Business Loan

Business Loan Details

Business Loan is one the great ways to increase financing towards various business needs. There are many banks that offer loans up to 30 lakhs with and without collateral with pre-approved offers. It is the money that is credited to your account with a certain percentage of interest and fixed tenure for repayment. This amount can be used for the expansion of an existing business or the start a business from scratch. According to the needs of the business, the loan amount will be approved by each bank.

 PURPOSE OF BUSINESS LOAN:-

The main purposes of opting for a business loan are listed below:

• To expand the business

• To expand business location

• To start a whole 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

BENEFIT OF BUSINESS LOAN:-

Accessible and Convenient – Accessibility is the best feature of banks, it is a very essential factor as well and there will be a need for regular conversations, depositing savings, or any withdrawals. After being a customer for a specific bank for years, the customer gains trust in the bank, and simultaneously a good track record will help the bank to be lenient with its customers too. This familiarization helps in having personalized services.

 Multiple Loan Options – All banks promote various types of programs and schemes to encourage businessperson setups to make use of these. The actual earnings for all bank is from the rate of interest charges on loans. A few options offered are standard business loans, term loans, and others as per the need.

 Non-Profit Sharing – Angel investors and venture capitalists agree to offer a loan with the agreement of having partial ownership of the business, they will thus get the right to powers of the business, and in decision-making, they will share the profits of the business along with the business owner. On the flip side, banks don’t put their hands into business money, everything you earn through your business is all yours. There is no share of profits or loss. Banks sanction a loan with the intention of getting their interest and partial loan-payment installments.

 Lower Rates of Interest – The rate of interest in banks is low as compared to those of the lending agencies and few finance instruments such as credit cards, etc.

 Business Loans Offer Tax Benefits – Businesses taking bank loans can enjoy tax benefits since the ratio of profits is used to pay the loan amount; it is exempted from tax calculations

REQUIRED DOCUMENTS FOR BUSINESS LOAN

· PAN CARD
· ADHAR CARD
· ADDRESS PROOF
· 3 YEAR ITR WITH FINANCIAL
· LAST 1 YEARS BANK STATEMENT OF ALL ACCOUNT
· GST REGISTRATION
· GST RETURN LAST 1YEAR 3B GSTR
· 3 YEAR OLD BUSINESS PROOF REQ
· OWNERSHIP PROOF REQ
· PHOTO
· NOMINI PAN CARD ,ADHAR CARD ,PHOTO REQ
MINIMUM TURNOVER 50 LACS REQUIRED

Find Loan Products We Offers

Wide Range of Products​​ We offer a big basket of more than 15 financial products that include loans,

 credit cards, and bank and trading accounts from leading banks.

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