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Business Loans
Eligibility Criteria & Eligible Entities
Fuel Your Business Growth with a Fast Business Loan!
Get a convenient Business Loan to cover assets and expand seamlessly.
Most lenders provide loans to various types of businesses, including sole proprietorships, partnerships, limited liability companies (LLCs), corporations, and more.
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.
Some lenders require a minimum operational history for your business, usually ranging from a few months to a year or more.
Lenders may have a minimum annual revenue requirement to ensure your business has a stable income.
Secured loans might require assets as collateral to secure the loan. Collateral can be real estate, equipment, inventory, or other valuable assets.
Lenders often evaluate your business's cash flow to determine your ability to repay the loan.
Min. 21 years at the time of loan application & Max. 65 years at the time of loan maturity.
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
Min. 1 year or above
Min. 1 year, business location to remain same
Shall be defined by the Bank/NBFC
700 or above (Preferred by most private and public sector banks)
Indian citizens
Applicants must own either a residence, office, shop, or Godown.
Documentation for Business Loans
The list of documents required for a business loan 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, Aadhaar 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 Aadhaar 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
