What are the required things to apply for a business loan in Bangalore?

1 Answer

Answer :

To apply for a business loan in Bangalore, the following things are required:A Passport sized photo of the applicant(s)Know-Your-Customer documents- These include your passport, Driving License, Voter's Identity Card, PAN card, Aadhar card (that is issued by UIDAI) or the NREGA job cardCertificate of Business Existence as business proofFinancial documents like: Latest Income Tax Returns, along with computation ofBalance Sheet, income, Profit and Loss account of the past 2-3 yearsSole Proprietorship Declaration, certified true copy of Memorandum & Articles of Association (MOA/AOA)Bank statements of the past 6 monthsDepending on which bank or Non-Banking Financial Company (NBFC) you are applying the loan from. For example, NBFCs like Bajaj Finserv which have very low documentation and quick approval service. The type of loan seeked and your business, you might have to furnish more documents, in addition to the ones listed above.In case of business loans, the applicant has the option to apply for the loan as an individual or through the profile of the company. In the two cases, the documents to be furnished are different.

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