Business Loan
Business Loan is a loan product offered to business owners who have a running company but require external funds for operations. The investment cover expenses such as employee salaries, rent, buying equipment, or expanding the business in other cities.
Eligibility criteria
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.