Business Loan

Type of Business Loan: Term Loan/ Working Capital Loan/ Business Expansion Loan/ Equipment Financing Loan/ Invoice Financing & Bill Discounting/ Machinery Loan

150+

35+

Man Years of experience

Happy clients

Features and Benefits of Business Loan:

• Flexible Loan Amount: Tailored to meet the specific financial needs of your business.

• Competitive Interest Rates: Offered based on prevailing market rates and creditworthiness.

• Quick Approval and Disbursement: Fast processing to ensure timely funding for business requirements.

• Customized Repayment Options: Structured to match cash flow and business cycles.

• Minimal Documentation: Streamlined process with fewer paperwork requirements.

• Collateral-free Options: Available for eligible borrowers based on credit assessment.

• Additional Services: Dedicated relationship manager for personalized service and support.

Business Loan Eligibility Criteria:

• Type of Business: Proprietorship, Partnership, Private Limited Company, Limited Liability Partnership (LLP), etc.

• Business Vintage: Generally, at least 3 years of business operation, although newer businesses may also be considered.

• Collateral: If the loan is, then customer might requires assets as collateral to secure the loan. Collateral can be in any forms like real estate, equipment, inventory, or other valuable assets.

• Annual Turnover: Minimum turnover criteria based on the lender's policy.

• Profitability: Positive or stable cash flows, depending on the lender's requirements.

• Credit Score: Typically, a good credit score above a certain threshold (e.g., 650) is preferred.

• Age Criteria: Minimum age of the applicant usually starts from 21 years and varies by lender.

• Eligible Entities: MSMEs, Sole Proprietorships, Partnership Firms, Public and Private Limited Companies, LLPs, Retailers, Traders, Manufacturers, and other non-farming income-generating business entities engaged only in the services, trading, and manufacturing sectors,

Documents Required to Apply for Business Loan in India:

• Identity Proof: Aadhaar Card/ Passport/ Voter ID Card/ Driving License

• Address Proof: Aadhaar Card/ Passport/ Voter ID Card/ Utility Bills (Electricity, Water, Gas)/ Driving License

• Business Proof: Certificate of Incorporation (for companies)/ Partnership Deed (for partnerships)/ Business Registration Certificate (if applicable)/ GST Registration/ VAT Registration (if applicable)/ Sales Tax Registration (if applicable)/ Shop Registration

• Financial Documents: Company essential Documents, Directors Documents, MOA, MOU, Shareholding pattern for Pvt. Ltd. Or Ltd. Companies. Income Tax Returns (ITR) of the business for the last 2-3 years/ Profit & Loss Account and Balance Sheet audited by a Chartered Accountant/ Bank Statements of the business for the last 6 months to 1 year/ GST Returns since 2 years at least/ VAT Return (if applicable)/ Sale Tax Returns (if applicable)

• Loan Specific Documents: Business plan or project report outlining the purpose of the loan/ Details of existing loans, if any/ Details of collateral, if applying for a secured loan

• Quotation for Machinery for machine loans: Detailed quotation from the vendor specifying the machinery or equipment to be purchased.

• Others: Passport-size photographs of the applicant(s)/ Duly filled loan application form/ Processing fee cheque

These documents may vary slightly depending on the lender and the nature of the business. It's advisable to confirm the specific requirements with the lender before applying for the loan.

Features and Eligibility Requirements