Services we offer for our clientsWhen considering a business loan, it's important to understand various aspects including interest rates, repayment terms, loan amount, and any associated fees. Here are some key points to consider:
- Interest Rates: Interest rates can be fixed or variable. Fixed rates remain constant throughout the loan term, while variable rates may change based on market conditions.
- Repayment Terms: This includes the duration over which you'll repay the loan, typically ranging from a few months to several years. Longer loan terms may result in lower monthly payments but may accrue more interest over time.
- Loan Amount: Determine the amount of funding you need for your business. Be realistic about your needs and ensure you're not borrowing more than necessary to avoid unnecessary interest costs.
- Fees: Consider any fees associated with the loan, such as origination fees, prepayment penalties, or late payment fees. These can vary among lenders and significantly impact the overall cost of the loan.
- Collateral: Some business loans require collateral, which is an asset you pledge as security for the loan. This could be real estate, equipment, or other valuable assets. Unsecured loans, on the other hand, don't require collateral but may have higher interest rates.
- Creditworthiness: Lenders will assess your credit history and financial health to determine your eligibility and the terms of the loan. A strong credit history and healthy business finances can help you qualify for better loan terms.
- Lender Reputation: Research lenders thoroughly to ensure they're reputable and offer favorable terms. Check reviews, ask for recommendations, and compare offers from multiple lenders to find the best fit for your business.
| Type Of Loan | Required Document | Eligibility |
|---|---|---|
| BUSINESS LOAN | ITR OF LAST 2 YEARS | 5 TO 6 TIMES OF ITR |
Required Documents
- Passport Size Photo
- Adhar Card
- Pan Card
- 2 Stamp Paper of Rs.10/- in favor of the applicant.
- Bank Account Detail/Bank Statement of last 6 months.
- Personal Mobile Number
- E-mail Id
File Charge
| Amount | File Charge |
|---|---|
| 1 Lac To 10 Lac | Rs. 2360 |
| 11 Lac To 40 Lac | Rs. 4760 |
| 41 Lac To 60 Lac | Rs. 7120 |
| 61 Lac To 80 Lac | Rs. 9480 |
| 81 Lac To 1cr | Rs. 11840 |
| More Than 1cr | (2360*10) Rs.23600 |
Types of Guarantors
Property / Government / Pvt/Ltd job / I.T.R
Documents Required For Guarantor
- Passport Size Photo
- Adhar Card
- Pan Card
- 7 Stamp Paper of Rs.50/- in favour of the Guarantor
- Bank Account Detail/Bank Statement of last 6 months
- Personal Mobile Number
- Last 2 month Salary Slip Guarantor (only in case of Pvt./Ltd. job Guarantor)
- Last 2 years I.T.R. (only in case of I.T.R Guarantor)
- Property's Paper / Khasra & Khatauni / Registry/ Kisan Bahi/ Will Papers (only in case of Property Guarantor)
Before applying for a business loan, it's advisable to prepare a detailed business plan outlining how you'll use the funds and how you plan to repay the loan. This can help demonstrate to lenders that you're a responsible borrower and increase your chances of securing favorable terms. Additionally, consider seeking advice from financial professionals or business advisors to ensure you make informed decisions regarding financing for your business.
