Business Loan In India
Business loan in India is provided by several banks, NBFCs, and financial institutions to fulfill the business loan requirements. Business entities such as self-employed non-professionals, public and private limited companies, partnership firms, sole proprietors, self-employed professionals, limited liability partnership, etc.
Business loan – Interest rate
The rate of interest of Finance Seva for business loan is @14.50% onwards with the flexible repayment tenure of 36 months.
Top providers of business loan in India
- Adity Birla finance Limited
- Capital Float
- Deutsche Bank
- Axis Bank Ltd.
- Magma Fincorp Limited
- Hero FinCorp Limited
- Growth Finance
- HDFC Bank Ltd.
- IDFC First Bank
- Tata Capital Financial Services Limited
- State Bank of India
- Standard Chartered Bank
- Neogrowth
- Yes Bank Ltd.
- Lending Kart Finance Limited
Business loan eligibility criteria
Eligibility criteria of business loan depends on many factors such as age of an individual, repayment history, business turnover, creditworthiness and total work experience, etc.
- The minimum age of the borrower should be 25 years and the maximum are of 65 years of age.
- Income Tax Return must be filed for a minimum of 1 year.
- Cash flow must be positive in the business organizations.
- Sales turnover should be audited by registered Chartered Accountants.
- A minimum of years should be required for the continuation of business.
- The borrower can get loan amount ranging from Rs. 1 lakh to Rs. 5 crores