Documents Required For Business Loan
Documents Required For Business Loan
Most of the banks, Non-Banking Financial Companies (NBFCs), and financial institutions provide business loan in India. In order to obtain a documents required for...
business loan, as a borrower, you should qualify for the basic eligibility and submit the mandatory documents to the lending institution.
Entities that are eligible for this loan are Self-employed professionals, individuals, SMEs, self-employed individuals, MSMEs, etc.
Our loan for SME in India are designed to meet the ever-growing aspirations of business loan owners, and to become their preferred financial service provider of choice.
Given below are some documents that are required for applying for a business loan:
Documents required – business loan
For identity proof (anyone)
2 passport-sized photographs
Aadhar card
Voter ID Card
Passport
PAN Card
Driving license
For address proof (anyone)
Aadhaar Card
Driving License
Electricity Bill
Rent/Lease Agreement
Voter ID
PAN Card
Utility Bill
For Income proof
Latest Income Tax Return with computation of income (if filed).
Bank statement for last 6 months.
Balance sheet
The last 2-year profit and loss statements should be audited by registered Chartered Accountants.
Copy of proof of continuation (anyone)
Proof of establishment
Trade License
Income Tax Return
Sales tax certificate
Company address proof and identity proof
Board resolution’
Certificate of incorporation
Articles of Association and Memorandum of Association.
Other important documents
Copy of certified partnership deed
Sole proprietorship
Copy of GST registration
Property documents with sanction map and Chain.
Steps to apply for a Small Business Loan
Online process:
Most of the lenders offer online application facility, that gives complete flexibility of application applying online from respective lender’s website.
Click the apply now button to start the process by filling up required details including applicant profile as well as company details.
After that you will be allowed to download the application form, once filled submit the same.
Within a short span of time, the lender will review your application and if satisfied with your profile, they will process further formalities.
The loan will be approved, and the loan amount will be disbursed within a few days.
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