DOCUMENTS REQUIRED FOR BUSINESS LOAN:
Updated on : 2020-Dec-29 11:57:28 | Author :
Application form: Duly filled application form with all the required details
Passport-sized photographs: Of applicant and all co-applicants
Business Plan: Self-documented
KYC documents as per RBI guidelines as mentioned:
Identity Proof: Voter’s ID card, Passport, Driving License, PAN Card
Age Proof: PAN Card, Passport, Voter’s ID card
Address Proof: Passport, Voter’s ID card, Sales Tax certificate, Utility Bills (Telephone, Electricity)
Business Address Proof: Lease, possession or rent agreement, proof of business existence
Financial Documents and income proof:
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Last a pair of years’ IT returns
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Last 6 months’ statement
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Last a pair of years’ Profit and Loss statement
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Last a pair of years’ record audited by CA
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GST challans
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Tax audit reports
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Trade License
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Loan details, if any
Proof of Identity of personal Ld. or Partnership Firm
Service tax, IT return, Sales Tax, Registration certificate under Shops and Establishment Act, Memorandum of Articles (MoA) and Articles of Association (AoA), municipal tax bill, etc., a certified copy of partnership deed.
Documents required for Self-employed Individuals
Proof of Identity, PAN card, IT return, water and electricity bill in the name of concern, Voter’s ID card, Driving license, passport and PAN card of the sole proprietor
Documents required for Self-employed Non-professionals
• Proof of Identity – Individual
• Proof of Identity – Sole Proprietorship
• Last 3 years’ IT returns
• Last 3 years’ sales tax returns
• Last 6 months’ bank statement
If you want to avail business loan at low-interest rates, you can check and compare from several loan options available in the market. You can apply for a business loan online by visiting the bank’s official website or visiting the nearest branch. Government of India has launched various loan schemes to benefit millions of people nationwide. Therefore, above-mentioned documents are needed to be presented to the lender to avail a business loan. Requirements may differ from bank to bank and even the loan features may vary.
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