Fulfil all your business goals, Get exclusive Business Loan offers waiting for you
What is Business Loan ?
Volatile market trends and increasing business needs cause demand for urgent immediate cash-in-hand. A Business Loan designed for this purpose gives you the advantage to avail unsecured credit at competitive interest rates.
Whether you plan to invest in infrastructure investment or upgrade plant and machinery, a Business Loan caters to all your commercial needs.
Different Types of Business Loan for Your Various Needs
How to Apply for a Business Loan?
Features & Benefits of Business Loan
Fees and Charges for Business Loan
You should be ready to pay the processing fees for your housing loan. Some banks charge less processing fees, but may make up for that somewhere else. On the other hand, some banks and financial institutions consolidate their charges and include them in the processing fees. Let us look at some common charges you will most likely incur when you apply for home loan.
Business Loan Eligibility
Various factors go into the determination of your Loan eligibility. The basic rules for salaried people and self-employed people are the same. Some banks stipulate a higher take-home pay percentage for self-employed persons
- Minimum 3 years Own Business Vintage
- Minimum Annual Turnover and Profit at Lender’s Discretion
- Registered Chartered Accountant Audited Balance Sheet Compulsory
- No Previous Default with any Financial Institution
Business Loan Documents Required
Every customer has to satisfy the Know Your Customer (KYC) norms stipulated by RBI. You have to provide the documents relating to your KYC, employment, business, and income
- PAN Card
- Aadhar Card
- Voter ID
- Driving License
- Registered Rent agreement
- Aadhar Card
- Driving License
- Lease agreement
- Latest Gas or electricity bill
- Loan application form duly filled in
- Signature Proof
Proof of Business
- GST Registration Certificate
- Trade License Partnership Deed
- Article of Association
- Memorandum of Association
- Import Export Code
- Registration Certificate
- Professional Practice License for Doctors, Consultants, etc
- Registration Certificate of Establishment for Shops, Factories, and Other Establishments
- Business Address Proof
Income Proof – Financial Statement Audited by CA
- Profit and Loss Account Statement
- Balance Sheet
- 6 Months Bank Statements
- 3 years Income Tax Returns
- 3 years Income Tax Returns or Assessment Orders
- Advance Income Tax Paid
Business Loan EMI Calculator
When you decide to apply for a Business Loan, you need to assess your repayment capability so that you don’t end up in any financial problems and can find the cheapest Business Loan. Business Loan EMI Calculator is a useful tool in this regard for calculating the EMI (equated monthly instalment) of a Business Loan. It is a free of cost user-friendly tool that can be used anytime and from anywhere to calculate the monthly instalments you will have to pay. The Business Loan EMI Calculator requires you to enter a few Business Loan details to give you an accurate result, such as loan amount, interest rate, and repayment tenure.
Business Loan News & Blogs
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