Business Loan Eligibility
編輯歷史
| 時間 | 作者 | 版本 |
|---|---|---|
| 2022-04-09 11:46 – 11:46 | r1 – r18 | |
顯示 diff- Untitled
-
- This pad text is synchronized as you type, so that everyone viewing this page sees the same text. This allows you to collaborate seamlessly on documents!
+ Business Loan Eligibility
+ Business Loan Eligibility
+ A business loan is an amount of money that the lender provides and the borrower pays back along with the rate of interest in a specific period. Every business has its own financial requirements. It is offered by many banks, financial institutions, and Non-Banking Financial Companies (NBFCs) to fulfill the requirements of their business needs.
+ Eligibility criteria of a business loan: -
+ Eligibility criteria for a business loan depend on various factors, I.e., age of the borrower, repayment history, working experience, credit score, business turnover, etc.
+ *The minimum age of the borrower is 25 years and the maximum is 60 years of age.
+ *Cash flow should be positive in the organization of a business.
+ *Business or sales turnover must be audited by the registered Chartered Accountant.
+ *Continuity of a business must be a minimum of at least 3 years.
+ *Income Tax Return must be filed for the previous 1 year.
+ *The borrower can take a minimum loan amount of Rs. 1 lakh and the maximum are Rs. 5 crores.
+ *Annual turnover should be more than Rs. 10 lakhs.
+ *CIBIL Score of the individual must be 750 or above.
+ *Business should generate a minimum profit of 2 years.
+ *Entities that are eligible for business loans are sole proprietors, individuals, partnership firms, public and private limited companies, MSMEs, SMEs, limited liability companies, etc.
|
||
| 2022-04-09 11:45 | r0 | |
顯示 diff+ Untitled
+ This pad text is synchronized as you type, so that everyone viewing this page sees the same text. This allows you to collaborate seamlessly on documents!
|
||