Get Funding Solution for Self-Employed Engineers to Expand their Business - Loan Trivia


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Friday 15 February 2019

Get Funding Solution for Self-Employed Engineers to Expand their Business

If you are an engineer looking to start up your own business, then you have come to the right place. You will found here the information on Business financing for engineers. There are many engineers who want to be self-employed nowadays. For them, many Non-Banking Financial Companies (NBFCs) are offering loans. These loans do not need any collateral and are available quickly.

Some of the documents required for Business financing for engineers are:

  • Engineering degree certificate
  • Past three months bank account statement
  • KYC Documents such as Aadhaar, PAN, Passport, Driving License, Voter ID, etc.
  • Documents to support the proof of business.

Apart from the above, the engineers should have a minimum of three years of business experience and should be in the age group of 26 to 65 years. You should have a sound credit rating (CIBIL score of 750 or more).

The credit score rating is based on your credit card or personal loan usage and repayment. Normally, financing for engineering business cab be avail up to 30 lakhs will be provided which you can use for purchasing machinery, upgrading the latest equipment, etc.

The loan tenor varies between 12 months and 60 months and you can choose it based on your flexibility. Since it is an unsecured loan, the interest might be slightly on the higher. Choose the correct NBFC to avail your loan. 

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