- Proof of identity ( Voter ID, driver's license, or passport)
- Address proof (house agreement/ration card/telephone or electricity bill)
- Bank Statement ( last 6 months)
- Latest income tax report
- Balance sheet and profit & loss Statements certified by a chartered accountant.
- Educational qualification proof
- Trade license/sales tax report/establishment certificate
- Proof of business existence (at least 2 years old for an existing business)
- Proprietorship declarations, partnership deeds, copy of MOA, AOA, and board resolution
Friday, 13 May 2016
New
Points to Be Considered Before Applying for Business Loan
If you want to be an entrepreneur with small or medium business, the first and most important step of starting a company is raising the fund. If you are a running a startup, then you must be aware of the hurdles related to acquisition of capital. There is two options either you can sell your equity in market or you can take a loan from any individual or organization.
Before applying for a business loan you need to check certain points.
Performance on financial front:
Lenders assess all financial foothold of your company which imprints in balance sheets, income statements, and proof of consistency of net worth. You need to submit 3 years of your financial statement to the lender.
Required Documents:
While applying for a business loan you need to be aware what all documents you have to submit. Here's a checklist to help you get all the documents sorted for the loan application:
If you are a newbie in the business world and you have no idea about business loans, you must know all facts before applying for business loans.

About Arwind Sharma
Arwind Sharma, Currently residing in Gurugram, Haryana. I work as a financial advisor with a Fintech company and have an experience of more than 7 years in personal finance. Having worked with some of the topmost financial firms in India I developed a knack for writing and sharing my knowledge to help others. If you need help or suggestions regarding matters related to finance and investment, you can connect with me on social networking platforms
Subscribe to:
Post Comments (Atom)
No comments:
Post a comment