Apply Business Loan online
Apply Business Loan online
How to get a business loan?
You can apply for a business loan through the visiting a bank branch or through a DSA. but, if you are looking for quick business loans without collateral, you can simply apply online at LoanMarkeet.com. You can compare interest rates of business loan online and also use LoanMarkeet.com Business Loan Eligibility Calculator to get a rough estimate of your business loan eligibility. Once you fill your basic personal, business and income details, you will get a call from LoanMarkeet.com representative's for business loan offers. LoanMarkeet.com representatives will coordinate with you and partner banks from beginning to end the loan process to ensure that you get quick and easy business loans with minimal paperwork
Purposes of a Business Loan ?
- To expand the business
- To start a new business
- To build credit for future requirements
- To purchase equipment for business
- To purchase more inventories
- To bring in fresh talents to the business
- Types of Business Loans
Business Loan Eligibility:
|
Parameters |
Business Loan Eligibility Criteria |
|
Eligible Entities |
Self employed non professionals – Sole proprietors, partnership firms, private limited companies, public limited companies involved in the business of manufacturing, trading and services (Self employed professionals- Doctors, Architects, CA ) |
|
Age |
21 - 60 years |
|
Loan Amount |
Rs. 100,000 to Rs. 100 Cr |
|
Interest Rate |
13.50% - 20.00% |
|
Loan Tenure |
Up to 5 years |
|
Business Vintage |
For self employed professional - 3 years |
|
Annual Turnover |
Rs. 1 Cr and above |
|
Banking Stability |
1 year and above |
|
CIBIL Score |
650 or above |
|
Other Eligibility Conditions |
Borrower should have a self owned house or work place |
Business Loan Rate of Interest:
|
Bank |
Interest Rates |
Processing Fee |
|
Yes Bank |
16.25% |
Up to 2% |
|
HDFC Bank Business Loan |
15.50% |
Starting from 0.99%, Max 2.50% |
|
Kotak Bank |
16.00% |
Upto 2% |
|
ICICI Bank |
15.50% |
Starting from 0.99%, Up to 2% |
|
Citibank |
15.99% |
Upto 2% |
|
Bajaj Finserv |
14.00% |
Upto 2% of loan amount |
|
RBL Bank |
20.00% |
3% of loan amount |
|
Capital First Business Loan |
16.00% |
1.99% |
|
Tata Capital |
13.50% |
From 1.50% to 2.50% |
|
Fullerton India |
16.00% |
2% |
|
IDBI Bank |
13.00% |
1% |
What Documents are required for Business Loan ?
|
Documents |
Self-Employed/ Self Employed Professional |
|
Identity Proof |
Aadhaar Card/ Passport /PAN Card/ Voter ID Card /Driving License |
|
Address Proof |
Passport/Aadhaar Card /Utility Bill/Rent Agreement |
|
Passport Size Photograph |
2 passport Size Photographs |
|
Income Proof |
Last 3 years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA |
|
Bank Statement |
Latest 1 year bank statement both current and savings. |
|
Ownership Proof |
Electricity Bill of House/Office |
|
Certificate and Proof of Business Existence |
sales tax/ excise/ VAT/ service tax registration, Copy of partnership deed, Trade license, certificate of practice, |
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