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Business Loan

Need funds to start a business or enhance its existing operations? Business loan is the best option which has wide choice of products ranging from unsecured loans to overdrafts, letters of credits and cash credits.

Any person who is running a legitimate business with good earnings can go for a business loan. Banks have certain criteria to validate on the eligibility based on

  • Type of the business
  • Turnover of the business
  • Profit & Cash flow of the business

Whether you are self-employed individual, a proprietor, a partner in a partnership firm or a director at a company, we have a product to suit your need. Apply now or Call us today to know more about Business loans and prevailing interest rates. Our expert consultants will tailor specific solutions to meet your needs and guide you through the complex process and make it absolutely hassle-free.

Eligibility

  • Self employed individual
  • Self employed professional like doctor, chartered accountant, etc.
  • Applicant should be above eighteen years
  • Applicant should have a good CIBIL credit score
  • Good repayment capacity with fixed & stable income source
  • Good financial stability no matter in which segment the applicant falls into.
  • Have good and stable company
  • Applicant should have a good stable bank account with prompt transactions.
  • Applicant should have stable residential proof.

Checklists

  • Identity, Residence & Age Proof
  • Passport size photographs
  • Vat registration copy
  • Company Profile
  • Last 3 years ITR with computation of Income
  • Last 3 years CA certified / Audited Balance Sheet and P&L account
  • Last 6 months bank statements
  • Working loan and limit details with sanction letter
  • Pan card copy of Applicant (for Self employed Proprietor)/ Pan card copy of Company and Partners (for Self employed Partnership) / Pan card copy of Company and Directors (for Self employed Pvt Ltd)
  • Proof of Business existence (for Self employed Proprietor) / Partnership deed copy (for Self employed Partnership) / MOA (for Self employed Pvt Ltd)

Benefits

  • Wide range of products to choose.
  • Compare interest rates and features of various banks or FIs
  • Help to calculate your EMI and Eligibility.
  • Expert consultant’s advice on your needs and suitability.
  • No extra charges, fees or commission.
  • Simple procedure with minimal documentation and quick processing.

FAQs

1.Who is Eligible for business loan ?

Any person who is running a legitimate business with good earnings can go for a business loan. Banks have certain criteria to validate on how much and whom to give. This is on the basis on.

2.Type of the business­ Ie Proprietorship, Partnership, Pvt Ltd or Public Ltd.

Turnover of the business.

Profit of the business.

Cash flow of the business.

Track record and type of business.

3.How much Business loan I can get

Based on the profit and years of business and cash flow­ Banks come out with eligibility of the loan amount it can give to business. This is based on how much profit he is making and how he can manage to pay the emi with the cash flow.

4.Who can give me business loan

There are various Banks that can give me loan.

The lists are as follows:

HDFC Bank

ING Vysya Bank

Bajaj Finserv

ICICI Bank

Standard Chartered Bank

Fullerton India

5.How to compare business loans.

Compare per month Emi of Banks.

The processing fee

The prepayment Charges

If You want to pay the loan in the tenure then sum of 1 & 2 whoever is lowest, take the loan from that Bank.

If you think you might have cash flow and can pay earlier, then also check the prepayment charges.

6.Documents Required for business loan.

ID Proof

Address Proof

Proof of Continuity Of Business

Bank Statement 6 Months

Board Resolution (If pvt ltd co. is co­borrower/Partnership Authorization Letter {if partnership firm is co­borrower}

ITR & Statement Of Computation of Income – for last 2 Years

CA Certified or Audited P/L Acc Statement and for >40 Lacs cases Audit report along with schedules of P&L and Balance Sheet – for last 2 years

Latest ITR of Co­Applicants – For last 2 Years

Ownership Proof of Residence or Office

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Indian NRI