Udyog LAP: Multiple income streams, single loan solution

Small business owners wear many hats! Your role is diverse, as you manage operations, marketing, sales, and more. This also extends to managing finances, as many businesses earn money from different sources like product sales, client services, property rentals, and investments.

Traditionally, securing a loan could be a challenge if your income came from multiple income sources. But what if your multiple income sources paint a robust financial picture? That's where Godrej Capital’s Udyog Loan Against Property for MSMEs steps in.

What is Udyog LAP?

Udyog LAP (Loan Against Property) is a loan product designed by Godrej Capital specifically for Micro, Small and Medium Enterprises (MSMEs). It's a secured loan, meaning you'll mortgage a property you own to secure the loan. Udyog LAP considers a wide range of collaterals other than industrial, residential, and commercial properties.

Also Read: A Comprehensive Guide to Udyog Loan Against Property: Everything You Need to Know

Udyog LAP for Small Businesses: A Boon for Business Growth 

Udyog LAP recognizes the realities of small businesses today. It understands that your income might flow from various sources and considers all of them when assessing your loan eligibility. This is a game-changer for businesses with:

• Freelance income: If you consult or provide freelance services, your income might fluctuate. Udyog LAP considers this income stream, providing a more holistic view of your financial health.

• Rental income: Owning rental properties can be a great way to generate passive income. Udyog LAP factors in this income, giving you access to potentially larger loan amounts.

• Business ventures: Perhaps you have side businesses alongside your main venture. Udyog LAP acknowledges this additional income, strengthening your loan application.

By considering your multiple income sources, Udyog Loan Against Property eligibility criteria open doors to the financial resources you need to fuel your business growth.

Benefits of Udyog LAP for Small Businesses

Udyog LAP goes beyond recognizing your diverse income. Here's how it empowers your business aspirations:

• Higher Loan Eligibility: With a broader assessment of your income, Udyog LAP allows you to qualify for a larger loan amount and has a higher eligibility. This translates to bigger investments in equipment, marketing, or inventory.

• Competitive Interest Rates: Udyog LAP offers attractive interest rates, making your loan repayment more manageable and allowing you to free up capital for other business needs.

• Flexible Repayment Option: Structure your EMIs comfortably and avoid financial strain. You can Design Your EMI as per your cashflow requirements and pay interest-only for a specified period.

Also Read: Flexibility of Repayment in Business Loans

• Longer Loan Tenure: Enjoy a longer repayment tenure of up to 15 years. This lets you enjoy lower EMIs spread over a long period of time.

💡Pro tip: Use Udyog Loan Against property EMI calculator to effectively management your EMIs.

• Multiple Collateral Options: Udyog LAP accepts a variety of properties as collateral, including commercial spaces, residential units, or even land. This flexibility ensures you can secure the funding you need without limitations.

• Flexi Funds: Udyog LAP offers Flexi Funds, an overdraft like facility. This facility sanctions a pre-defined limit. It lets you withdraw and repay funds as per your convenience in just a few clicks. The best part is that you’d need to pay interest only on the amount utilised.

Also Read: Overdraft Facility and Flexi Funds: All You Need to Know

Unlock Your Business Potential with Udyog LAP

Udyog LAP is a breath of fresh air for small business owners who operate with varied income streams. It acknowledges the multifaceted nature of your business and empowers you to achieve your financial goals.

Don't let limited loan options restrict your business growth. With Udyog LAP, you can access the funding you deserve to turn your aspirations into reality.

Secure the funding your business needs with Udyog LAP's flexible eligibility criteria and competitive interest rates. Apply Now

Looking for more information? Visit our Knowledge Center today!

Related FAQs:

Q.1. What are the benefits of Udyog Loan Against Property?
Udyog LAP offers several benefits, including lower interest rates compared to unsecured business loans, a longer repayment tenure of up to 15 years, and higher loan eligibility by considering multiple income sources.

Q.2. What type of property can be used as collateral for Udyog LAP?
Godrej Capital accepts a wide range of properties as collateral for Udyog LAP, including residential, commercial, and industrial properties. You can even use a construction plot with a clear title as collateral.

Q.3. What is the eligibility criteria for Udyog Loan Against Property?
Udyog LAP offers higher eligibility. The eligibility criteria for Udyog LAP will typically consider factors such as your property value, business income, credit history, age, and other specifications set by Godrej Capital. You can also explore online Udyog Loan Against Property Eligibility Calculator by clicking here

Q.4. What is the interest rate for Udyog Loan Against Property?
The interest rate for Udyog LAP starts from 11% per annum. It's important to note that the actual interest rate offered may vary depending on your creditworthiness and other factors.

Q.5. Can I use Udyog Loan Against Property to buy new equipment for my business?
Yes. Udyog Loan Against Property can help a business owner in variety of ways, including buying new equipment.

Disclaimer: The contents of this article are for information purposes only & not a financial advisory. For more details, please refer to the product or service document and/ or connect with our customer representative prior to making any financial decision. The information is subject to update, completion, revision, and amendment and may change materially. 

The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Godrej Capital or its Affiliates to any requirements. 

Godrej Capital or its Affiliates shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

Financing through Godrej Finance/Godrej Housing Finance Limited. Product Terms & Conditions apply, for details visit https://www.godrejcapital.com