Business Loan

FUNCTIONALITY

A business loan is borrowed capital which entrepreneurs or companies incur for growth, start-ups, expansion etc. Many financial lenders do a thorough check of the viability of the business before approving a business loan. In such cases, presenting long term plans, balance sheets, company vision etc. provide a good base for loan approvals.

BUSINESS LOAN ELIGIBILITY

Loan eligibility for business varies on several factors. The ability to repay the role needs to be verified with the financial institution through profitability, statements etc.The secured Business Loan is granted against collateral like property, gold etc. while the unsecured business loan requires no such validation, however turns out to be more expensive than the secured business loan.
Taking a business loan is a good option for self employed persons; Finance is available from leading Banks without giving a co-lateral. Purely on the basis of your income, documents & profile. Unsecured loans available to Self Employed Customers.
Loan Amount ranging from 5 lacs to 200 lacs.
Tenure up to 60 months. (Can be used for Business or personal Use)

TYPES OF BUSINESS LOAN

  • Loans Based on Profit
  • Loans Based on Turnover
  • Loans on EDC Swipes
  • Loans on Used Cars
  • Loans on Professional Receipt

REPAYMENT,FEES & CHARGES

Business loans are usually sanctioned for a fixed tenure of upto 60 months. Sometimes, it may involve a revolving line of credit or in the form of an overdraft. Another type, is a top up on your existing loan to get an additional amount /for an easy EMI.
As a standard practice a fee up to 2.50% is charged of the total loan amount.

DOCUMENTS REQUIRED

  1. Dully filled and complaint Application form
  2. Self-attested copy of KYC Documents (Pan Card, proof of identity, residential proof etc.)
  3. Bank Statements for the past 6 months
  4. Financials – Balance sheet of the company
  5. Proof of continuation (ITR/Trade license /Establishment /Sales Tax certificate)
  1. Latest ITR along with computation of income, Balance sheet and Profit & Loss a/c for the last 2 years. Financial should be CA Certified /Audited.
  2. Other Mandatory Documents (Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)

APPLY FOR BUSINESS LOAN

Occupation
Company Name
Monthly Income
Loan Amount:
Existing EMI (If any)
Name
Email
Mobile
Date of Birth