Small Business Loan
Apply Online Click Here:- Small Business Loan
The borrower who wants to enlarge their Business Loan or finance a business plan can go for the business loan. It is provided by the Banks, Financial institutions, or NBFCs. A n applicant can get loan amount up to Rs. 5 crores for the business purpose with repayment tenure of maximum 36 months.
Interest rate for small business loan
Loan amount
Rs. 1 lakh – Rs. 5 crores
Rate of interest
14.50%
Loan tenure
Up to 36 months
Eligibility for small business loan
- The applicant must have the residence of India.
- Age of the borrower should be a minimum of 21 years.
- Balance sheet of the business must show in profit.
- Proof of IT return of last 3 financial years and sales turnover.
The borrower should be self-employed individual and have 3 years of business experience.
Documents required for small business loan
- Identity proof – Passport, Voter ID Card, Aadhar card, etc.
- Address proof - Voter ID Card, Passport, Utility bill, etc.
- Business proof – Trade license, Establishment license, etc
Bank statements of last 6 months.
Commercial Property Loan and house property documents for secured business loan.
Partnership deed, and sole proprietor deed, etc.
Balance sheet that shows profit and loss account of last 2 years and business income tax certificate which has to be certified by Chartered Accountant.
