Business Loans

Whether it is purchasing the latest machinery or improving the safety of your labor and warehouse, there are multiple reasons why a business requires a lot of funds until its existence. Most of the times, it is not possible to maintain so much of capital in your working capital. Hence in such tough times, you can opt for a business loan and utilize those funds to purchase machinery, improve your working capital, develop infrastructure, expand your business and much more.

When it comes to providing business solutions, multiple lenders provide one of the most effective solutions to different business companies all over India. When you apply for a business loan from any bank, you can get a loan which suits your business needs and helps you get back on track.

You can check your business loan eligibility in 60 seconds*. This eligibility is important as on the basis of the details you provide, lenders will be able to analyze your profile and will accordingly provide an interest rate for the business loan.

Your loan application status can be approved immediately if you can fulfill their eligibility. Since there are many more requirements, we have listed the minimum criteria required in order to apply for a business loan;

Minimum age - 21 years

Minimum Experience in current business - 3 years

Minimum turnover of business - 80,00,000*

Minimum Tax returns filed of business - 2 years

Amount (Max) - 75,000 - 80,00,000*

Annual Percentage for new loan (Minimum) - 16.00%*

Tenure (Minimum) - 12 months*  

What are the documents required for business loan?

For a business loan, documents required are related to identity, address, income, 6 months banking statements. They would need ITR computation for 2 years, Proof of continuation of business/Balance sheet, Sole proprietary /Partnership deed etc.