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Business Loan Eligibility And Documents

Business Loan Eligibility


Eligibility:

  • You are eligible for the Business Loan if you are between 25-65 years of age

  • You should have a business that must be profitable for three consecutive financial years

  • Your turnover needs to show an upward trend

  • Your balance sheet must be audited by a registered Chartered Accountant


Documentation:

  • These are the documents you will need to submit in order to apply for a Business Loan:

  • Duly filled application form
  • Company bank statements for the last six months

  • Income Tax Returns for the last two years
  • Balance sheet and Profit & Loss accounts for the last two years

  • KYC documents of the company including PAN Card, Registration of Incorporation, Partnership deed, Memorandum & Articles of Association

  • KYC documents of the business owners

  • A report detailing how the Business Loan will be used

Documents required for Business Loan

Photo Identity Proof

Your Business Loan application form with passport size photographs along with a copy of your Voter ID /Passport/Driving License/ Aadhaar card

Bank Statements

A copy of your certified bank statements for the last six months

Business Proof
Trade License/Establishment/Sales Tax Certificate
Ownership documents
Sole Proprietorship Declaration or certified copy of Partnership Deed
Income Tax Returns along with computation for the last two years
P/L Profit/Loss statement and balance sheet for the last two years
 

What’s the maximum amount of Business Loan you can avail?

The maximum amount of a Business Loan depends on your eligibility and your business returns. You can get up to ₹ 75 lakhs.  

EMI Calculator

An EMI calculator for a Business Loan helps you to understand the EMI that you will pay towards the principal payments and interest payment over the loan tenure. Use the EMI calculator to know how much money you can pay monthly over a course of time to repay your loan. With the help of EMI calculator, you can plan your monthly instalments and conveniently pay off the loan.

Foreclosure Calculator

Business loan foreclosure calculator helps you to calculate your foreclosure amount for your business loan. Calculate your interest saved by using business loan foreclosure calculator at Tata Capital.

Pre-Payment Calculator

Pre-payment of a Business loan involves repaying a large instalment of your loan before the due date. The Business Loan pre-payment calculator allows you to assess the effect of such early loan repayments on your finances including your resultant EMI, tenor etc.

GST Calculator

Calculate your GST amount with GST calculator by Tata Capital. Check the GST amount payable at Tata Capital and apply for a business loan now.

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