Business Loan

Business Loan Eligibility

Generally business loans are applicable for Partner, Partnership firm, Proprietor, Director. Pvt ltd
Company involved in following businesses:

Manufacturing
Service Providers
Trading- Distributor, Dealer, Wholesalers, Stockist, etc.
Must be in current business for at least 3 years and owner must have at least 5 years of
experience
Applicant should have minimum turnover of Rs. 60 lakhs and the business should have record of
profit making record in past two years.
Have a minimum annual income of Rs. 2.50 lakhs for city category A
Rs. 2.00 Lakhs for city category B
Rs. 1.50 Lakhs for City category C
Age should be minimum 21 years and maximum 65 years at the time of loan maturity
Chartered Accountant/ Self Employed Professional

Documentation required for Business loan:

KYC Document
Proof of Business continuation
Business Vintage of 3 Years
Business proof: Certificate of practice
Bank Account statement of last month
Past two years ITR along with computation of income, profit & loss accounts, and Balance sheet.
Your financials should be Audited/Certified by a Chartered accountant.

Convenient and accessible

Multiple Loan options
Non profit sharing
Lower rates of interest
Bank loans offer tax benefits

Business loan

If you have a plan to start a new business and you’re confident to get good revenue. You can take up business loans. Business loans are similar to personal loan, but business loan are taken specifically for the business and personal for different reasons. With a support of business loan, you can borrow a certain amount of money for specific period of years, and the monthly EMI and interest rate are fixed over the tenure of your loan. Business loan can be taken either for a startup business or for existing business to develop their ventures, infrastructure services or expand their business in other areas.

Business loan are given either for short term or long term basis. Start up or small business owners, before opting a lender for a loan, it’s imperative for the business planner to understand how loans work and what the lender look up from the borrower.

Why to go for Business Loan?

Borrower must ask themselves some questions that will help them in take right decision such as:

You’re ready to expand your physical location
You’re building credit for the future
You need equipment for your business
You want to purchase more inventory
You’ve found a business opportunity that outweighs the potential debt
Your business needs fresh talent

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