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    You should also know these things about business loan?

    Who can apply for business loan?

    Entrepreneurs starting or expanding businesses.
    Self-employed professionals or individuals.
    Private limited companies and public limited companies.
    Partnership firms.
    NGOs, co-operative firms, and trusts.

    What are the benefits of business loan?

    1. Enhanced Cash Flow: Helps manage daily expenses and improve liquidity.
    2. Financial Support: Covers operational and growth-related expenses.
    3. Flexible Use: Suitable for short-term needs like working capital and long-term investments.

    What can a business loan be used for?

    Expanding or growing your business.
    Increasing cash flow and managing daily expenses.
    Purchasing assets like land, equipment, or office space.
    Supporting working capital requirements.

    — Our advice your benefit —

    Eligibility and Conditions for Applying for a Business Loan

    To qualify for a business loan, applicants must meet the following criteria:

    Citizenship: The applicant must be an Indian citizen.
    Age Requirement: Applicants should be between 21 and 60 years old.
    Business Age: The business must have been operational for at least 2 years.
    Annual Turnover: The business should have a minimum annual turnover of ₹10 lakhs.
    Credit Score: A credit score of 700 or higher is mandatory for eligibility.
    Loan History: There should be no record of previous loan defaults by the applicant.

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