• Business Loan
    Business Loan

Business Loan

Business Loan can be Secured or Unsecured, Secured Business loans which can be availed for your business use with providing security, collateral or guaranty.
Unsecured Business loans which can be availed for your business use without providing any security, collateral or guaranty. Business Loans could be taken for your business expansion or any other immediate business requirement.
Whatever your business financial situation if you are looking to grow your business, purchase new premises, tide your business over a financially challenging slump or until Letters of Credit comes in or project documents are signed and deposits banked our consultants can offer you workable, economical solutions.
We analyze your business goals and your financial needs to zero-in on a business planning process that would work best for your company’s growth. SBC Wealth Craft is given strength by a dedicated team of highly experienced professionals who have walked the corporate planet so far as Chartered Accountants, MBAs, Ex-Bankers, Lawyers and IT Experts until they donned the role of a business consultant.
Business Loan can be used for following :

  • Business requirements
  • Working Capital requirement
  • Business expansion
  • Other financial requirement / Investment


Eligibility

For Self Employed (Private Ltd. Co. and Partnership Firms) include Private Companies and Partnership firms in the Business of Manufacturing, Trading or Services.

  • Minimum Turnover of Rs. 40 Lacs.
  • Years in business: Minimum of 3 years in current business and 5 years total business experience
  • Business must be profit making for the last 2 years
  • Minimum Annual Income (ITR): Rs. 1.5 Lacs p.a.



For Self Employed (Individuals). Include - Sole proprietors, Partners & Directors

  • Minimum age of Applicant: 21 years
  • Maximum age of Applicant at loan maturity: 65 years
  • Years in business: Minimum of 3 years in current business and 5 years total business experience
  • Minimum Annual Income (ITR): Rs. 1.5 Lacs p.a.

 

Bank Amount Interest Rate Processing Fees Prepayment Charges Apply
           

HDFC

2 Lacs to 30 Lacs 17.00-22.00% - -

Religare

Min 10 Lacs   - -

Standard Chartered

From 10 Lacs to 10 Cr. 15.00-21.00% 2% 3-5%



Document Required
For Self Employed (Private Ltd. Co. and Partnership Firms)

  • PAN Card
  • Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
  • Bank Statement (latest 6 months bank)
  • Last 2 Years ITRs (computation of income) Balance Sheet and Profit & Loss a/c. Audited or Certified by a CA
  • Proof of continuation (ITR/ Trade license /Establishment /Sales Tax certificate)
  • Sole Proprietor Declaration or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association & Board resolution (Original)



For Self Employed (Individuals). Include - Sole proprietors, Partners & Directors

  • Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
  • Address Proof (Ration card Tel/elect. Bill/ Lease agreement/ Passport/ Trade license /Sales Tax certificate)
  • Bank Statement (latest 6 months)
  • Latest ITR along with computation of income, Balance Sheet & Profit & Loss a/c for the last 2 yrs. Audited or Certified by a CA
  • Proof of continuation (ITR/Trade license /Establishment /Sales Tax certificate)
  • Other Mandatory Documents (Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)


Process/Steps
Application : You will need to fill in a loan application with accurate details, personal and business loan requirement, details of the property intended for Business etc.

Documentation : Along with the application form and the credit documents, you may have to pay a processing fee to the bank. An upfront fee could be collected to maintain your loan account records, sending income tax certificates every year, maintaining post-dated cheques. etc

Investigation : Next comes the loan Investigation stage, the stage at which the loan process gains actual momentum. This could start with a personal discussion followed by the bank's field investigation.

Valuation and legal check : In Case of Secured Business Loan, Valuation and legal check on property and papers is the next stage where the focus of the bank will shift to the property that you intend to mortgage. Make sure the property papers and the relevant NOCs are in place. The bank's lawyer will check the property papers for their legality. The bank may also send an expert to visit the property. This expert could be a bank employee or an associate with a realty firm.

Sanctioning of the loan : Loan sanction is the next process in the series. At this stage, the bank has checked your financial credentials based on criteria such as your income, Turnover, age, qualifications, experience, employer, nature of business, etc. They work out the maximum loan eligibility, and an indicative loan amount that the bank is willing to offer.

Disbursement : Once the bank has ascertained all that it needs to be assured of you as a client, the property as a security (In Case of Secured Business Loan), and your repayment capacity, it will disburse the loan. The bank does not enquire about the purpose for which you use the loan. Though, it stipulates that the loan should not be utilized in speculative activities.

Application Form

Required *