Documents Requireds for Business Loans
Documents Requireds for Business Loans
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Documents Requireds for Business Loans

Documents Required for Business Loan

A Business Loan is also called commercial loan. It is an unsecured loan if an applicant wants to start a documents required for business loan or enlarge an existing business, they can opt for a business loan. It is provided by the Banks, financial institutions, or NBFCs to meet the needs for firms' financial requirements. The borrower can get loan amount up to Rs. 2 crores on business loan at a lower interest rate of 14.00% onwards of a maximum tenure of repayment of principal amount of 7 years.

Documents required for partnership firm:

  • 2 Passport-sized photographs of both partners.
  • Copy of clear PAN Card proprietor  
  • Address proof of proprietor – Voter ID Card and Passport  
  • ITR with computation of income, balance sheet, tax audit, profit & loss A/C, all scheduled and annexure of firms 3 years.
  • For Office address proof – recent telephone bill and electricity bill.
  • Copy of GST registration and firm registration certificates
  • Copy of GST return for last 1 year.
  • Provisional financial year.
  • Updated last 1 year bank statements (overdraft account, current account, cash credit account)
  • Updated statement of saving account of 6 months (proprietor)
  • Repayment schedule and sanction letter if running any existing loan
  • Complete property documents with chain sanction map.