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Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
There is a loan for your every need! Know the right one with a single click.
Business Loan

Lack of funds should never come in the way of your dreams. Business loan gives you the extended support necessary to smoothly carry out your business operations without any collateral.

Whether you want to start a new firm or expand the existing one, business loan helps in a variety of purposes. It can also help in the need for working capital, fixed assets, infrastructure, equipments etc. Corporate loan is extended to sole proprietorship, partnership firm, private limited company or public limited company.

Key Features

Below are some of the key features of business loan

  • Business loan have to be repaid with an added interest after a specified period of time
  • No guarantors or collateral is required against loan for business
  • Secured business loans have lower interest rates as compared to unsecured loans
  • Business finance offers flexible repayment options to the borrower
  • The loan amount and the interest rate depend on factors such as profit, cash flow, track record, credit score, tenure of business, etc
Eligibility Criteria

The eligibility criteria for a business loan approval varies from bank to bank. However, these are the few criteria in general

  • You must be a self-employed individual
  • Company must be Limited or a Pvt. Limited
  • Expected age: 21 to 65 years
  • Your business must atleast be 3 years old
  • You must show a profitable business turnover for last 2 years
Documentation

Please see the provisional documentation required for loan application

  • Age Proof
  • Identity Proof
  • Address Proof
  • Income Proof: Income Tax statements of last 3 years along with computaton of income with profit & loss statement for last 2 years
  • Bank account statements
  • Proof of business existence
  • Proof of ownership of the possessions which are used for business purposes
  • KYC documents of co-applicant
How to Apply

Steps to apply for a SME loan, MSME loan or other business loan

  • Before applying for a loan, have a clear personal credit history, business credit history and good credit score
  • A credit score between 700-900 points is considered favourable
  • Banks analyze your financial background, education, liabilities and business plan
  • Having insurance for your business property and equipments along with SWOT Analysis is beneficial
  • Accurate estimation of loan amount required with supported financial statements will increase your credibility from lender’s viewpoint
  • You have to submit all the relevant documents required for the business loan
  • After verification of the documents, loan will be disbursed
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List of Personal Loan providers in India

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