One can take business loan to start a new project, expand the current business to a new location, and buy new equipment, purchase office space and assets. With the current state of business financing, it can be harder than usual to get a business loan.
One might not immediately posse the necessary capital for their start-up business. In such cases, the most feasible option is to apply for a startup India loans to start a business. There are many different types of startup business loans that vary depending on the nature and aim of the business.
Things to keep in mind when looking to apply for a Startup Business Loan
- Startups looking to get such a loan should ensure the following:
- Make a crisp and detailed business plan.
- State clearly how you intend to use the loan amount in your business plan.
- Summarise the objectives and goals of the business along with a chart that will highlight the potential returns and growth of the venture.
- Give a clear approximation of the funds.
Eligibility Criteria for Startup Business Loan
- The eligibility criteria to avail startup business loans may vary from lender to lender but the generic ones have been listed below:
- Age of the applicant should not be less than 21 years while the maximum age should not exceed 65 years.
- The applicant must be a citizen of India.
- Applicants should have a business plan.
Advantages and Benefits of taking up a Startup Loans
Convenience: most people are familiar with their banks and are regular visitors to the branches. This makes bank loans for startup businesses that much more convenient and more accessible for application.
Interest Rate: bank loans tend to have lower interest rate I comparison to private equity lenders.
Multiple Loan Options: Larger banks have specialized loan plans that are intended for small and new startups and businesses. The banks and their loan schemes are only concerned with the loan principal and have no affiliation any fund exchange of the startup or business itself.
Documents Required
- GST Registration Certificate
- PAN Card and Partnership deed
- (Applicable if partnership company)
- Office Address Proof
- (Utility Bills for Telephone, Electricity, GST Registration Certificate OR Bank Statement)
- Income Tax returns of the last 2 Years
One can take business loan to start a new project, expand the current business to a new location, and buy new equipment, purchase office space and assets. With the current state of business financing, it can be harder than usual to get a business loan.
One might not immediately posse the necessary capital for their start-up business. In such cases, the most feasible option is to apply for a startup India loans to start a business. There are many different types of startup business loans that vary depending on the nature and aim of the business.
Things to keep in mind when looking to apply for a Startup Business Loan
- Startups looking to get such a loan should ensure the following:
- Make a crisp and detailed business plan.
- State clearly how you intend to use the loan amount in your business plan.
- Summarise the objectives and goals of the business along with a chart that will highlight the potential returns and growth of the venture.
- Give a clear approximation of the funds.
Eligibility Criteria for Startup Business Loan
- The eligibility criteria to avail startup business loans may vary from lender to lender but the generic ones have been listed below:
- Age of the applicant should not be less than 21 years while the maximum age should not exceed 65 years.
- The applicant must be a citizen of India.
- Applicants should have a business plan.
Advantages and Benefits of taking up a Startup Loans
Convenience: most people are familiar with their banks and are regular visitors to the branches. This makes bank loans for startup businesses that much more convenient and more accessible for application.
Interest Rate: bank loans tend to have lower interest rate I comparison to private equity lenders.
Multiple Loan Options: Larger banks have specialized loan plans that are intended for small and new startups and businesses. The banks and their loan schemes are only concerned with the loan principal and have no affiliation any fund exchange of the startup or business itself.
Documents Required
- GST Registration Certificate
- PAN Card and Partnership deed
- (Applicable if partnership company)
- Office Address Proof
- (Utility Bills for Telephone, Electricity, GST Registration Certificate OR Bank Statement)
- Income Tax returns of the last 2 Years
FundsTiger is a popular online loan platform. Our consumers come to us for their money requirements, whether they are short-term or long-term, small-ticket or large-ticket, personal, family, or business. FundsTiger team brings a wealth of international financial knowledge to the table and tailors it to your specific needs. Money advice, credit advice, wealth planning, and, of course, credit are all available to our clients.
Faster Funding – We are over 80% faster than most traditional banks and lenders
Total Focus on Your Wins – We leverage our technology and business expertise for your financial success.
Customized Loans – We can structure and customize loans for your unique needs
Customer needs in Forefront – Your needs are our priority. We promise to deliver you with services that are best on our capabilities. By handpicking the personal loan offers based on customer profile, we try to give you the most personalised experience.
Support you can rely upon – Monitor your loans 24/7 and reach out to a super-responsive support service
Relationships, not Borrowers – We believe in building relationships, not just lending to borrowers.
More Value for Money – We offer the best value for money loans when compared to all our competitors
Real-time Customer Support – Our customer support team is fast and efficient to clear all your doubts regarding personal loan eligibility, procedures, offers, documentation and repayment options. We even contact with the respective lender on behalf of you.
Cutomised Tailor Options – Depending on your demands, we may provide quick financing of varying quantities at affordable interest rates.