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Total Summary
About Business Loan
A business loan is an unsecured loan that is basically a borrowed amount of capital that is used for an investment in a new or existing business setup. A Business loan helps you in uprising the capital of your company for extending your current activities or purchasing new equipments, and among other things too. For maintaining the seamless operation of your business, the amount of money you got from a business loan allows you to make required payments on time.
It is absolutely important to understand how these loans work for every small, medium, or large business. Before you proceed to take a business loan, All the aspects like formalities, benefits, risks, etc. require your utmost attention.
Every business has different needs and no financial solution that fits every problem you face. The Financial future of your business depends on your capabilities, vision & your financial situation.
If You Are Looking For Business Loan, You Can Avail
50K to 1Cr
Amount to suit various business needs
12 to 60 months
Flexible Tenure for easy repayment
14% to 36%
Competitive Interest Rates
No Hidden Charges
Transparent Processing
Business Loan Eligibity
- Minimum age should be between 18 years & Maximum age 65 years at a time of loan maturity.
- A person must be the Resident of India without any criminal record.
- Minimum 3 years of owning the business & No previous default with any financial institutions.
- Minimum profit and annual turnover at lender's attention.
- Balance sheet audited by Registered CA compulsory.
- Credit score must be 700 & more.
Documents Required
- Identity proof like Voter ID, Driving license, Passport, Aadhar Card.
- Age proof (LC, Pension payment receipt, LIC policy, etc.)
- Address proof (Rent agreement, Ration card, Electricity bill, Property tax receipt, etc.)
Additional Documents
Income Tax
- 2 years Income Tax Returns with COI.
- Advance Income Tax Paid.
- GSTR3CB , GSTR3CD Tax audit Report.
- 2 Years Audit Report.
Income Proof - Financial Statement Audited by CA
- Profit and Loss Account Statement
- Balance Sheet
- 12 Months Bank Statements
Proof of Business
- PAN
- GST Registration Certificate
- Trade License Partnership Deed
- Article of Association
- Memorandum of Association
- Import Export Code
- Registration Certificate
- Professional Practice License for CA, CS, Doctors like Degree Certificate & Practice Certificate.
- Registration Certificate of Establishment for Shops, Factories, and Other Establishments
- Business Address Proof