Business Loan
Sat, 24 Aug 2024
BUSINESS LOAN-
A Business Loan is a type of loan specifically designed for business purposes, such as expansion, working capital, or equipment purchases. Here's an overview:
PURPOSE:
1. Business expansion
2. Working capital
3. Equipment purchases
4. Debt consolidation
5. Marketing and advertising
BENEFIT:
1. Easy access to credit
2. Flexible repayment options
3. Competitive interest rates
4. Opportunity to grow and expand business
Documents Required-
Business registration documents:
- Company registration certificate
- Partnership deed (if applicable)
- Sole proprietorship declaration (if applicable)
Business plan and financial statements:
- Business plan.
- Balance sheet.
- Profit and loss statement.
- Cash flow statement
Identity and address proof:
- PAN card.
- Aadhaar card.
- Passport.
- Utility bills.
Statements :
- Bank Statement.
- Income Tax Statement.
- GST Filling statement.
Collateral documents (if applicable):
- Property documents.
- Machinery or equipment details.
Other Documents :
- GST registration certificate (if applicable).
- Trade licenses (if applicable).
- Partnership deed or MOA/AOA.
- MSME & Form C Certificate.
Loan Powerful Features -
Loan Amount:
Varies based on lender, loan term, and credit score.
Interest Rate:
Varies based on lender, loan term, and credit score.
Loan tenure:
Typically, 3-7 years.
Repayment:
Monthly installments (EMIs).
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