What is a Business Loan?
A business loan is financial assistance provided to entrepreneurs to start or expand their business. It can be used for various purposes like purchasing equipment, inventory, or working capital.
Types of Business Loans
1. Term Loan
A fixed amount borrowed for a specific period with regular EMI payments.
2. Working Capital Loan
Short-term loan for day-to-day operational expenses.
3. Equipment Financing
Loan specifically for purchasing machinery and equipment.
Eligibility for Business Loans
- Business Age: Minimum 2 years
- Annual Turnover: Minimum ₹50 Lakhs
- CIBIL Score: Minimum 750
- Collateral: Usually required
Required Documents
- Business Registration Certificate
- ITR (Last 2 years)
- Business Plan
- Property Documents (Collateral)
- Bank Statements (Last 12 months)
How to Apply
Apply online through our platform, submit documents, and get approval in 5-7 business days.