an SME Loan?
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.
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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.
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What are SME loans used for?
SME Loans are used for working capital needs, business expansion, procuring new machinery and equipment, infrastructure development. Etc.
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What is the loan amount Chola offers?
Chola offers SME loans ranging from 10 lakhs up to 5 crores.
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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
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Is external guarantor needed to get a loan?
No external guarantor is required.
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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.
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Is the interest rate fixed or floating?
Both are available.
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How much EMI should I pay?
EMI depends on the loan amount and tenure. Please check out our EMI calculator.
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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.
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What are the modes of repayment?
You can pay through Post Dated Cheques, Electronic Clearance Service (ECS) or Direct Debit.
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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.
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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.
