Features and Benefits of business Loan

• The funds can be only used for business related purposes.
• The tenure is between 1 Year and 5 years.
• There are suitable loan amounts available for small and medium sized enterprises as well, besides large-scaled businesses.
• We offer easy and simple online application and paperless process for business loan India.
• Interest rate depends on your profile and other factors, but starts at 13%.
• You can have co-applicants for the loan to improve your chances of getting the loan approved.
• This loan can have co-applicants, which can help raise the approval chance for the loan.

Business Loan Eligibility Requirements

Everyone who meet the five basic criteria below are eligible for business loan

• Nationality should be Indian.
• Minimum age: 24 years and Maximum age: 70 years
• Business vintage should be 1 year or above.
• CIBIL score should be 750 or above.
• Business must be profitable for the past 2 years.
• Additional criteria: The applicant must own a residence, shop, office or godown.

Documents required

Below are the documents required for completing your application process

• KYC documents (Aadhar card / Voter’s ID / Passport / PAN card).
• Proof of business ownership (Trade licence/ITR/Establishment/Sales tax certificate).
• Income proof (ITRs and computation/ balance sheet (audited by a registered CA)/ P/L.
• Profit/Loss statement for the past two years).
• Last 6 months bank statement.