Business Loan is a viable and popular financial instrument used in India to fund immediate or upcoming short term financial requirement for various business reasons. One can avail Business loan without any collateral or security against sufficient monthly regular income proof. Klariti TaxCorp shall stand shoulder to shoulder with you in facilitating Best Possible Finance (i.e. Business Loan) in the Shortest Possible Time and at Lowest Possible Interest Rate. We will also make Loan Application Process Smooth, Transparent and Convenient for You. We have facilitated Business Loans "All Across India" and for a "Vast Array of Circumstances" with an aim to Spread Business Success by partnering with our clients. Businesses (StartUp's and existing businesses) frequently require sufficient amount of financing (Short Term, Working Capital etc) for various operational and strategic requirements. The benefit of Business Loans in India is that it does not require any collateral or security to be pledged. Entrepreneurs who want to get business loan for a StartUp Company can face difficulty from lender while following the regular business loan application process, since the lending institution looks at applicants Credit Worthiness and capability of Loan Repayment. In the case of StartUp's Business Loan Application, the lender might also scrutinise the personal credit worthiness and trust worthiness (previous financial background, credit history, liabilities, other debts (if any), education, business plan, promoters investment in the StartUp) of the StartUp Promoters. Klariti TaxCorp with its team of professionals and vast experience in working with StartUp Companies, shall guide you throughout the complete process of Business Loan Documentation and upto Business Loan Disbursement.
Benefits with Klariti TaxCorp
- Amount : Low Interest Business Loans (No Upper Limit) are available against Collateral and without Collateral.
- Documentation : Easy, Minimum and Precise Documentation. All Your Information is Secure & Confidential.
- Agile Operations : Fast Processing & Decision Making of Loan Application (Quick Approval) in 48 Hours. No Collateral.
- Loan Repayment : Flexible and Attractive Loan Repayment Options for Clients
- Transparency : Transparent Process with No Hidden Costs for Clients
- Convenience : 100% Doorstep Service for Clients. No Branch Visits Required.
Business Loan Eligibility Check is the first step towards a successful Business Loan Application. Different lenders have different eligibility criteria's. However, below are some macro level criteria's which must be understood well, in order to get the best deal :
Monthly Income :Regularity and Amount of your company's monthly turnover/income greatly influences the Amount of Loan i.e. INR (Rs.), which a lender shall sanction. The higher the amount of monthly income/turnover, the Higher the amount of loan sanction and greater the chances of loan approval. Monthly income can be from all business sources.
Business Performance :
- Nowadays, Credit Score (CIBIL Score) is fast catching up as a major criteria for Loan Sanction or Denial. It is advisable to plan for Business Loan well in advance and maintain a good CIBIL score. CIBIL score is impacted by your Historical Banking and Previous Loan Servicing records. Your CIBIL score can make or break the deal.
- As a Entrepreneur, you must submit your Company Details, Asset Details, Bank Statements, Tax Returns as proof of your Financial Stability/Soundness.
Relationship with Lender :A trustworthy and progressive business relationship with the lender (Banks/NBFC etc) can go a long way in Negotiating a Favorable Business Loan Deal for Higher Loan Amount at Lower Interest Rates. Klariti TaxCorp has excellent business relationship with Banks, NBFC's across India. Loan Eligibility Calculator
- Credit Score : A healthy Credit Score between 700-900 points is a Great First Step.
- Financial Documentation : Company’s Financial Situation and Past Performance along with Cash Flow Statement, must be ready and well documented. At Klariti TaxCorp, we will help you to optimise your Loan Documentation for success.
- Company Presentation : A clear, precise and focused presentation of your Business Idea with an Execution Plan is a must.
Interest RatesInterest Rate on Business Loan Amount is one of the most crucial factors, which can affect the profitability of a Business Operation/Process. Interest Rate is a high contention parameter while considering a Lender for Business Loan. It is an established Good Practise to always compare Interest Rates of various Lenders before signing up with the best possible option. A higher interest rate shall be a monthly burden on company's Monthly Cash Blow, Capital Budgeting and vice-versa. Interest Rates for Business Loans can be availed in two formats :
- Fixed Rate of Interest : Fixed Rate of Interest during the Entire Duration of Loan Servicing Period.
- Floating Rate of Interest : Interest Rates can vary from time to time, based on revision of MCLR by Banks/Lenders.
- Business Loan : StartUp's
- Business Loan : Micro, Medium and Small Enterprises (MSME's)
- Business Loan : Short Term Fund Raising (Short Term Capital)
- Business Loan : Bridging Loan
- Business Loan : Working Capital Loan
- Business Loan : Against Property / Assets
ID Proof (any one)
- Driving License (DL)
- PAN Card
- Aadhaar Card
Residence Proof (any one)
- Utilities Bill (Water/Electricity) - latest
- Ration Card
- Rent Agreement (notarized)
- Bank Statement (where salary/income is credited)
Office Address Proof
- Rental Agreement / Property Proof of Ownership
- Salary Slips (for the last three months)
- Income Tax Returns (last three years)
- Investments (FD, Shares, Assets etc)
- Latest Passport Size Color Photographs
What is the Maximum amount for a Business Loan?The Maximum Amount of Business Loan is a relative term. It solely depends upon the company's Credit Worthiness. The Credit Worthiness of a company is established via Company's Performance (Past & Current) which is measured by the company's Balance Sheet, Income Statements and Cash Flow's. It also depends upon number of years the company has been in business and The Quality of Assets (including Property) owned by the company, at the time of Business Loan Application.
Does CIBIL score matter when it comes to Business Loan ?Yes. A good (high) CIBIL Score and Clean Credit History is very important. All lenders refer to CIBIL score before making a final decision on Business Loan. CIBIL Score can be a Deal Maker or a Deal Breaker.
What is the disbursal time for Business Loan?Business Loan Disbursal starts in 72 Hours (working days) after Complete Document Submission by Client. contact us
What is the Tenure for Repayment of Business Loan ?Business Loan Repayment Tenure varies from 1 year (12 months) to 4 years (48 months). It depends upon the amount of loan, client credentials and terms of agreement with the lenders.
Are there any Hidden Charges or Additional Charges for Business Loan ?There is no Processing Fees by Klariti TaxCorp LLP for processing Business Loan cases. Also, there are Zero Hidden Charges for Loan Processing.
- Loan Eligibility Calculator
- EMI Calculator
- Tax Benefit Calculator