Business Loan

Eligibility for availing a Business Loan

Business loans can be availed by the following entities, such as MSMEs, SMEs, entrepreneurs, small business owners, artisans, traders, retailers, manufacturers, private limited and public limited companies, sole proprietorship, partnership firms, limited liability partnerships, etc.

Age Criteria: Minimum age 18 years at time of loan application and maximum 65 years at time of loan maturity

Loan Amount: Minimum Rs. 10,000 and maximum Rs. 50 lakh, can exceed up to Rs. 10 crore and more, depending up on business requirements and applicant’s profile

Repayment Tenure: From 12 months to 60 months

CIBIL/Credit Score: 650 or above

Applicant should be Indian national with no past criminal records

Business existence: minimum 2 years form the date of incorporation

Business experience: Minimum 1 year in the same line of occupation

Company’s Turnover: To be decided by the lender or financial institution

Required Document

  • PAN Card
  • Adhaar Card
  • Proof of Address
  • 3 years ITR with financial
  • Last 1 year bank statement of all accounts.
  • GST registration
  • GST return last 1 year 3B GSTR.
  • 3 years old business proof required
  • Ownership proof required
  • Photograph
  • Nominee PAN Card, Adhaar Card
  • Cancelled Cheque
  • Minimum Turnover 50 Lacs required

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