Purpose
✅ Expanding your existing business or opening a new branch.
✅ Managing day-to-day operations and maintaining smooth cash flow.
✅ Purchasing new equipment, inventory, or raw materials.
✅ Hiring staff or investing in marketing and advertising.
✅ Covering seasonal demands or urgent business needs.
Eligibility Criteria
❇️ Business Vintage: Minimum 1–3 years of operational history.
❇️ Annual Turnover: Must meet lender’s minimum criteria.
❇️ Credit Score: A healthy score (650+ recommended) improves approval.
❇️ Business Plan: Clear plan explaining loan purpose and future goals.
Key Features
☑️ Loan Amount: Flexible limits based on your business requirement.
☑️ Interest Rates: Competitive fixed or floating interest options.
☑️ Tenure: Choose short or long repayment terms based on cash flow.
☑️ Fast Approval: Quick processing and disbursal of funds.
☑️ Collateral: Available as secured or unsecured, based on eligibility.
☑️ Purpose-Based: Ideal for expansion, purchase, or working capital.
Documents Required
❇️ Business Proof: Registration certificate, licenses, GST details.
❇️ Financial Statements: Balance sheet, P&L statement (last 2–3 years).
❇️ KYC: Aadhaar, PAN, and address proof of business owners.
❇️ Bank Statements: Business account statements for past 6–12 months.
❇️ Business Plan: Project report, revenue forecast, and loan usage details.
Fees & Charges
☑️ Processing Fee: Charged during loan application.
☑️ Interest Charges: Based on loan type and tenure.
☑️ Prepayment Charges: Applicable on early repayment in some cases.
☑️ Late Payment Fee: For delayed EMI payments.
☑️ Collateral Charges: If applying for a secured loan.
☑️ Legal & Technical Charges: For due diligence and verification.
