Overview of Industrial Loan in Sonipat

Industrial loans in Sonipat provide financing for setting up factories, expanding manufacturing units, or purchasing heavy machinery, supporting industrial growth in Sonipat’s thriving economic landscape.

Eligibility Criteria

Criteria Details
Applicant Type Business entities, proprietorships, partnerships, companies
Business Age Minimum 3 years
Turnover ₹1 crore p.a. (minimum)
Credit Score 700+
Collateral Property, machinery, or fixed assets
Project Plan Detailed project report required

Documents Required

  • Identity Proof: PAN Card, Aadhaar (for directors/partners)
  • Business Proof: GST registration, Udyam certificate
  • Financials: ITR, balance sheets (3 years)
  • Bank Statements: Last 12 months
  • Collateral Documents: Property deeds, machinery invoices
  • Project Report: Detailed plan for loan utilization

Benefits of Industrial Loan in Sonipat

  • High loan amounts up to ₹50 crore
  • Competitive rates starting at 8% p.a.
  • Long tenures up to 15 years
  • Financing for factory setup, expansion, or modernization
  • Flexible repayment options for businesses

Compare Industrial Loan Lenders in Sonipat

Lender Interest Rate Loan Amount Tenure Processing Fee
SBI 8% p.a. Up to ₹50 crore 15 years 1%
HDFC Bank 8.5% p.a. Up to ₹40 crore 12 years 0.75%
Bank of Baroda 9% p.a. Up to ₹30 crore 10 years 1.25%

Frequently Asked Questions

What can an industrial loan be used for in Sonipat?

Factory setup, expansion, machinery purchase, or working capital for industrial units.

Is collateral mandatory for industrial loans?

Yes, most lenders require property, machinery, or fixed assets as collateral.

How long does it take to get an industrial loan approved?

15–30 days, depending on documentation and project evaluation.

Can startups apply for industrial loans?

Startups with less than 3 years of operation may face stricter criteria but can apply with a strong project plan.

Are there government schemes for industrial loans?

Yes, schemes like CGTMSE or SIDBI loans may support industrial financing.

What happens if I default on an industrial loan?

Lenders may seize collateral, initiate recovery, and your credit score will be impacted.

Promotional Offers for 2025

  • Interest rates starting at 8% p.a. for industrial loans in Sonipat
  • Reduced processing fees for applications before 31st May 2025
  • Free industrial loan eligibility check via Loanpao
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