Finwell Investment Solution is an innovative one-stop-shop for all your financial needs, including Home Loans, Personal Loans, Business Loans, Life Insurance, Health Insurance, General Insurance and more.
A sufficient amount of cash is needed by businesses in order to pay for expansion costs or cover startup costs. As a result, businesses seek out business loans to get the funding they want. A business loan is a sum of money that the company must pay back in accordance with the terms and circumstances of the loan.
It is crucial for business owners to comprehend their startup financing alternatives, how loans function, and what a lender will want to see from an owner before approaching a lender for a loan.
Financial Flexibility An online business loan provides essential working capital, ensuring flexibility in managing day-to-day expenses, seizing opportunities, and navigating cash flow fluctuations.
Business Expansion Loans enable businesses to expand operations, open new branches, diversify product lines, or enter new markets, contributing to increased revenue and market presence.
Technology and Equipment Investment Funds from loans can be invested in cutting-edge technology and equipment, enhancing efficiency, productivity, and competitiveness.
Building Credit Responsible repayment builds a positive credit history, improving the business's creditworthiness and facilitating access to larger loans with favorable terms in the future.
Tax Benefits The interest paid on an online business loan is often tax-deductible, reducing the overall tax burden and making borrowing more financially viable for the business.
Improved Vendor Relationships Timely payments to suppliers strengthen relationships, often leading to better terms, discounts, and enhanced reliability in the supply chain.
Emergency Funds During Downturns Instant business loan provide a safety net during economic downturns, allowing companies to cover operational costs, salaries, and other crucial expenses, ensuring business continuity.
Marketing and Promotions A business Loan in India can be used for marketing campaigns, promotions, and advertising, boosting brand visibility and attracting more customers, thereby increasing sales and revenue.
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.
Flow: often evaluate your business's cash flow to determin00your 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.
The list of documents to be submitted varies based on type of business entity.
Submit the following documents to begin with the loan process:
ITR for the past 2-3 years
Current Bank Account Statement for the last 12 months
Photocopy of PAN Card
Address Proof for Residence such as Voter Card, Passport, Aadhar Card, Telephone Bill, Electricity Bill
Address proof for Business such as the Telephone Bill or Electricity Bill
Last Financial Year's provisional Financials and future year's projections.
Company's business profile on the letterhead
2 photographs of promoters and property owners.
Sanction letter and Repayment schedule of existing loan
GST registration certificate and GST returns of latest 2 years.
D-Vat/Sale tax registration copy
Udhayam Aadhar registration certificate
Rent agreement copy of factory and residence (if property is rented)
Business Continuity proof of 3 years (3 years old ITR/Company registration etc)
Company PAN Card, Certificate of Incorporation, MOA, AOA, List of Directors, and Shareholding pattern for Pvt Ltd companies
Partnership Deed, Company pan Card for Partnership Companies
Financial Flexibility An online business loan provides essential working capital, ensuring flexibility in managing day-to-day expenses, seizing opportunities, and navigating cash flow fluctuations.
Business Expansion Loans enable businesses to expand operations, open new branches, diversify product lines, or enter new markets, contributing to increased revenue and market presence.
Technology and Equipment Investment Funds from loans can be invested in cutting-edge technology and equipment, enhancing efficiency, productivity, and competitiveness.
Building Credit Responsible repayment builds a positive credit history, improving the business's creditworthiness and facilitating access to larger loans with favorable terms in the future.
Tax Benefits The interest paid on an online business loan is often tax-deductible, reducing the overall tax burden and making borrowing more financially viable for the business.
Improved Vendor Relationships Timely payments to suppliers strengthen relationships, often leading to better terms, discounts, and enhanced reliability in the supply chain.
Emergency Funds During Downturns Instant business loan provide a safety net during economic downturns, allowing companies to cover operational costs, salaries, and other crucial expenses, ensuring business continuity.
Marketing and Promotions A business Loan in India can be used for marketing campaigns, promotions, and advertising, boosting brand visibility and attracting more customers, thereby increasing sales and revenue.
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.
Flow: often evaluate your business's cash flow to determin00your 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.
The list of documents to be submitted varies based on type of business entity.
Submit the following documents to begin with the loan process:
ITR for the past 2-3 years
Current Bank Account Statement for the last 12 months
Photocopy of PAN Card
Address Proof for Residence such as Voter Card, Passport, Aadhar Card, Telephone Bill, Electricity Bill
Address proof for Business such as the Telephone Bill or Electricity Bill
Last Financial Year's provisional Financials and future year's projections.
Company's business profile on the letterhead
2 photographs of promoters and property owners.
Sanction letter and Repayment schedule of existing loan
GST registration certificate and GST returns of latest 2 years.
D-Vat/Sale tax registration copy
Udhayam Aadhar registration certificate
Rent agreement copy of factory and residence (if property is rented)
Business Continuity proof of 3 years (3 years old ITR/Company registration etc)
Company PAN Card, Certificate of Incorporation, MOA, AOA, List of Directors, and Shareholding pattern for Pvt Ltd companies
Partnership Deed, Company pan Card for Partnership Companies
Finwell Investment Solution is an innovative one-stop-shop for all your financial needs, including Home Loans, Personal Loans, Business Loans, Life Insurance, Health Insurance, General Insurance and more.