For Micros Small and Medium Enterprises getting business loans is a challenging task. Many look for collateral free SME loans to sustain their business as their competition is also with the existing market giants and without sufficient funding, it becomes almost impossible to sustain even for the initial five long years. In such a case, instead of getting a personal loan from private money lenders at high interest rates, it is best to get the same against a property if some of the conditions are getting fulfilled. Now, Financing of Small and Medium Enterprises is done by many nationalized and private banks as well as others.

They offer loans against property and SMEFinancemart helps in this endeavor by discussing and analyzing the loan request with the requestor. The fantastic online platform also bring together the requisite information from various sources to fine tune the application and get the requestor the best money lender in a seamless manner. As the balance sheets of Micros Small and Medium Enterprises are rather weak in the initial stage, SME loans against property are a wise move. It is first good to understand the eligibility criteria for small business startup loans against property.

Eligibility criteria for SME loans

There are some definite eligibility criteria that need to be understood before making any request for business loans. Some of the criteria’s are mentioned below.

Must have a logical property with clear title to indicate ownership
Must have an age equal to or more than 23 years at the date of application
Must have a maximum age of 65 years at loan maturity date
Must have a minimum income according to income tax returns
The business should be minimum two years old
Mush have evidences to show that EMI repayment is possible
Must not be in a loan defaulter list

General features of SME loans against property

Such loans against property have some general features which are essential to know like loan can be made available only 70 percent of the property value after proper evaluation and its amount can be in general between 2 lacs to 5 crores. Under certain conditions, even a higher loan can be granted against property. It should be noted that the maximum tenure for loan repayment is only up to 10 years. Overdraft options are also available in case of small business startup loans.

SMEFinancemart boasts of experienced professionals from reputed banking institutions and has a thorough knowledge of the requisite documentation and the other necessities to procure SME loans within a short period. To request a call back from these proficient professionals to assist in getting easy Loan Against Property.

For more information please visit http://www.smefinancemart.com