The Legacy Loans

Legacy Loans

Uncomplicate and Rewire
With Your Questions Answered

Trust, Credibility, And Transparency

Uncomplicate and Rewire With Your Questions Answered

Trust, Credibility, And Transparency

Who is eligible to apply for Legacy SME Loans?

Privately owned small and medium enterprises (SMEs) operating in India can apply if they meet the foundational eligibility criteria.

What types of loans are offered by Legacy Loans?

We offer a range of options, including startup loans, working capital loans, equipment financing, trade finance loans, project-based loans, and more.

Is collateral necessary for SME loans?

This varies by loan type; we provide both secured and unsecured options.

How long does it take to get loan approval?

Our loan approvals are efficient, typically taking anywhere from a few days to a couple of weeks, depending on documentation and eligibility.

What are the minimum and maximum loan amounts I can request?

Loan amounts are tailored to your business needs and financial standing, generally starting from several lakhs and extending up to multiple crores.

Do you provide loans to new businesses and startups?

Yes, we offer startup loans, but applicants must present a strong business plan and demonstrate financial viability.

Can businesses located in rural areas apply for loans?

Absolutely! Privately held SMEs in rural sectors such as agriculture, handloom, manufacturing, and others are welcome to apply.

What advantages come with obtaining an SME loan from Legacy Loans?

We provide competitive interest rates, tailored repayment plans, minimal paperwork, and assistance with credit history improvement.

How can I verify my loan eligibility?

You can check your eligibility by submitting basic business details, financial records, and an assessment of your credit history through our website or by contacting our expert advisors.

How do I go about applying for a loan?

Simply visit our website, complete the loan application, and submit the necessary documents for prompt processing.

Can women entrepreneurs apply for SME loans?

Absolutely! We have special loan options tailored for women-led businesses, complete with flexible repayment plans.

Do I need a strong credit history to apply for a loan?

Having a solid credit score is beneficial, but we also take into account your business potential, revenue, and overall financial health.

Can franchise owners apply for a loan?

Yes, franchise owners who are looking to grow their operations or open new locations are welcome to apply.

Are there specific SME loans for tech startups?

Yes, we provide tailored financing options for tech startups, such as working capital and loans for expansion.

Do I need to provide business financials for a startup loan?

For startups, a well-prepared business plan along with projected financials will suffice in place of historical statements.

What documents are required to apply for an SME loan?

Typically, you’ll need to submit proof of business registration, financial statements, tax returns, and KYC documents.

Can I apply for more than one SME loan at a time?

Yes, businesses can apply for multiple loans as long as they have the financial capability and a good repayment history.

How is the loan amount determined?

We figure out the loan amounts based on your business income, profitability, credit score, and the intended use of the loan.

Is there a prepayment penalty if I want to close my loan early?

This varies by loan type; some loans come with no prepayment penalties, while others may have minimal fees.

How do I track my loan application status?

You can easily check your loan application status through our online portal, or you can get in touch with our loan advisors for assistance.

What repayment options are available for SME loans?

We offer flexible EMI plans, bullet payments, and structured repayment options tailored to fit your business cash flow.

How is the interest rate for my loan determined?

Interest rates are influenced by the type of loan, its duration, your creditworthiness, and the overall performance of your business.

Can I extend my loan duration if necessary?

Yes, in certain situations, we can adjust the loan term based on your business performance and repayment track record.

What are the consequences of missing an EMI payment?

Missing a payment may lead to penalties, negatively impact your credit score, and influence approvals for future loans.

Do you provide refinancing options for current business loans?

We offer refinancing solutions aimed at lowering interest rates and relieving repayment pressures.

Are there loans specifically designed for certain industries?

Yes, we offer customized loans for sectors like retail, manufacturing, healthcare, logistics, and more.

Can I secure a loan for buying machinery or equipment?

Absolutely! Our Equipment Financing Loan is designed to help businesses acquire or upgrade machinery.

Is there an option for loans to facilitate international trade or exports?

Yes, we provide Trade Finance Loans to assist businesses engaged in imports and exports.

Do you offer financial advisory services alongside the loan?

Yes, we support SMEs with financial planning, credit management, and investment strategies.

Can I apply for a loan in person rather than online?

Yes, you’re welcome to visit our office or reach out to our loan advisors for assistance with offline applications.

How can Legacy Loans assist in enhancing my credit score?

Legacy Loans offers structured repayment options, financial advice, and responsible lending practices designed to help small and medium-sized enterprises (SMEs) establish a solid credit history over time.

Will taking a loan from Legacy Loans affect my credit score?

Absolutely. Making repayments on time can notably boost your credit score, while late payments can have a detrimental effect. We advocate for responsible borrowing to improve your financial standing.

Can I secure a loan with a low credit score?

We have options available for businesses aiming to improve their credit.
We evaluate businesses comprehensively, looking at revenue potential and financial health. While a higher credit score can lead to better loan terms, you may rectify your credit history with Legacy.

What actions can I take to enhance my business's credit score?

Paying debts on time, reducing outstanding credit balances, maintaining strong cash flow, and utilizing Legacy Loans’ guidance on credit improvement can all contribute to restoring and bolstering your creditworthiness.

Does Legacy Loans provide credit-building loans for SMEs?

Yes, we offer specialized financing solutions specifically designed to assist SMEs in establishing or rejuvenating their credit profiles, promoting long-term financial stability and easier access to future funding.

What are Legacy Rural Loans, and who is eligible to apply?

Legacy Rural Loans are specifically created to assist small and medium-sized enterprises (SMEs) located in rural areas. This includes small businesses, agricultural operations, and self-employed individuals engaged in rural trade.

Which businesses are eligible for rural loans?

Eligibility is limited to small and medium enterprises (SMEs) that operate in rural industries such as agriculture, dairy farming, handloom production, rural manufacturing, and small-scale services.

Is collateral required for a rural loan?

Whether collateral is necessary will depend on the type of loan. We offer both secured and unsecured loan options for rural SMEs, ensuring that businesses can access funding regardless of their asset status.

How quickly can a rural SME receive funding?

We emphasize efficient loan processing for SMEs in rural regions, with approvals generally completed within a few days, assuming all required documentation is provided.

Are there flexible repayment options available for rural SME borrowers?

Absolutely! We provide customized repayment plans that align with the seasonal income patterns of rural SMEs, making it easier for businesses to manage their loan repayments without financial strain.