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BUSINESS LOAN

Business loans are provided by various banks to business people for their short or long term financial needs. A lot of times it is important for businessmen to acquire a certain amount of money for running their enterprise. It is well known that without the required capital no business can run. For any business whether in initial stage or in growth phase, capital is required to keep up the momentum.

Banks and other financial institutions offer business loans for expanding, modernizing or improving small, medium or large scale businesses. Banks often offer loans that are either secured loans and unsecured loans. A secured business loan means that the businessman keeps something as collateral against the loan amount taken. Collateral can vary depending on various factors. It can be anything from raw material to finished products, land or even the building of the business. In secured business loans the interest rates are comparatively low and they have much more flexible repayment options.

Secured loans are long-term loans that can be given to business owners that are well established and wish to increase their fixed assets or expand their business. Long-term loans can also be provided to start-up businesses, usually for purchases of land or buildings, construction efforts, and long-term working capital. These loans have terms that run 3-5 years.

On the other hand, unsecured business loans do not require a collateral. It is often at a higher rate of interest and are taken for a comparatively smaller tenure. These short-term loans are usually used for short-term working capital for a business temporarily in need of cash. It is needed mostly due to seasonal fluctuations, and other short-term problems that a business may encounter. Before going for a business loan properly evaluate the situation. See how badly your need the money and when. You should evaluate how much loan you should take that you can easily repay later.

You need to provide proofs of your age, identity, residence address and income. The following list of documents can be used as proof.       Apply Business Loan Now

 
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Identity Proof

Passport / Driving License / PAN card / Voters Id

You will also need latest color passport size photographs to complete the identification requirements.

Address Proof

Passport / Telephone Bill (Land / Mobile) / Electricity bill / Rental agreement / Driving license / Bank Statement With Address page / HR Letter - (Accept Only for SUPER CAT- A) / Election ID card / Postal Id card / BB BILL / Ration Card / Gas Bill With Agreement Book / Photo-credit card (with last two month statements) / Life Insurance Premium receipt / Proof of Office for Self Employed (any one) Lease deed / Utility bill / Municipal Tax receipt / title deed.

Age Proof

PAN Card / Passport / Driving License / School leaving certificate / Birth Certificate

Income Proof / Processing Documents

2 Yrs IT Including TDS amount Mentioned -TDS certificate (Form 16 )

2 Yrs Individual I T of Major Partner

6 Months COMPANY'S Current Account Bank Statement

Loan Schedules

Business Continuity Proof

Partnership deed

Company Pan Card

Partner Pan Card

Partner's Own House Proof or Shop

KYC of All partners

MOA Memorandum of Article

Turn Over Min 40 Lakh

Net Profit Min 1.5 Lakh

Business Stability - 5 Years


The cash from your Credit & Debit card receivables, Loan Amount 1 L to 1 Cr , Tenure 90-180 days only Access fast and flexible ONLINE working capital loans, No Physical Documents !


Features:
  • Fully Online process, Minimum Vintage - 1 yr only
  • Loan tenure between 90-180 days
  • Daily payment
  • Loan amount from 1 Lac to 1 Crore
Very Few Simple Online Documents:
  • Bank statements of the last six months
  • KYC documents of the applicant and the organisation

Working Capital loans | Online Seller Finance | e-seller space | e-commerce | Small Business Loans | Easy loan options from your Credit Card or Debit card receivables


Eligibility
  • Applicants business must have minimum operational history of 1 year
  • Applicants partnership minimum vintage should be between 3-6 months
  • Minimum quarterly sales of 25,000

Loans for your day to day business needs working capital loan in chennai for new business
Features
  • Loan tenure between 90-180 days
  • Fortnightly repayment mode
  • Loan amount from 1 Lac to 1 Crore
  • Loan amount sanctioned can be up to 2 times of applicants monthly sales on marketplaces

Documents
  • Bank statements of the last six months
  • KYC documents of the Applicant and the Organisation
Minimum monthly card volume of 1,00,000 business must have minimum operational history of 1 year Merchant Cash Advance Businesses are actively using card payment machines to offer convenience to their customers. Apart from being integral to in-store sales, these devices can also help merchants like you acquire working capital to execute and expand business operations.

Eligibility
  • Applicants business must have minimum operational history of 1 year
  • Minimum turnover of 20,00,000
  • Minimum card acceptance vintage of 6 months
  • Minimum monthly card volume of 1,00,000
  • Minimum of six settlements per month

Features
Loan amount ranges from 1 Lac - 50 Lacs Loan tenure of 6 months to 1 year Loan amount limits 50% - 150% of applicants monthly card settlement Ideal for merchants with Consistent card settlements Short-term investment requirements Documents Applicants current accounts banking documents for last 12 months VAT returns for last six months prior to loan application Card settlement statements for 3 months prior to loan application. All acquirer banks, except American Express, are eligible. Promotors and the applicants KYC documents

Note:

1. CIBIL Score Check: You must know that your credit history play a very important role in the acceptance of your business loan application as CIBIL keeps a record of credit history by collecting your credit data from various financial institutions. A decent credit score not only gives a green signal to your loan application.

2. Increase your loan eligibility: You can increase your eligibility of the loan amount by clubbing your income with your spouse income.

3. INTERNAL relationship with bank will help you to reduce business loan interest rates.

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