Eligibility Criteria & Eligible Entities

Business Type:  Most lenders provide loans to various types of businesses, including sole proprietorships, partnerships, limited liability companies (LLCs), corporations, and more.

Credit Score:  A good credit score is often required to qualify for a business loan. Lenders use your credit history to assess your ability to repay the loan.

Business Age:  Some lenders require a minimum operational history for your business, usually ranging from a few months to a year or more.

Annual Revenue:  Lenders may have a minimum annual revenue requirement to ensure your business has a stable income.

Collateral:  Secured loans might require assets as collateral to secure the loan. Collateral can be real estate, equipment, inventory, or other valuable assets.

Cash Flow:  Lenders often evaluate your business’s cash flow to determine your ability to repay the loan.

Age Criteria:     Min. 21 years at the time of loan application & Max. 65 years at the time of loan maturity.

Eligible Entities:  Individuals, MSMEs, Sole Proprietorships, Partnership Firms, Public and Private Limited Companies, Limited Liability Partnerships, retailers, traders, manufacturers, and other non-farm income-generating business entities engaged only in the services, trading, and manufacturing sectors

Business Vintage: Min. 1 year or above

Business experience:  Min. 1 year, business location to remain same

Annual Turnover:  Shall be defined by the Bank/NBFC

Credit Score:  700 or above (Preferred by most private and public sector banks)

Nationality:  Indian citizens

Additional Criteria:  Applicants must own either a residence, office, shop, or Godown.