Business loan form
What is a Business Loan?
There comes a time in every business when there is a need for extra credit and funds for its smooth functioning. These funds help you, the business owner, to expand, invest and help in your working capital needs. At times like these, a quick business loan is the best financial aid that can help you grow.
Are you eligible for a Business Loan?
To be eligible for a business loan, these are the points you need to keep in mind:
How to apply for a Business Loan?
Any business entity or owner can apply for a business loan. Before you apply for a business loan, you need to understand the basic purpose of this loan and how you intend to utilise it. Here's a list of the basic documentation you will need to submit:
- Application form
- Company bank statements for six months
- Income Tax Returns for 2 years
- Balance sheet and P&L accounts for 2 years
- KYC documents of the company including PAN Card, Registration of Incorporation, Partnership deed, Memorandum & Articles of Association.
- KYC documents of the owners
- A report as to how the business loan intends to be utilised
Applying for a business loan has its advantages:
- You can use the funds for any immediate requirement you may face including your daily capital needs.
- Unlike investments from private equity firms or entities, there is no need for profit sharing
- Business loans can also help in tax benefits for the company
- You also have the option of opting for Flexi EMIs, where you can control the outflow of repayment
- For all our customers, Tata Capital offers pre-approved loans for the business finance needs
- There is no need for any collateral or guarantee for business loans for up to Rs 50 lakhs