Business Loan

Business Loan

Business loans are unsecured and secured financial assistance provided by Banks and NBFCs in India. The object of Business Loan is to support the urgent needs of your growing business. Most financial institutions offer term loans and flexi loans to cater to the business needs of a company. Business loans are also called commercial loans. All types of businesses such as a sole proprietorship, privately held company, partnership firms, self-employed individuals and retailers can avail these loans.

Who can Apply for Business Loan:

• Self Employed Individuals, Proprietors, Private Ltd.
• Minimum Turnover Should be 40 Lakhs
• The Applicant Minimum Age Should be 21Yrs
• At the Time Of maturity Applicant should not be older than 65yrs
• ITR should be Last 3yrs is essential.
• Keep Proper Financial records

Rate of Interest

Rate of interest ranges from 11% to 24% depending on creditability of business and terms of lender.

Documents Required for Business Loan

• 2 Passport size photographs
• Pan Card & Aadhar Card
• Business Vintage Proof
• GST Certificate
• GST Returns of last 12 months
• Current Address Proof
• Business Registration and Ownership Proof
• Bank Account Statements of Last 1 Year
• 3 Years IT Returns and Audited Financial Statements