Business loan

Type 1

Loan Amount Rs 100000/- (Maximum)
Period Of Loan 260 Days
Repayment Rs 500/- Daily

Type 2

Loan Amount Rs 50000/- (Maximum)
Period Of Loan 260 Days
Repayment Rs 250/- Daily

Documents Required

  • Application from the Borrower in his own handwriting
  • Proposal for business loan
  • Application for business loan
  • Particulars of guarantors
  • Requisite license of the shop from local authorities
  • Copy of the latest tax paid receipt(for 1000 above Rs25000/-only)
  • Bank pass book-Front page with address & 6 month transaction page
  • Pan card copy of the borrower
  • Pass port size photo of both borrower & Guarantor
  • I.T return of Borrower, if available
  • Address proof of both borrower & guarantors
  • Requisite license of the shop from local authorities
  • Five cheque leaves, with the all the columns, duly filled as detailed below:-
    • 1st Cheque- For the whole loan amount including interest
    • 2Nd Cheque- For 20% of the loan amount including interest
    • 3rd Cheque- For 30% of the loan amount including interest
    • 4th Cheque- For 30% of the loan amount including interest
    • 5th Cheque- For 20% of the loan amount including interest
  • Demand Promissory Note
  • Agreement for business loan/li>
  • Other connected documents

  • Eligibility Criteria: For business with a minimum track record of 3 years.
    Loan above Rs. 1 lakh can also be considered, provided adequate security is there