Features and Benefits of our Business Loans
- Term Loans
- Working Capital Loans
- Business Expansion Loans
- Equipment Financing Loans
- Invoice Financing & Bill Discounting
- Machinery Loans
Eligibility Criteria & Eligible Entities
- Business Type: Most lenders provide loans to various types of businesses, including sole proprietorships, partnerships, limited liability companies (LLCs), corporations, and more.
- Credit Score: A good credit score is often required to qualify for a business loan. Lenders use your credit history to assess your ability to repay the loan.
- Business Age: Some lenders require a minimum operational history for your business, usually ranging from a few months to a year or more.
- Annual Revenue: Lenders may have a minimum annual revenue requirement to ensure your business has a stable income.
- Collateral: Secured loans might require assets as collateral to secure the loan. Collateral can be real estate, equipment, inventory, or other valuable assets.
- Cash Flow: Lenders often evaluate your business's cash flow to determine your ability to repay the loan.
- Age Criteria: Min. 21 years at the time of loan application & Max. 65 years at the time of loan maturity.
- Eligible Entities: Individuals, MSMEs, Sole Proprietorships, Partnership Firms, Public and Private Limited Companies, Limited Liability Partnerships, retailers, traders, manufacturers, and other non-farm income-generating business entities engaged only in the services, trading, and manufacturing sectors.
- Business Vintage: Min. 1 year or above
- Business experience: Min. 1 year, business location to remain same
- Annual Turnover: Shall be defined by the Bank/NBFC
- Credit Score: 700 or above (Preferred by most private and public sector banks)
- Nationality: Indian citizens
- Additional Criteria: Applicants must own either a residence, office, shop, or Godown.
Documentation for Business Loans
The list of documents to be submitted varies based on type of business entity. Submit the following documents to begin with the loan process:
- ITR for the past 2-3 years
- Current Bank Account Statement for the last 12 months
- Photocopy of PAN Card
- Address Proof for Residence such as Voter Card, Passport, Aadhar Card, Telephone Bill, Electricity Bill
- Address proof for Business such as the Telephone Bill or Electricity Bill
- Last Financial Year's provisional Financials and future year's projections.
- Company's business profile on the letterhead
- 2 photographs of promoters and property owners.
- Sanction letter and Repayment schedule of existing loan
- GST registration certificate and GST returns of latest 2 years.
- D-Vat/Sale tax registration copy
- Udhayam Aadhar registration certificate
- Rent agreement copy of factory and residence (if property is rented)
- Business Continuity proof of 3 years (3 years old ITR/Company registration etc)
- Company PAN Card, Certificate of Incorporation, MOA, AOA, List of Directors, and Shareholding pattern for Pvt Ltd companies
- Partnership Deed, Company pan Card for Partnership Companies
How to use Business Loan EMI Calculator
Using a business loan EMI (Equated Monthly Installment) calculator can help you estimate your monthly loan repayment amount.
Follow these steps to use a business loan EMI calculator effectively: