Secure Business Loan

Business loan is a financial offering specifically used for business purposes. Business loans offered by Banks and NBFCs can be availed by business owners, self-employed professionals, MSMEs, and other business entities. The loan amount is mainly used for business expansion purposes, to meet working capital requirements, enhance cash flow, buy equipment/machinery, stock inventory, pay rent, hire/train staff, etc.

Business loans are offered by Private and Public Sector Banks, NBFCs, Small Finance Banks (SFBs), Micro Finance Institutions (MFIs), Regional Rural Banks (RRBs), etc.

Documents required for a secured business loan

• KYC documents along with firm registration/ proof of identity
• Primary business bank statement for 6 months
• Salary slips for 2 months (if applicable)
• Partnership deed/ company MOA/ AOA/ COI (if applicable)
• The primary banking account of the applicant should have a minimum vintage of 1 year
• Property documents such as sale deed, house tax receipt, electricity bill