Business Loan

Documents Required

1. ID Proof
2. Address Proof
3. Proof of Continuity Of Business
4. Bank Statement 6 Months
5. Experience: 5 years (for qualification like MD, DM, CH, MCH, MDS, MS) and 7 years (for MBBS, BDS). Experience period will be counted after the internship of any course.
6. Board Resolution (If pvt ltd co. is co-borrower/Partnership Authorization Letter {if partnership firm is co-borrower}
7. ITR & Statement Of Computation of Income – for last 2 Years
8. CA Certified or Audited P/L Acc Statement and for >40 Lacs cases Audit report along with schedules of P&L and Balance Sheet – for last 2 years
9. Latest ITR of Co-Applicants – For last 2 Years
10. Highest Professional Degree for the Qualification Proof
11. Ownership Proof of Residence or Office

Eligibility Criteria

Who is Eligible for business loan ?

Any person who is running a legitimate business with good earnings can go for a business loan. Banks have certain criteria to validate on how much and whom to give. This is on the basis on.

1. Type of the business- ie Proprietorship, Partnership, Pvt Ltd or Public Ltd.
2. Turnover of the business.
3. Profit of the business.
4. Cash flow of the business.
5. Track record and type of business.