Business Loan in Patna for Fulfilling Financial Needs - Loan Trivia


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Thursday 12 July 2018

Business Loan in Patna for Fulfilling Financial Needs

In The World Bank' 2009 ranking on Ease of Doing Business in Indian cities, Patna occupied the second spot amongst 17 Indian cities surveyed in terms of the ease of starting a business. It takes pride in being one of the oldest continuously inhabited places in the world. If you are on the lookout for a reliable and convenient business loan in Patna to meet the financial requirements of your enterprise, Bajaj Finserv is sure to never let you down.

The following are the main features of loan for business by Bajaj Finserv-

The loan can be used to expand the business, increase working capital, run operations smoothly, take up bigger projects, hire new staff, purchase machinery and even to consolidate debts and help run your business better.

Most financial institutions and NBFCs are willing to offer attractive business loan to cater to this growing business trend. If you have applied for the loan here are few things you must consider -  

Your business must have a vintage of a minimum of three years.

Your business must be a Partnership, Limited Liability Partnership, Private limited, closely held Limited company and other constitution depending on their profile based on individual cases.  

You must be between 25-55 years of age.
  • Basic documentation needed are –
  •  At least previous year’s Income Tax returns are filed
  • With previous year’s turnover duly audited by a certified chartered accountant
  • KYC documents
  • Business proof – certificate of existence of business
  • Relevant financial documents
  • Bank account statements of last month

Proof of qualification – document to be shared for Self Employed Professionals (SEP)

Self Employed Professionals (SEP) eligible for business loan must be in the profession of allopathic doctors, chartered accountants, company secretaries and architects who are practicing their profession. While, Self Employed Non-Professionals (SENP) must be Traders and manufacturers, retailers, Proprietors, and service providers etc.

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