What is Business Loan?
Business loans serve as a crucial tool for companies to secure funding for various purposes that contribute to their growth, operations, or financial stability.
A business loan is a financial arrangement where a business borrows a specific amount of money from a lender, usually a financial institution like a bank or credit union, with the understanding that it will be repaid over time with interest.
Business loans play a crucial role in helping businesses achieve their goals, manage cash flow, and navigate financial challenges. The terms and conditions of business loans can vary widely, so it’s important for businesses to carefully consider their needs, compare loan options, and choose a financing solution that aligns with their objectives and financial capacity..
- Rate of Interest 2to 6 % and tenure 1 to 20 years.
Eligibility Criteria for Business Loans
To qualify for a business loan from Laxminarayan Finance Finance, applicants must meet the following criteria:
Document Required
Identity Proof (Any one):
Aadhaar Card
PAN Card
Passport
Voter ID
Driving License.
- Address Proof (Any one):
- Business Proof:Financial Documents:
- Income Tax Returns (ITR) for the last 2-3 years.
- Audited Profit and Loss Statement and Balance Sheet for the last 2 years.
- Bank statements for the last 6-12 months (business account).Loan Application Form:
- Photographs: