Business Loan availability and eligibility criteria

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Business Loan availability and eligibility criteria

  • Business loans are available for an amount between Rs. 10 lakhs to Rs 5 crores for small business,
  • Business loans are available for a limited repayment time from 3 years to 5 years.
  • The unsecured loan can be from 10 lakhs to 35 lakhs.
  • Business loans are available for self-employed persons that either want to start a new business or already have their own business or their own company; it depends on their company’s credibility and their yearly turnover.
  • To obtain a business loan in India the person should be an Indian national only.

Eligibility Criteria: –

  • Age of applicant should not be less than 21 years
  • Age of applicant at loan maturity should not be more than 65 years
  • Net Monthly Income should be at least Rs. 1,50,000 per year
  • Minimum yearly turnover should be Rs 10 lakhs

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