Overview of Project Loan in Sonipat

Project loans in Sonipat provide large-scale financing for businesses to fund infrastructure projects, business expansions, or new ventures, driving economic growth in Sonipat’s industrial and commercial sectors.

Eligibility Criteria

Criteria Details
Applicant Type Corporates, MSMEs, large businesses
Business Experience Minimum 3 years
Turnover ₹1 crore p.a. (minimum)
Credit Score 750+
Collateral Property, project assets, or equity
Project Plan Detailed project report with financial projections

Documents Required

  • Identity Proof: Aadhaar, PAN Card (directors/partners)
  • Business Proof: GST registration, incorporation certificate
  • Financials: Audited balance sheets, ITR (3 years)
  • Bank Statements: Last 12 months
  • Project Report: Detailed plan, cost estimates, revenue projections
  • Collateral Documents: Property deeds, asset valuation

Benefits of Project Loan in Sonipat

  • High loan amounts up to ₹100 crore
  • Competitive rates starting at 8.5% p.a.
  • Long tenures up to 15 years
  • Customized financing for large-scale projects
  • Support for infrastructure and industrial ventures

Compare Project Loan Lenders in Sonipat

Lender Interest Rate Loan Amount Tenure Processing Fee
ICICI Bank 8.5% p.a. Up to ₹100 crore 15 years 0.5%
HDFC Bank 9% p.a. Up to ₹80 crore 12 years 0.75%
State Bank of India 9.5% p.a. Up to ₹50 crore 10 years 1%

Frequently Asked Questions

What types of projects can be financed?

Infrastructure, manufacturing units, commercial real estate, or business expansions.

Is collateral mandatory for project loans?

Yes, lenders typically require property, project assets, or equity as collateral.

How long does it take to get a project loan approved?

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

Can startups apply for project loans?

Startups with strong financials and a viable project plan may qualify, but established businesses are preferred.

Are there government schemes for project loans?

Yes, schemes like MUDRA or SIDBI’s growth capital programs may support specific projects.

What happens if I default on a project loan?

Lenders may seize collateral, initiate legal action, and report to credit bureaus, impacting future financing.

Promotional Offers for 2025

  • Interest rates starting at 8.5% p.a. for project loans in Sonipat
  • Reduced processing fees for applications before 31st May 2025
  • Free project loan eligibility check via Loanpao
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