Business Loan

At Shraddha Group, we trust that you need a fitting account depending on the nature and objectives of your business. With our scope of Unsecured loaning arrangements, we can enable you to get the correct advance for your business.

Business loan
we provide business loan up to 10 cr.

A business loan is a financial product designed to provide funding to businesses for various purposes, such as expansion, equipment purchase, working capital, inventory management, or other business-related needs. It is a loan specifically tailored to meet the unique financial requirements of businesses. Business loans come with a defined loan amount, interest rate, and repayment terms. The loan amount can vary based on factors such as the business's creditworthiness, revenue, and the purpose of the loan. Interest rates can be fixed or variable, depending on the lender and the loan agreement. Repayment terms can range from a few months to several years, depending on the loan amount and the borrower's preferences.

Obtaining a business loan can provide several benefits to businesses. It can help them manage cash flow, invest in new opportunities, purchase necessary equipment or inventory, hire additional staff, expand operations, or consolidate existing debts. With the right loan structure, businesses can achieve their growth objectives, improve financial stability, and enhance their overall competitiveness. Business loans can be secured or unsecured. Secured loans require collateral, such as property, equipment, or inventory, which the lender can seize if the borrower fails to repay the loan. Unsecured loans, on the other hand, do not require collateral but may have higher interest rates or stricter eligibility criteria.

To obtain a business loan, borrowers typically need to provide relevant financial documentation, such as business plans, financial statements, tax returns, and bank statements. Lenders assess these documents along with other factors like credit history, industry trends, and the borrower's ability to repay the loan. Choosing the right business loan requires careful consideration of factors such as interest rates, repayment terms, fees, and the lender's reputation. Working with a trusted financial advisor or loan consultant can help businesses navigate the loan application process, compare options, and secure the most suitable loan for their specific needs.

Overall, a business loan can be a valuable tool for businesses seeking financial support to achieve their growth and operational goals. It provides access to capital, enabling businesses to pursue opportunities and sustain long-term success.

1. Business Loan Features:

  • They are an unbound credit.
  • They are any reason advance.
  • They come at an appealing rate of intrigue.
  • They are generally transient credits opposite different advances, (i.e. 3 to 5 years).
  • Business credits can be given to people, Partnership Firms and Companies moreover.

 

2. Business Loan Advantages:

  • Most importantly bit of leeway of a Business credit is that it is any reason advance. Be it be occasions, wedding in the family, to satisfy your levy in Visas, sending your youngster for advanced education, purchasing gems, purchasing a bit of the plot which generally no banks support, and to meet any possibilities. You need not need to outfit the end utilization of a credit to the bank.
  • The advance does not require any security or insurance. It doesn’t require an underwriter either.
  • The documentation included is insignificant.
  • The time taken for advance endorsement is extremely negligible.

The documentation for business advances is one of the least complex. Essential KYC archives and pay records would get the job done to get a Business Loan.

The general rundown for getting a Business Loan are as per the following:

  • Photograph
  • Identity proof
  • Address proof
  • Income proof
  • Bank Statements
  • Continuity Proof
  • Qualification proof (applicable only for Self Employed Professionals)

 

The Detailed Documents Are As Below:

     1. Identity Proof (Any One of The Following)

  • Copy of PAN Card
  • Copy of Passport
  • Copy of Driving Licence
  • Copy of Government ID card
  • Copy of Voter ID card
  • Copy of Company ID Card (for select Corporates)

 

     2. Address Proof (Any One of The Following)

  • Copy of Passport (Can also be used as proof of identity)
  • Copy of Telephone Bill (both landline and post-paid mobile connection)
  • Copy of Driving licence
  • Copy of Voter ID card
  • Copy of Ration card
  • Copy of Electricity bill
  • Copy of bank statement (computerised statements only)
  • Copy of Life Insurance premium receipt
  • Copy of any title deed (Sale deed/ Index II)
  • Copy of Property tax receipt
  • Copy of Leave & License Agreement
  • Copy of latest credit card statement

 

     3. Age Proof (Any One of The Following)

  • Copy of PAN card
  • Copy of Passport
  • Copy of Birth Certificate issued by competent authority

 

     4. Signature Verification Proof (Any of The Following)

  • Copy of PAN Card
  • Copy of Passport
  • Copy of Driving License
  • Signature verification from Bank

 

     5. Income Documents

 

For Self-Employed Individuals:

  • Copy of last two-year IT returns along with computation of income, Balance sheet and Profit & Loss a/c, audited reports (in case of audited financials)
  • CA certified financials (in case of unaudited financials)
  • Bank statements of last six months of the main business banking
  • Business stability proof – Ghumasta Dhara / GST Licence / SSI Certificate / Business licences