Running a business isn’t simple, whether you want to set up a new business or re-start an existing one, running a business requires financial support. Many times business owner does not have sufficient balance to purchase their products then the business loan can help them to maintain business. The primary purpose of a business loan is to support the urgent requirement and take your business to the next level. This is the reason business loan has become an important tool for the businessperson.
A business loan from SUB PARIVAR PVT Limited can support you to launch a new business or expand your business. We understand business needs funds to invest in infrastructure, the latest machinery, maintain inventory, and grow to work capital. We can provide customized loan to boost your enterprise-scale to new heights.
Business loans are categorized into two segments: – Unsecured loan and secured loan. Unsecured business loans are provided for Pvt Ltd companies, LTD companies, partnership firms, proprietorship and the loan term is for 3 years. Apart from this, secured business loans are provided for the working capital fund in rupees or foreign currency for Pvt Ltd companies, LTD companies, partnership firms, and proprietorship.
Business Loan Benefits
- It requires minimum paperwork and some customer gets a loan without collateral.
- Customers can get a customized option for a loan.
- You can choose flexible tenure options to repay the loan and it can be short term to long term.
- The loan processing time generally takes 4 working days.
Business Loan Eligibility
- The applicant’s age should between 25 to 65 years old.
- The Applicant must run business in profit for at least 3 years.
- An income tax return should be filed at least 1 year.
- The balance sheet must be audited by a registered CA.
Document Required For a Business Loan
- The applicant has identity proof with KYC documents such as Voter ID, PAN card, Aadhar card, Passport, or any valid document.
- The applicant has address proof such as Utility bill, Telephone bill, rent agreement on stamp paper, ration card, or any other document issue by GOI.
- Bank account statement for the latest six months.
- The applicant should have a monthly income of a minimum of 30,000.
Banks are using various factors to calculate the loan amount for borrowers. The Interest loan depends on your business plan, the loan amount you have applied, and the repayment period.