Business Loan Eligibility



Business Loan Eligibility

Each banks & financial Institutions require their applicant to meet certain eligibility criteria before applying for business loan, lender to lender few criteria are differed & depend on applicant profile. Some of the most common eligibility are given below:-

Apply Online Business Loan:- Business Loan

What is the eligibility for Business Loan?

Age Limit Minimum 18 to maximum 65 years

Non-individual Criteria Sole proprietorship, partnership firms, limited liability partnership, private & public companies are eligible to apply

Business Year At least 3 years of business existence

Credit Score Minimum 750 & above are considered

Annual Turnover Rs.10 lakh & above for existing units

Financial Performance Business must generated profit for last 2 years

How to Improve your Eligibility for Business Loan?

Competition among lenders is increasing frequently, just because of the industry competition it’s really become challenging to get loan approval. But still there are plenty of way to improve eligibility of applicant, figuring out such factors is essential for any borrower.

Solid Business Plan

A well structured business plan is essential for all business loan borrowers. Keep things short & up to point, avoid including unnecessary & useless content on your plan. Make sure you explain business growth & potential power to sustain. Apply business loan via financeseva.com to obtain additional benefits & cash back offers on disbursement.

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