Business Loan Documents

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Documents Required for Business Loan

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]

Page also available in: हिन्दी - Hindi

Loan Amount

50,000

48,00,000

5,00,00,000

Rate of interest

13%

14%

21%

Loan Tenure

Months

12 Months

24 Months

48 Months

Your Calculated EMI*

2,30,462

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FAQs

Is the Collateral Required for a Business Loan?

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.

What is the Credit Score Required for a Business Loan?

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.

How much ITR required for a Business Loan?

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.

Can an LLC get a Small Business Loan?

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.

* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.