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"No time to roam out for home loans, team Apna Loan bazaar services are timely and accurate moves made me delight on my loan part, keep up the good work and maintain the relationship, I would suggest Apna Loan Bazaar for all your loan requirement."
- Akash Jadav, Amhedabad
"Never Imagined short time of processing of home loan through Apan Loan Bazaar."
- Bupesh Kumar Saxena, Bangalore
"Fast service, exact eligibility information, great effort of Apna Loan Bazaar made me proud House owner, i would like to thank Apna Loan Bazaar Team for a timely service."
-  Khirud Sonawal, Chennai
"Excellent loan services after loan disbursement, monthly EMI reminders and up to date loan outstanding is a really impressive thought and easy accessible of team upon requirement, wishing you all the best for future growth of Apna Loan Bazaar."
- Swapnil, TCS, Mumbai
"Timely loan service and upon follow-ups on free time and convenient approach of the team made ease of my loan disbursement."
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"Availed best interest rate from the bank on my personal loan application with the help of Apna Loan Bazaar, I can recommend this website for loan services."
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Business Loan
Business Loans Basics

By nature business is require lot of money whether it is a new or existing to grow. It is necessary for each individual business is having a cycle where the initial investments to be turned out to sale and by sale procedure we get profits. As a fundamental a business requires the funds from the initial step to final step of to receive profits. A successful business means to infuse the funds into business whenever it requires.

Generally loans to business entities are two method, one is secured facility and the another one is unsecured facility. Generally working capital Bank Finance will be provided by the banks upon taking a sufficient collateral, however another way, banks will be provide unsecured business loans to the borrower based on the eligibility criteria.

Generally working capital loans starts from Rs. 5 lakhs, and the max will be depend upon the proposal strength and the collateral coverage. Whereas Business loans will be starts from Rs. 2 lakhs and max will be capped as Rs. 45 lakhs based on the client risk profile. Since the business loans are by nature unsecured.

In a nut shell, when a entity applies business loan to a Bank/Financial Institute, to be ready with the following factors.

The factors which will affect your business loan eligibility and rate of interest are given below:

1. Business Model or Business Plan

A business model will help the bankers to understand about your business overview, it will give comfort on your business loan decision making. After business model, bank will calculate “as a entity what is the competitive advantage you are having with compare to the market”. A systematic business plan shows that you are serious about running and maintaining a profitable business.

2. Type of Business

Another common deciding factor that may affect your business loan by the bank/financial Institutions is your type of business. A “Business Type” is very crucial for In banks decision making. There are some businesses which are into speculative business, film production units, real estate contractors, video parlours and detective agencies etc., these kind of businesses banks generally do not provide any kind of loans, as these entities will carry higher default risk.

Banks always looks for the entities which are already well established in the market for at least 3-5 years and having minimum turnover of Rs. 1.50 Cr of annual turnover for last 3 years will have higher opportunity to get the business loans from banks.

3. Credit History

Unfortunately, if you are apply for a business and have a poor credit history or over-all credit rating score, it will negatively affect your business loan rate. In fact, you may have a hard time qualifying for a business loan with a bad credit history, Since most of the business loan by nature as a unsecured loans, banks will be in particular concentrate on the credit history of the entities and its promoters, it is suggested that before applying any business loans avail your credit history from CIBIL and apply, a good CIBIL Score can make you to get the interest rate benefit while processing of the business loan.

4. Length of Time in Business (Experience)

If you are having high business vintage, higher opportunities of getting unsecured business loans from the banks / financial institutions. Those whose businesses survive beyond the three year mark have a better chance of qualifying for a decent business loan rate. Lenders are reluctant to sponsor loans at decent rates to those who are just starting a new business or who have never owned and operated a business before.

5. Your Business Structure

Another factor that may determine the rate of your business loan is how your business is legally structured. For instance, a small business that is established as a sole proprietorship may not qualify for a decent loan rate whereas a business that is structured as a incorporated may have higher chances of qualify for the decent loan, depending upon other factors too.

Who are Eligible:

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Following entities are eligible for Business Loans:

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    1. The Entities with business vintage minimum of 3 years
    2. Proprietorship/Partnership, Private Limited and Public Limited Companies.

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All the entities with the above two and also having minimum turnover of Rs. 1.5 Cr can eligible for a Business Loans, and applicant should fulfil Bank/Financial Institute eligibility criteria.

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Business Loan Documentation:

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Entity Proof:

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    1. Pan Card of Entity
    2. VAT/Service Tax Registrations
    3. MOA, AOA (for Private and Public Limited Companies), Partnership deed for Partnership entity
    4. Bank Statement of Last 6 or 12 months

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Address Proof: (Anyone of the below)

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    1. Telephone bill (any Landline bill)
    2. Electricity bill
    3. Title deed of property
    4. Rental agreement
    5. Bank Statement /CA Certificate confirming the Address of Entity

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Banking History: (Anyone of the below)

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    1. Overdraft/Cash Credit Account Bank statements of latest 12 months (if Any)
    2. Last 6 months Bank Statement of Current Account.
    3. All other Vehicle/consumer/Business Loan repayment track.

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Financial Information about the Entity:

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    1. Last 2 Year's Income Tax Returns     2. Last 2 Year's Certified Financial Statements Duly Certified by CA
    3. Proof Of Office (any one of the following, Lease Deed, Utility Bill, Title Deed, etc.)
    4. Any Other Income Proof That is Not Reflected in the Above Documents

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Apart from these, promoter (s) or Directors minimum KYC (Pan Card, Address Proof) details need to furnish by the applicant.

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