Grow your small firm or large-scale company with business loans. There are phases in a business cycle when you seek financial avenues to fuel the growth of your small or medium level enterprise. Quite often your business needs that extra push to take it to a new level of development. These funds help you, the business owner, to expand, invest and help in your working capital needs. At these times Business Loan is the best financial aid which helps the business to grow.
This borrowed capital can be applied towards daily capital expenses, for specific project funding, expansion of the business including purchasing of new machinery for the business. You can also apply to take a loan for business if you need investment for starting a new business or ancillary units for your existing business.
Any business with a track record of more than two years can apply for a business loan. The purpose of the loan should be clear before applying for the business loan. Here’s a list of the basic documentation you will need to submit.
Company bank statements for last one year
ITR for last 3 years, and in case the current year ITR has not filed then the provisional documents for the same.
Balance sheet and P&L accounts for 3 years
KYC documents of the company including PAN Card, Registration of Incorporation, Partnership deed, Memorandum & Articles of Association.
KYC documents of the owners
A report as to how the business loan intends to be utilized.
- You can use the funds for any immediate requirement you may face including your daily capital needs.
- Unlike investments from private equity firms or entities, there is no need for profit sharing
- Business loans can also help in tax benefits for the company
- You also have the option of opting for Flexi EMIs, where you can control the outflow of repayment
- There is no need for any collateral or guarantee for business loans for up to Rs 50 lakhs.
- Faster Processing
- Complete Processing
- Competitive Pricing
The option of choosing the best Financial Institution depending upon your eligibility and your requirements.