What is a Business Loan?

There comes a time in every business when there is a need for extra credit and funds for its smooth functioning. These funds help you, the business owner, to expand, invest and help in your working capital needs. At times like these, a quick business loan is the best financial aid that can help you grow.

This borrowed capital can be applied towards daily capital expenses, for specific project funding, expansion of the business including purchasing of new machinery for the business. You can also apply to take a loan for business if you need investment for starting a new business or ancillary units for your existing business.



Are you eligible for a Business Loan?

To be eligible for a business loan, these are the points you need to keep in mind:



01

Types - 1

You need to be minimum of 25 years of age and maximum 65 years.

02

Types - 2

Your business should have been making profit for 3 consecutive financial years

03

Types - 3

Turnover should be on a positive trend.Balance sheet has to be audited by a registered chartered accountant

What are the documents you need?

To avail a business loan, you will need the following documents:



01

Types - 1

Complete KYC of the company.Income Tax Returns for 2 year

02

Types - 2

KYC documents of the owners, partners, shareholders.Certified bank statements for six months

03

Types - 3

Audited balance sheet and profit & loss account for 2 years.

Why Loan Affairs?

Running a successful business is not an easy task. There are always ups and downs that you, as a business owner face. We, at Loan Affairs, understand that meeting every financial need is not simple and sometimes you do need a helping hand.
We take special pride in being that institution that can help you when you need help the most. We also give you the option of choosing what kind of loan you would need. This helps in routing that fund in the right direction and give you the boost you need. Be it project funding, the working Loan Affairs requirement for raw materials purchase, term loans for machinery or bank overdraft, we have the solution that you are looking for.


Quick disbursement: Once all your documents are in place, your loan from loanaffaris can be disbursed within 3 business days.
Business Loan Interest Rates: Loan Affairs believes in applying the best market practices and adheres to the principle of giving its valuable customers the best business loan interest rates.
Guarantee: We offer you commercial loans with no additional collateral or guarantee.
Flexible EMI option: We give you the option and convenience of to customise your monthly loan repayment instalment that is best suited for your company's cash flow.
Complete access: You will have complete online access to your loan account and can keep track of your EMI schedule, interest paid on each EMI and interest certificates.
SME & MSME Loans: You can choose to fund your small or medium sized enterprises using SME loan. There are various factors to be considered to get approval. Find out more about small business loans.