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Business loan as the name suggests is a type of loan offered by banks, NBFCs, and other financial institutions to help small and large businesses grow. These loans are specifically intended for business purposes. Business loans are also available for start-ups and given for planned expenses. Not all businesses make enough profit to keep growing their business while meeting all the expenses. This is why loans for businesses are there and they can thrive with much more confidence. Both secured and unsecured business loans can be availed by meeting criteria set by banks andNBFCs.
Age Limit | The applicant should be min 21 years & max. 70 years |
Income | Business should be profit making at least for the past 3 years and profit
should be 10, 00, 000 p.a |
Type of the Business | Proprietorship, Partnership, Pvt. Ltd. |
If want to apply for a Bussiness Loan, you must have the following document.
Your entire borrowing process simple and user friendly You can get your loan funded in as little as 48 hours
We will customize a loan based on the amount of cash your company need term length
We will customize a loan based on the amount of cash your company need term length
We will customize a loan based on the amount of cash your company need term length
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Get answers to some of the common Business Loan questions that people ask and know better.
Business is given to both professional and non-professional self-employed. However, the eligible segments may include partnership firms, sole proprietorships, trusts, societies, private and public
limited companies, hospitals, pathology labs, nursing homes, and diagnostic centers.
Certain factors are considered before sanctioning a business loan including credit score, business turnover, net profit after tax, financial records of at least the last 2 years, and DSCR. Some extra documents may also be asked for by banks.
Some banks offer part payment for a business loan and some do not. However, those who accept may have criteria of how many times you can pay partly in a year along with part-payment charges.
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