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Basically, business loans are planned for business purposes. Finance is the bloodline of every business, whether you want to expand an existing business or start a new business. It is provided by several banks, NBFCs (Non-Banking Financial Companies), or financial institutions to meet the financial needs of business.
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Basically, business loans are planned for business purposes. Finance is the bloodline of every business, whether you want to expand an existing business or start a new business. It is provided by several banks, NBFCs (Non-Banking Financial Companies), or financial institutions to meet the financial needs of business. The business loan application form is a mandatory document to be filled in, beside of application form, there are other required documents asked by the lenders. Failing to submit the mandatory document can lead to loan rejection. Therefore, make sure you keep the below-mentioned paperwork done before approaching the bank for business loan.
Documents required Partnership firm LLP – Business loan • Both passport-sized photographs. • Clear copy of proprietor's PAN Card. • Address proof: - Passport and Voter ID Card of Proprietor’s. • Office address proof: - Recent telephone bill and electricity bill. • Copy of GST Return for the last year. • Copy of GST Registration and firm registration certificate. • Provisional financial year 2019 – 20. • Income Tax Return computation, all scheduled and annexure, profit and loss account, tax audit report, and balance sheet. • Copy of agreement to sell. • The proprietor's updated bank statement of saving account for last 6 months. • Last 1-year updated CC (Cash Credit) Account, Current Account, Overdraft Account. • Provide repayment scheduled and sanction letter, if running any loan. • Property documents with chain and sanction MAP.
