Business Loan
Overview
A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. There are a number of different types of business loans, including bank loans, mezzanine financing, asset-based financing, invoice financing, microloans, business cash advances and cash flow loans
Eligibility
Business Loan Eligibility Criteria
The borrowers do not need any hefty eligibility criteria to avail a car loan. The minimum eligibility criteria are given below:
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The Applicant should be age between 21 to 60 years.
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The Applicant annual income should be minimum 3 lakh.
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The Applicant should be in Business for at least 3 years.
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The Applicant should be holding Bank Account at least for 12 months.
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The Applicant should be residing in current residence for at least 1 year with own house anywhere in India.
Documents
KYC
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Identity Proof - Pan Card, Valid Passport, Permanent Driving license, voters ID Card etc.
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Address Proof - Aadhar Card, Valid Passport, Light Bill, Rent Agreement, Company Letterhead.
Income Proof -
(Individuals Partners or Directors)
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Latest 3 months salary slip
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2 years Form 16
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Bank statement of the current 6 months
(Self Employed Individuals)
(Sole Proprietorship)
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​Latest 2 years Income Tax Returns (ITR)
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Bank statement of the latest 12 months
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Shop Act licence as a business proof
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GST Certificate if required as a business proof
Self Employed Individuals
(Partnership Firms)
All the following documents as income proof:
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Audited Balance Sheet
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Partnership deed
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Profit & Loss Account of the previous 2 years
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Company ITR for the previous 2 years
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​Shop & Establishment Act Certificate​​​​​
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GST Certificate
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Bank statement of the current 12 months​​​​​​​​​​​​​​​​​​​​​
Self Employed Individuals
(Private Limited Companies)
All the following documents as income proof:
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Audited Balance Sheet
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Company Incorporation as business proof
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MOA & AOA
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Profit & Loss Account of the previous 2 years
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Company ITR for the previous 2 years
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​Shop & Establishment Act Certificate
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GST Certificate
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Bank statement of the current 12 months
Self Employed Individuals
(Public Limited Companies)
All the following documents as income proof:
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Audited Balance Sheet
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Company incorporation as business proof
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MOA & AOA
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Profit & Loss Account of the previous 2 years​
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Any of the following documents as address proof:
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Telephone Bill
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Electricity Bill
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Shop & Establishment Act Certificate
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GST Certificate​​​​
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Bank statement of the current 12 months
Features & Benefits
Short time loan process
Minumul Documentation
Attractive Interest Rate
Flexible EMI Tenure
Loan Amount Up to 100%
100% security of
documentation
Customer Support
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