Who Can Apply ?

Loan Term ?

Maximum Loan Amount

Business Loans can be applied by freelancers self-employed individual’s professionals ,Proprietorships Firm, Private limited companies, partnership firms, Manufacturing or Trading Services and LLP business Firms who doesn’t have any securities to offer

The borrowing business firm should have a working profit from at least last 6 months or 1 year at the time of applying for a Business Loan.

The age of the borrower should be between 25-65 years.

The Minimum Term for Business Loan is 6 months

Maximum term is 60 Months

The business should have a minimum turnover of 40 lakhs INR.

Generally Loan Tenor for Business loan can be 12 months to 5 Years and above

For Minimum Loan for business loan can be 2 Lacks

You will be Eligible to 10% to 15% of your Firm/company annual gross sales/Turnover-

Maximum Loan amount for business loan can be 25 Lacks Depending on your Income and Good will in the market

Higher the Loan Amount the Lower the Interest rate will be applied on Business loan

Processing Fess depend upon the Banks and Financials Eligibility Criteria

(In exceptional cases customers can get upto100% of agreement value), for details apply for a Home Loan Now

Business Loan

Types of Business Loan

Term Loan

If the Applicant want to buy assets like building, land, machinery or any other long terms they should apply for term loan. Term Loans can finance building, land, infrastructure, and renovation, purchase of machinery, equipment, and vehicles.

Repayment schedule of a term loan is fixes which can be monthly or quarterly, Term Loan has fixed or Floating Rate of Interest. the maximum tenure for a term loan is 3 years (in case of unsecured loan) and 15 years (in case of secured loan).The Tenure Rate of interest or Amount of the loan may change and depend according to the borrower’s/Applicant need and eligibility.

Loan against Securities

If the Applicant/Borrower has invested in any financial security like mutual funds, demat shares, fixed Deposit, insurance policies, Stock exchange traded funds, and bonds, you can get loan against those to meet your business fund needs. Tenure of such loans is 12 months.

CC and OD Facility

Cash credit loans are granted as overdrafts on the security of you can secure cash credit facility by pledging your business assets.  Limit on cash credit withdrawal is 70-80% on your drawing power. Lenders always ensure that the balance outstanding is lesser than the drawing power of the borrower. The tenure for this loan is renewed every 12 months. This facility is suitable for financing your working capital needs like inventory and receivables.

Bank overdraft is a facility wherein the bank allows you to debit your current account below zero, up to a specified limit. The overdraft limit is predefined by the bank Interest is charged only on the amount utilized. The bank has right to ask for repaying the money at short notice.

Benefits of a Business Loan

  • The fund obtained from business loan can be used for any business-purpose dependingupon your and business requirement
  • Lower-interest rates, compared to other loan products
  • Easy repayment options, as fixed monthly EMIs
  • No need for submitting collateral
  • Helps your business gain an edge over your competitors
  • Fast processing
Process
Identity Proof of Director/owner
Identity Proof of Director/owner
  • PAN Card
  • Aadhaar Card
  • Passport

KYC of Firm/Company

  • Pan Card of Company
  • Telephone Bill / Electricity Bill
  • Lease agreement
  • GST Certificate
  • MSME Certificate
KYC of Firm/Company
Bank statements
Bank statements
  • 12 Months Latest Current Account Statements (Company)
  • 12 Months Latest Saving Account Statements (Individual//Partners/Directors)
Income Statements
  • Form 16- Latest 3 years for Individual/Partners/Directors
  • Form 26As- Latest 3 years for Individual/Partners/Directors
Income Statements
Financial Documents
Financial Documents

Latest CA Certificated ITRs Along with Computation of Income, Balance Sheet, Profit and Loss statements For Company -3 years

Other Documents
  • Cibil
  • 2 Passport size Photograph
  • Filled Application Form
  • PF Cheque
  • Business Ownership Proof
  • Certified true copy of Memorandum & Articles of Association
  • Proof of Business Continuation
Other Documents
Account Payable

Accounts Payable

Accounts payable is money that is owed/outstanding by a business to its suppliers/clients/customers/vendors which is shown as Liability on a company's balance sheet and accounts

Account Receivable

Accounts Receivable

Accounts receivable is money which a business or a company can claim in return of goods and services offered by them. It can be claimed in form of bills, Invoices, challans etc., It directly or indirectly brings funds/ revenue in the business

Net Income

Net Income

In a business net income is stated as probability of the company It is an income considered after minus cost of goods sold, expenses, depreciation interest, and taxes for the accounting period  For a company it  is the Balance/ final amount of earnings after all expenses have been deducted from sales It is the final amount of profit or loss after all expenses are included.

Collateral

Collateral

Collateral is a borrower's pledge of a property to a lending Institute as a secure repayment of the loan borrowed, Collateral is something you own and bank can take if you fail to pay off your debt or loan.

Overdraft Account

Overdraft Account

An overdraft account  is extension of credit from a lending institution/Banks/NBFCs which can be given to a customer when an account reaches zero, overdraft means that the bank allows customers to borrow a set amount of money.  Interest is not charged until you actually withdraw the amount