Planning to get started with a new business venture? Or really want to get your office interior done right or make an investment to expand your trade. Don’t you worry, as we have come up with a perfect funding option of Business loan to make things go easy for you. A business loan is unsecured funding that you can easily avail without showing up any collateral. This type of financial help can easily be acquired by SMEs to get credit for short term funding purposes.
These are provided by various banks and NBFCs. Taking up a business loan is a great step towards extending or taking forward your business. They are usually ideal for meeting your short term financial needs like unexpected expenses, dream holiday, home improvement expenses, etc.
The illustration below indicates what to expect at every step during the loan evaluation process. It helps understand how the credit decisioning works in banks and the steps they take before deciding to accept or reject a loan/ credit card.
Fill in the Business Loan Application Form, to check your eligibility.
Compare various business loan options, and apply for the suitable option.
Get an instant e-approval, after successful submission of the application.
1. Proof of Business - Shop and Establishment Certificate/ Vat Registration Certificate/ Service Tax Certificate.
2. Last 3 years IT tax returns with profit and loss account and balance sheet duly audited by CA.
3. Business profile on the letterhead of the company.
4. ID/ Age Proof - PAN Card, Passport, voter id, postpaid bill, Aadhar Card, account statement, DL
5. Residence Proof – Passport
6. last 6 months Bank Statements till date
7. Utility bills/ ownership proof
8. Cheque (4)
1. Age proof of all the partners in the form of PAN Card, Passport or Aadar Card.
2. PAN Card of the company.
3. Residence proof of all the partners – Utility Bills/ Passport/Bank statement/ Registered rent agreement.
4. Proof of Business - Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificate.
5. Latest 3 years Income Tax returns with profit and loss and balance sheet duly audited by CA.
6. Latest 12 months bank statement of the Company and of the Partners’ Savings Bank Account.
7. Existing Loans' Sanction letters accompanied with repayment track.
8. Business profile on the letterhead of the company.
9. ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statements.
10. Cheque of Processing Fee.
1. Application form duly filled with photographs of directors.
2. Age Proof of Directors - PAN Card, Aadhar Card, passport.
3. Residence Proof of Directors - Utility Bills/ Passport/Bank statement/ Registered rent agreement.
4. PAN Card of Company.
5. Education Qualification - A professional qualification certificate in case of Doctors/CA/Architects.
6. Proof of Business - Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificate.
7. MOA, AOA, List Of Directors, Share Holding Pattern of the Company.
8. Last 3 years IT returns with Profit and Loss account and balance sheet duly audited by CA.
9. Latest 12 months bank statement of Company of all current accounts and the same for Director’s Savings Bank Account.
10. Existing Loans’ sanction letter with repayment track of company and Individual Directors.
11. Business Profile on the Letter Head of the Company.
12. ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statements.
13. Cheque of Processing Fee.
1. Occupancy Certificate.
2. Approved Plan of building.
3. Share certificate copy.
4. Past 13 years Chain of deeds.
5. Nil Encumbrance Certificate - EC (if applicable).
6. Current Sale agreement/ Draft Agreement to sell.
Your eligibility for Business Loan is determined by the following factors:-
Income/ Other Income
Age
Qualification
Property value
No of dependents
Bank Balance
Assets/Liabilities
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