Documents Required for Business Loan
Documents Required for Business Loan
A business loan is a loan that is provided by se`veral banks, financial institutions, or Non-Banking Financial Institutions (NBFCs) to increase the fund for starting a new business or expanding Rs. an existing business loan. The borrower can get a maximum loan amount of Rs. 5 crores at an interest rate of @14.50% with a flexible repayment tenure of up to 36 months.
Filled an application along with two passport-sized photographs.
Identity proof (for individual or company)
- Aadhar card
- PAN Card
- Passport
- Driving license
Address proof (for individual or company)
- Voter ID Card
- Aadhar card
- Utility bill
- Rent/lease agreement
- Bank passbook
Income proof
- Income Tax Return (ITR) with computation.
- Balance sheet for last 2 years.
- Profit and loss statement
- Provisional financial year 2020-21
- Complete financial with Annexure and Tax audit.
- Audited by certified Chartered Accountant.
Company proof
- Sole proprietorship Declaration (for partnership firm)
- For Public and Private companies (ROC required)
- Board resolution
- AOA and MOA
- Partnership deed (for partnership firm)
- List of authorized signatories
- List of shareholder and director with certified Chartered Accountant.
Other mandatory documents
- Sanction letter and loan schedule (if running any existing loan)
- SSI, GST, VAT, and Sales Tax certificate. (If applicable)
- All updated bank accounts of company for previous 1 year.