Avail a Business Loan To Grow Your Business from Small to Medium Sized Company

All businesses begin with an aspiration to grow and expand. But timely funds are needed to fuel this aspiration. Smaller sized companies usually need a financial boost to grow and manage the gap between execution and revenues. In today’s dynamic business environment and growing competition, you need to grab all promising opportunities with timely finance.

A Business Loan is the most effective and safe approach to bridge any financial gaps at any stage. It is specifically designed to meet the ever-changing needs of small businesses today. This instrument can be used to meet a wide range of requirements such as start-up capital for small businesses, financing assets or meeting operating expenses. Connect with a financial institution with a good track record, experience and willingness to understand your specific requirements. Get customised credit options and you take your company one level up from small to medium. Applying for a Business Loan can be a hassle-free process requiring minimal documentation and paperwork.

The following are some of the documents required for Business Loan:

  • A recent photograph
  • Identity proof
  • Address proof
  • PAN card
  • Bank statements
  • Proof of business existence
  • Last three years’ Profit & Loss Statement and Balance Sheet - Annual turnover should be between `10 lakhs and `100 crores. Your business needs to be in continuity and show positive trends in turnover and profit in the last two years.
  • Last three years’ Income Tax returns (business and individual) duly certified - the taxable income should be over `2 lakhs per annum in the last two years.
  • The lender’s individual policies may also require some additional documentation
  • Depending on your application and verification of documents, you may be eligible for a business loan up to `50 lakhs. Once the principal amount, tenure and interest rate are finalised, you will be quoted an Equated Monthly Instalment (EMI) amount that you can pay throughout the tenure. An EMI is simply a convenient amount comprising of the principal and interest that you need to pay every month.

Benefits of Business Loans from a reputed financial institution:

  • The convenience of having relationship managers at your doorstep to advise and assist with loan applications
  • Smooth processing and quick approval
  • No need to pledge your assets or provide any other collateral
  • Flexible repayment options with tenures ranging from 12-48 months
  • Insurance cover for your business loan
  • Additional benefits of faster processing time and lower interest rates for existing customers

A Business Loan could be your stepping stone to move up from a small to medium enterprise. With multiple features and benefits to suit you, it is the ideal way to finance a growing company at your own terms.

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