Business Loan Online (Digital)
For every business, funding is a key concern, especially for scaling up. However, obtaining loans is not always simple, particularly for small businesses. This is where Bankwise My Business comes in to support. Our financial services are designed to help you overcome financial constraints and achieve your business goals.
Features
Avail a loan up to ₹20 lakhs (up to ₹25 lakhs in select locations) without any collateral, guarantor, or security.
Suitable for various business needs, including business expansion, working capital, or other personal requirements.
Eligibility
Eligible applicants for a Business Loan include:
- Self-employed individuals, proprietors, private limited companies, and partnership firms in manufacturing, trading, or services.
- Minimum turnover of ₹40 lakhs.
- At least 3 years in the current business, with 5 years of total business experience.
- Profit-making for the previous 2 years.
- Minimum Annual Income (ITR) of ₹1.5 lakhs per annum.
- Applicant should be at least 21 years old at the time of application and not older than 65 years at the time of loan maturity.
Fees and Charges
As per the policy of the lender bank.
Documentation Required
- PAN Card – For Company/Firm/Individual.
- Proof of identity (Aadhaar Card, Passport, Voter's ID Card, PAN Card, Driving License).
- Proof of address (Aadhaar Card, Passport, Voter's ID Card, Driving License).
- Bank statement of the previous 6 months.
- Latest ITR along with income computation, Balance Sheet, and Profit & Loss account for the previous 2 years, CA certified/audited.
- Proof of continuation (ITR/Trade license/Establishment/Sales Tax Certificate).
- Other mandatory documents (Sole Prop. Declaration, Certified Copy of Partnership Deed, Certified Memorandum & Articles of Association, and Board Resolution).
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