A proprietorship, or sole proprietorship, is a business owned and operated by a single individual. The owner has unlimited liability, meaning personal assets can be at risk if the business incurs debts.
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A partnership business is a formal arrangement where two or more individuals share ownership and operation of a business. In this structure, partners contribute capital, share responsibilities, and split profits and losses according to the terms of their partnership agreement.
A Private Limited Company (Pvt Ltd) is a type of business structure that limits the liability of its owners (shareholders) to the amount they have invested in the company.
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Age: 21-52 years
Business Turnover: ₹5000000/anum
Business Vintage: 2+ years
Good credit score (650+)
Interest Rate
16% - 24%
Max Amount
₹ 70 Lakhs
Tenure
12 - 48months
Processing Fee
2% of loan amount
A proprietorship business, or sole proprietorship, is a type of business entity owned and run by a single individual. This structure is common among small businesses and entrepreneurs due to its simplicity and ease of establishment. Here’s a breakdown of its main features:
The business is owned by one person, who has full control over decision-making and operations.
The owner is personally liable for all debts and obligations of the business. This means personal assets (like a home or savings) can be at risk if the business incurs debt or faces legal issues.
Income generated by the business is reported on the owner’s personal tax return. This pass-through taxation can simplify the tax process.
A partnership is a business structure where two or more individuals share ownership and management responsibilities. This arrangement allows partners to collaborate, pool resources, and share profits and losses. Here’s an overview:
Partnerships involve two or more people who contribute to the business, sharing profits, losses, and decision-making.
A partnership is often governed by a partnership agreement that outlines roles, responsibilities, profit-sharing, and dispute resolution methods.
Partnerships typically operate as pass-through entities, meaning profits and losses are reported on the partners' personal tax returns, avoiding double taxation.
A Private Limited Company (Pvt Ltd) is a business entity privately held and limits the liability of its shareholders. Commonly used for small to medium-sized enterprises, it offers a professional management structure and flexible ownership.
Ownership is divided into shares, which are held by a small number of individuals or entities. Shares cannot be publicly traded.
Typically requires a minimum of two shareholders and can have a maximum (as per jurisdiction, often 200).
Managed by a board of directors. Shareholders can also hold director roles and participate in company management.
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| Age Requirement | Borrower should be aged between 25 and 65 years. |
|---|---|
| Eligible Entities | Entrepreneurs running their own businesses can apply to fund operations. |
| Revenue Requirement | For larger loans, annual revenues may need to be between ₹25 lakhs and ₹1 crore or more. |
| Experience Criteria | Businesses should show 2–3 years of profitability and financial stability. |
| Profitability | Lenders look for consistent or increasing profits through recent P&L statements. |
| Minimum Revenue | Many lenders may require a minimum annual revenue of ₹1–1.5 lakhs. |
Read on to know the documents required to apply for our Business Loan.
The list of documents to be submitted varies based on the type of business entity. Submit the following documents to begin the loan process:
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