List of business loan documents required in India
Documents Required for business loan in India: all the relevant information related to documents required for business loans.
- ID Proof: Papers as proof of identity like Passport, Pan card, Voters ID Card and Driving License.
- Address Proof
- Proof of Continuity Of Business
- Bank Statement 6 Months
- Board Resolution (If pvt ltd co. is co-borrower/Partnership Authorization Letter {if partnership firm is co-borrower}
- ITR & Statement Of Computation of Income – for last 2 Years
- CA Certified or Audited P/L Acc Statement and for >40 Lacs cases Audit report along with schedules of P&L and Balance Sheet – for last 2 years
- Latest ITR of Co-Applicants – For last 2 Years
- Ownership Proof of Residence or Office
Self Employed (Private Ltd. Co. and Partnership Firms) include Private Companies and Partnership firms in the Business of Manufacturing, Trading or Services.
Eligibility Criteria:
- Minimum Turnover of Rs. 40 Lakhs.
- Years in business: Minimum of 3 years in current business and 5 years total business experience
- Business must be profit making for the last 2 years
- Minimum Annual Income (ITR): Rs. 1.5 Lakhs p.a.
Documents required:
- PAN Card
- Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
- Bank Statement (latest 6 months bank)
- Last 2 Years ITRs (computation of income) Balance Sheet and Profit & Loss a/c. Audited or Certified by a CA
- Proof of continuation (ITR/ Trade license /Establishment /Sales Tax certificate)
- Sole Proprietor Declaration or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association & Board resolution (Original)
Self Employed (Individuals). include – Sole proprietors, Partners & Directors
Eligibility Criteria
- Minimum age of Applicant: 21 years
- Maximum age of Applicant at loan maturity: 65 years
- Years in business: Minimum of 3 years in current business and 5 years total business experience
- Minimum Annual Income (ITR): Rs. 1.5 Lakhs p.a.
Documents required:
- Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
- Address Proof (Ration card Tel/elect. Bill/ Lease agreement/ Passport/ Trade license /Sales Tax certificate)
- Bank Statement (latest 6 months)
- Latest ITR along with computation of income, Balance Sheet & Profit & Loss a/c for the last 2 yrs. Audited or Certified by a CA
- Proof of continuation (ITR/Trade license /Establishment /Sales Tax certificate)
- Other Mandatory Documents (Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)
