- Personal LoanPersonal Loan
- Loan Against PropertyLoan Against Property
- Home Loans
- Loan Against SecuritiesLoan Against Securities
- More Loans
- Insurance Solutions
- Value Added ServicesValue Added Services
To receive an approval for your business loan, you will need to submit the following documents:
Identity Proof |
For a company, firm or individual - a valid identity proof and PAN Card |
Address Proof |
Voter ID Card, Ration card, Passport, or Driving License |
Bank Statements |
Latest Bank Statements for last 6 month |
Income Documents |
This should include the latest 2 years ITR along with the computation of income, balance sheet, profit and loss account for the past two years. This has to be submitted after the requisite CA certification |
Proof of Continuation |
ITR/Trade license/Establishment/Sales Tax Certificate |
Other Documents |
Sole Proprietorship Declaration or Certified Copy of the Partnership Deed, certified true copy of the Memorandum & Articles of Association (certified by the company Director) and the Board resolution |
The above is just a basic list. The actual list of business loan documents will depend on your profile, requirement and Fullerton India’s policy at the time of application.
To know more, get in touch with us today via our toll free number 1800 103 6001 (between 9:00 AM - 7:00 PM on all days except Sundays, 4th Saturday of the month and public holidays) or email us at [email protected]
At Fullerton India, for business loans amounting up to Rs 50 lakhs, you don’t need to pledge your personal or business assets. These loans are unsecured in nature and are similar to personal loans.
However, for a business loan of amount Rs 50 lakh and above, you need to provide collateral for successful processing of the business loan application.
Credit score plays a crucial role in determining the eligibility criteria. You need to have a CIBIL score of over 700 to meet the business loan eligibility criteria.
A CIBIL score of below 700 points can impact your business loan eligibility or the lender may ask for the additional personal guarantee to successfully process the business loan application.
For successfully applying for a business loan, you need a Minimum Annual Income greater than INR 2 lakhs for the past 2 years.
And in the income documents, you need to furnish the latest 2 years ITR along with the audited income statement, balance sheet, profit and loss statement for the past two years.
Yes, both LLC, limited liability company and LLP, limited liability partnership is eligible to apply for a small business loan.
Entities such as private limited companies, limited liability partnership firms, partnership and closely held limited companies are eligible to apply for a business loan. Apart from that self-employed professionals and self-employed non-professionals can too apply for the business loan.
You need to provide the following documents to be eligible for a business loan:
* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.
Here are some articles which could help you understand us and our products better.
View AllUnable To Pay Business Loans EMI? Here are Few Things You Can Do
Being a business owner is not easy. Every day is a challenge; procuring inventory, equipment, payments, etc., can be…
Top 10 Profitable Home Business Ideas To Earn Money
After the COVID-19 pandemic hit India, many people have faced troubles in winning back their jobs and continuing their…
8 Tips To Achieve Success As A Women Entrepreneur
Women in entrepreneurship are one of the major reasons that this country is seeing growth. In every domain, from…
Here’s How To Start A Wholesale Business In India?
Many small business owners in India turn to running a wholesale business to earn greater profits and serve their…
How to Start a Travel Agency Business In India?
In India, travel and tourism are the largest work sectors of the economy. Because of the ever-increasing demand for…
How Can I Get a Small Business Loan Without Collateral?
As a small business owner, you wear many hats at once. From marketing to financing, you are in charge of all operations.…
Have a query? You can contact us through any of the channels listed below.