OVERVIEW | FEATURES | ELIGIBILITY | DOCUMENTS | EMI CALCULATOR | FAQ`s
Features and Benefits of our Business Loans
Term Loans
Working Capital Loans
Business Expansion Loans
Equipment Financing Loans
Invoice Financing & Bill Discounting
Machinery Loans
Eligibility Criteria & Eligible Entities
Business Type: Most lenders provide loans to various types of businesses, including sole proprietorships, partnerships, limited liability companies (LLCs), corporations, and more.
Business Type: Most lenders provide loans to various types of businesses, including sole proprietorships, partnerships, limited liability companies (LLCs), corporations, and more.
Credit Score: A good credit score is often required to qualify for a business loan. Lenders use your credit history to assess your ability to repay the loan.
Business Age: Some lenders require a minimum operational history for your business, usually ranging from a few months to a year or more.
Annual Revenue: Lenders may have a minimum annual revenue requirement to ensure your business has a stable income.
Collateral: Secured loans might require assets as collateral to secure the loan. Collateral can be real estate, equipment, inventory, or other valuable assets.
Cash Flow: Lenders often evaluate your business’s cash flow to determine your ability to repay the loan.
Age Criteria: Min. 21 years at the time of loan application & Max. 65 years at the time of loan maturity.
Eligible Entities: Individuals, MSMEs, Sole Proprietorships, Partnership Firms, Public and Private Limited Companies, Limited Liability Partnerships, retailers, traders, manufacturers, and other non-farm income-generating business entities engaged only in the services, trading, and manufacturing sectors
Business Vintage : Min. 1 year or above
Business experience: Min. 1 year, business location to remain same
Annual Turnover: Shall be defined by the Bank/NBFC
Credit Score: 700 or above (Preferred by most private and public sector banks)
Nationality: Indian citizens
Nationality: Indian citizens
Additional Criteria: Applicants must own either a residence, office, shop, or Godown.
Documentation for Business Loans
The list of documents required for a business loan to be submitted varies based on type of business entity. Submit the following documents to begin with the loan process:
ITR for the past 2-3 years
Current Bank Account Statement for the last 12 months
Photocopy of PAN Card
Address Proof for Residence such as Voter Card, Passport, Aadhaar Card, Telephone Bill, Electricity Bill
Address proof for Business such as the Telephone Bill or Electricity Bill
Last Financial Year’s provisional Financials and future year’s projections.
Company’s business profile on the letterhead
2 photographs of promoters and property owners.
Sanction letter and Repayment schedule of existing loan
GST registration certificate and GST returns of latest 2 years.
D-Vat/Sale tax registration copy
Udhayam Aadhaar registration certificate
Rent agreement copy of factory and residence (if property is rented)
Business Continuity proof of 3 years (3 years old ITR/Company registration etc)
Company PAN Card, Certificate of Incorporation, MOA, AOA, List of Directors, and Shareholding pattern for Pvt Ltd companies
Partnership Deed, Company pan Card for Partnership Companies
Fuel Credit Cards How to use Business Loan EMI Calculator
Using a business loan EMI (Equated Monthly Installment) calculator can help you estimate your monthly loan repayment amount.
Confirm with the lender before finalizing.
Enter loan amount, interest rate, tenure.
Click Calculate.
View EMI, total interest, repayment.
Adjust tenure if needed.
Consider extra costs.
Check budget compatibility.
Fees and Charges for Business Loan
The fees and charges of business loans usually vary from lender to lender and from case to case. The aforementioned table will give you a fair idea of the fees and charges related to business loans: