Factory Loan Eligibility
Before applying for a Factory Loan, it’s important to understand the eligibility requirements to ensure smooth approval and quick disbursal. At Rohini Financial Services, we make the process simple and transparent, helping manufacturers, factory owners, and industrial entrepreneurs access the funds they need to grow.
Who Can Apply for a Factory Loan?
The Factory Loan is ideal for:
- Manufacturing units and production facilities
- Factory and plant owners
- Industrial business proprietors
- Entrepreneurs setting up a new factory
- SMEs or MSMEs engaged in manufacturing or processing
Basic Eligibility Criteria
1. Business Type
Eligible applicants include:
Proprietorships, Partnerships, LLPs, and Private Limited Companies
Registered MSMEs and SMEs under the MSME Act
2. Business Vintage
The business should be operational for at least 1 to 3 years (depending on lender requirements).
3. Annual Turnover
Minimum turnover of ₹20 Lakhs to ₹1 Crore, depending on the loan amount requested.
4. Credit Score
A CIBIL score of 700 or above is preferred for easier approval and better interest rates.
5. Age of Applicant
Applicant should be between 21 to 65 years at the time of loan maturity.
6. Collateral / Security
Collateral may be required for higher loan amounts (property, machinery, or other assets).
Smaller factory loans may be collateral-free, depending on the lender.
7. Repayment Capacity
Financial documents and cash flow statements will be assessed to determine repayment ability.