A business loan is an unsecured credit that you might use to address the urgent needs of your developing company. Business loans enable you to raise financing for your company to extend your current operations, increase production, go online, purchase new machinery, and more. Firm finance provides you with a swift infusion of cash, allowing you to make required purchases and payments on time, ensuring that your business runs smoothly.
Cover your costs, whether you’re planning on equipping your employees with cutting-edge equipment or launching a new store. Many organizations are in a state of flux as we approach 2022, and our multi-product business finance products are geared to meet your individual needs. With our structured Business Loan EMI alternatives and extended loan tenures, you may better manage your company’s cash flow.
Our company loans are adaptable and may be tailored to your specific needs. With our multifunctional Business Loans, you can fund working capital, upgrade gear, or support the financial health of your company.
EMI Plans That Are Structured.
Our Business Loans come with extended loan terms ranging from 12 to 36 months to ensure that you can comfortably return your finances. You can also choose your monthly loan payback installment based on your company’s cash flow.
Eligibility is high and documentation is simple.
Women’s Business Loan.
Loans to Micro, Small, and Medium-Sized Enterprises (MSME/SME)
Loan of Equipment.
Loan for Working Capital.
Who is eligible for a business loan?
Business finance is available to partnerships, single proprietorships, private limited enterprises, hospitals, and diagnostic labs. Self-employed non-professionals and self-employed professionals are both eligible to apply for a Business Loan in India.
What are the Business Loan Eligibility Criteria?
Basic criteria for business loan eligibility include CIBIL score, age, business turnover, and other factors that candidates must meet to obtain business financing.
Criteria for Business Loan Eligibility:
Age should range from 25 to 65 years old.
A CIBIL score of 700 or above is required.
The candidate must own and operate a profitable business for three years in a row.
The company’s turnover must be on the rise.
A certified Chartered Accountant will audit your balance sheet.
What Documents Do I Need for a Business Loan?
To get a business loan, you’ll need the following documents.
Bank statements from the previous six months.
Income Tax Returns from the previous two years.
Balance sheet and profit and loss account for the last two years.
Documents relating to the company’s Know-Your-Customer (KYC)
Documents proving the firm owners’ identity.
A report outlining how the candidate intends to use the Business Loan in detail.
Photo identification (Aadhar card, driver’s license, voter identification card, passport)
Statements of account.
Proof in the workplace.
