Business Loan

A business needs funds to carry on its existing operations but the question arises from where can one get these funds. A business loan may be an answer to this question. Business loans are available to self employed professionals, firms and corporations, to meet their operating expenses, finance capital expenditure (or acquisition of fixed assets) towards starting or expanding a business. Even industrial units are given business loans, to swap existing high-cost debt from other bank / financial institution. It is usually unsecured and based on the borrower’s integrity and ability to repay the loan. You don’t need to provide any Guarantors or give any collateral to avail our Business Loans.

Terms & Conditions:
Eligibility Criteria: Any person who is running a legitimate business with good earnings can go for a business loan. Banks have certain criteria to validate on how much and whom to give.. This is on the basis on

Type of the business: Self Employed including Individual Proprietors, Private Ltd. Co. and Partnership Firms involved inthe Business of Manufacturing, Trading or Services.

Turnover of the business: ( Minimum Turnover of Rs. 40 Lakhs.)Years in business: Minimum of 3 years in current business and 5 years total business experience

Profit of the business: Business must be profit making for the last 2 years
Cash flow of the business.
Track record and type of business.

Age of Applicant: Min 21 years & Max. 65 years at the time of loan maturity.

Current and previous financial statements of your company are used by the bank to evaluate your repayment capacity.

Loan Amount Range: Avail loans from Rs. 3 lakhs to Rs. 75 lakhs

Minimal paperwork and Quick approval and hassle-free processing

Repayment Period Options:

  • Flexible repayment options: range of loan tenors that suit your repayment capacity ranging from 12 months to 48 months
  • Easy EMI repayments through cheques or ECS
  • Convenience of service at your doorstep

Time Required For Loan Disbursement: Loans are approved within 72 hours of submission of complete documentation.

Documents Required At The Time Of Application Following are the documents that lenders require at the pre-approval stage:
Documents Required for business loan.

  • ID Proof
  • Address Proof
  • Proof of Continuity Of Business
  • Bank Statement 6 Months
  • Board Resolution (If pvt ltd co. is co-borrower/Partnership Authorization Letter {if partnership firm is co-borrower}
  • ITR & Statement Of Computation of Income – for last 2 Years
  • CA Certified or Audited P/L Acc Statement and for >40 Lacs cases Audit report along with schedules of P&L and Balance Sheet – for last 2 years
  • Latest ITR of Co-Applicants – For last 2 Years
  • Ownership Proof of Residence or Office

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