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Thread: Need Business Loan

  1. #1
    NewBie
    Join Date
    Jul 2013
    Location
    Mumbai
    Posts
    4

    Default Need Business Loan

    I want to apply for business loan. Which banks in India offer business loan and what are loan eligibility.




  2. #2
    PW Stalwart
    Join Date
    Apr 2009
    Location
    Chennai
    Posts
    254

    Default

    Almost all banks offer business loans.

    Documents Required for Loan:
    For Self Employed Persons following documents required such as -
    1- Tax return documents,
    2- Balance Sheet / Profit Loss Statement of the firm he owns may be required.

    Source - PW.com
    You will pick up maximum wrong numbers when on roaming.

  3. #3
    PW Stalwart Master's Avatar
    Join Date
    Feb 2009
    Location
    Mumbai
    Posts
    438

    Default

    You also need to submit following documents in addition to the above documents -
    1- Documents Required Proof of Identity (Passport Copy/ Voters ID card/ Driving Licence).
    2- Address Proof (Ration card Tel/elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate)
    3- Bank Statements (latest 6 months bank statement /passbook)

  4. #4
    NewBie
    Join Date
    May 2017
    Location
    Hyderabad
    Posts
    11

    Default

    Age Limit should be minimum 21 Yrs and Max. 65 yrs, Income: Business should be profit making at least for the past 2 years.

  5. #5
    Banned
    Join Date
    Jul 2019
    Location
    Hyderabad
    Posts
    76

    Default

    Generally when starting a business every individual will have a question where to get a loan and what is the eligibility.Generally all the well known banks offer business loans with different interest rates and based on their CIBIL scores also the interest rates are depended.The minimum age limit must be 21 years.The applier should be at least the age of 21 years at the time of applying for a business loan, and should be no older that 65 years at the maturity period of the loan.


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