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Business Loan at Multiple Banks & NBFCs
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What is Business Loan?
Business loans are the type of loans designed to cater to the needs of small businesses or enterprises. It can be helpful to meet your capital requirements and for expansion purposes.
Several banks and financial institutions offer customized business loans at attractive interest rates to people involved in the business. Usually, people applying for business loans need not provide any collateral or security.
Eligibility to avail Business loan
Business loans can be availed by self-employed, manufacturing and services companies, and private limited companies. Each lender has a specific set of eligibility criteria that the applicant must fulfil for successful sanctioning. Some standard eligibility criteria for business loans are:
- Age limit – (21 to 65) years old
- The applicant must have not any criminal background
- Applicant should have a good credit score and must not have defaulted on previous loans
- Income Tax Returns for the past three years
- Charges and Fees, turnovers, operational history differs from lender to lender.
Business Loan Application Process
To apply for a business loan online at The Loan Store, follow these steps,
- Visit www.theloanstore.in
- Hover on “Loans” and Click on “Business Loan”-> “Apply for Business Loan”
- Select the type of profession, Enter your Net Monthly Income, Select the Loan amount required, Select the type of residence
- Enter your Personal details such as Name, mail ID, Pincode, PAN, and state
- Confirm your registration with an OTP
- A lead will be created, and the customer care agents will contact you to seek documents and find offers from suitable banks or NBFCs. after which your loan will be processed.
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