Facets that determine eligibility for Business loan are
  • Eligible Age – Banks consider borrowers as we grow older of 21 years to 65 years
  • Loan Amount – Loan quantity of ? 50,000 to ? 100 Cr could be availed on company loan. Greater the mortgage quantity, higher the possibilities to obtain low-value interest.
  • Loan Tenure – loans are short term loans and they are provided for the smaller period. Generally speaking, these loans get for a tenure of just one to 5 years year.
  • Earnings Tax Returns (ITR) – A self used will get a company loan, only if it offers filed regular ITRs when it comes to previous years that are few. Banking institutions think about borrowers who possess filed ITRs of 2 years or maybe more as entitled to obtain a continuing company loan. Banking institutions assess your income that is monthly and ability predicated on details submitted into the ITRs.
  • Revenue / Turnover - Income could be the earnings...