Each business is unique & have specific requirements. Business loan is offered by various banks & financial institutions across the country are customized & customer centric. These are made to offer the business owners with the wide array of financing alternatives.
The small business loan is safest & easiest option to appropriately finance the business objectives. Banks & financial institutions offer tailor made loans based on nature, scope & goal of the requirements.
Business Loan is one the great way to increase financing towards various business needs. There are many banks that offer loan upto 30 lakhs with and without collateral with pre-approved offers. It is the money that is credited to your account with certain percentage of interest and fixed tenure for repayment. This amount can be used for expansion of existing business or the start a business from the scratch. According to the needs of the business, the loan amount will be approved by each bank.
Apply for loanBusiness Loan is one the great way to increase financing towards various business needs.
The followings are the ways a business loan can be benefitted:
To qualify for a business loan, you have to meet certain criteria. Below are the important factors that lenders take into consideration to decide your eligibility for a business loan.
Most lenders provide loans to various types of businesses, including sole proprietorships, partnerships, limited liability companies (LLCs), corporations, and more.
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.
Some lenders require a minimum operational history for your business, usually ranging from a few months to a year or more.
Lenders may have a minimum annual revenue requirement to ensure your business has a stable income.
Min. 21 years at the time of loan application & Max. 65 years at the time of loan maturity.
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
Min. 1 year or above
Min. 1 year, business location to remain same
Shall be defined by the Bank/NBFC
700 or above (Preferred by most private and public sector banks)
Indian citizens
Applicants must own either a residence, office, shop, or Godown.
Below is some of the basic documents which are required at the time of Business Loan
If you have a question that deals with clients, customers or the public in general, then have a look at some of the basic FAQs.
A business loan is money borrowed from a bank or lender to support business-related expenses, such as expansion, equipment purchase, working capital, or other operational needs. The borrowed amount is repaid over time with interest.
There are various types of business loans, including term loans, lines of credit, equipment financing, SBA loans, invoice financing, and merchant cash advances, each designed to meet specific business needs.
Qualification criteria vary but often include factors like your business's creditworthiness, financial stability, time in business, revenue, and the purpose of the loan.
Loan amounts depend on factors like your business's financial health, the lender's policies, and the type of loan. Lenders typically consider your business's revenue and ability to repay.
We can take the loan amount between 1 lakhs -1cr.