About Business Loan
Managing finance is unarguably the most important component of any business. A business owner needs money to grow/expand his business and to meet his working capital requirements. You can manage your funds for meeting business requirements by taking a business loan.
Business Loan is a loan which is used primarily in business activities and has to be repaid over a specific period of time.
It helps the business owner overcome short term and long term financial hurdles.
- All legitimate business owners including manufacturer, service provider, retailer, wholesaler, trader engaged in imports/exports etc that are doing the same business from last three years are eligible to take business loan.
- Business Organization may be a Sole Proprietorship Firm, Partnership Firm, Private Limited Company or a Public Limited Company.
- Loan Amount: From Rs. 50000 to Rs. 50 lakhs.
- Age: Between 21 years to 65 years.
- Tenure of loan: Up to 5 years
- PAN Card (for company/ firm/ individual).
- Identity Proof ( Aadhar card, driving license/passport/voter ID)
- Address Proof ( Aadhar card, driving license/passport/voter ID)
- Bank statement of previous six months.
- Latest ITR along with computation of income, Balance sheet and Profit & Loss account for the previous two years certified/ audited by CA.
- Proof of continuation (ITR/ Trade license/Establishment certificate etc).
- GST returns for current financial year.
- Other mandatory documents.