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PROPRIETORSHIP

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.

Business loan

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PARTNERSHIP

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.

Business loan

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PVT LTD

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.

Business loan

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Business Loan

1

Get high Business Loan Eligibility

Before applying for the loan, prepare a business plan, know your credit score, decide the loan amount, do some market research on available business loan options, and keep the documents ready.

2

Common Documents Required

Proof of address & photo identity proof of the promoters, business proof, income proof, partnership deed for partnership firm, articles of association, memorandum of association, board resolution, PAN card, etc.

3

Criteria for Business Loan Approval

Applicants should be aged between 21 to 65 years, having business vintage of a minimum of 1-2 years. The minimum business turnover and a minimum annual turnover as per the ITR will be required. The business should be profit-making for at least the last 1 year.

PROPRIETORSHIP BUSUNESS LOAN

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:

Ownership

The business is owned by one person, who has full control over decision-making and operations.

Liability

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.

Taxation

Income generated by the business is reported on the owner’s personal tax return. This pass-through taxation can simplify the tax process.

PARTNERSHIP BUSINESS LOAN

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 of the key aspects of partnerships:

Ownership

Partnerships involve two or more people who contribute to the business, sharing profits, losses, and decision-making.

Agreement

A partnership is often governed by a partnership agreement that outlines roles, responsibilities, profit-sharing, and dispute resolution methods.

Taxation

Partnerships typically operate as pass-through entities, meaning profits and losses are reported on the partners' personal tax returns, avoiding double taxation.

PVT LTD BUSINESS LOAN

A Private Limited Company (Pvt Ltd) is a specific type of business entity that is privately held and limits the liability of its shareholders. This structure is commonly used for small to medium-sized businesses. Here’s an overview of its key features:

Ownership

Ownership is divided into shares, which can be held by a small number of individuals or entities. Shares cannot be publicly traded.

Number of Shareholders

Typically requires a minimum of two and can have up to a certain maximum number of shareholders (varies by jurisdiction).

Management Structure

Usually managed by directors, and the shareholders can also be involved in management.

Business Loan Eligibility and Documents

Read on to know the criteria required to apply for our Business Loan.

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Features and Benefits of our Business Loans

Fulfil Your Finasncial Needs

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Fast Disbursal Of Loan

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Flexible Tenure

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Assignment Of Financial Advisore

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Stay Protacted

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Features and Benefits of our Business Loans

Let's Discuss Business Loan Eligiblity Criteria's:
Age Requirement Borrower Shoul be Aghed Between 25 And 65
Eligible Entities Individual entrepreneurs running their own business can apply for loans to fund their operations.
Revenue Requirement Medium and Large Enterprises: For larger loans, annual revenues may need to be in the range of ₹25 lakhs to ₹1 crore or more.
Exprience Criteria A proven track record of profitability and financial stability over the years can strengthen a loan application. Lenders may request financial statements from the last 2-3 years.
Profitable A detailed profit and loss (P&L) statement shows the business’s revenues, costs, and expenses over a specific period. Lenders typically want to see consistent or increasing profits.
Minimum Total Requirement Minimum Revenue: Many lenders may require a minimum annual revenue of ₹1 lakhs to ₹1.5 lakhs.

Required Documents For Business Loan

Read on to know the criteria required to apply for our Business Loan.

As Per Your Business Check Required Documents

Documents Briefing

The list of documents to be submitted varies based on type of business entity. Submit the following documents to begin with the loan process:

  • KYC
    • PAN Card
    • Adhar Card
    • Photo
  • Residence Address Proof
    • Adhar Card / Voter Card / Passport / Utility Bill - Any of One
  • Residence Ownership Proof
    • Electricity Bill / Water Bill / Gas BIll - Any Of one
  • Business Registration Proof
    • GST Certificate / FSSI / Drugs Licence / Gumasta
  • Business vintage Proof
    • GST Certificate / FSSI / Drugs Licence / Gumasta
  • Business Address Proof
    • GST Certificate / FSSI / Drugs Licence / Gumasta / MSMA / Bank Account / Utility Bill
  • Co-Applicant
    • Mother / Father / Sun / Husband / Wife
  • Bank Statement
  • Financials
    • Last 2yr ITR
    • Last 2yr Compition Of Income
    • if , Last 2yr Profit & Lose And Balansheet
    • if Applicable , Last 2yr Independent Audite Report
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Business Loan Reviews

4/5

|

All employees and staffs in IQfin are helpful. They are very co- operative and try to clearly understand customer’s needs. I felt very comfortable dealing with them through for my business loan from ICICI bank
4/5

|

All employees and staffs in IQfin are helpful. They are very co- operative and try to clearly understand customer’s needs. I felt very comfortable dealing with them through for my business loan from ICICI bank
4/5

|

All employees and staffs in IQfin are helpful. They are very co- operative and try to clearly understand customer’s needs. I felt very comfortable dealing with them through for my business loan from ICICI bank
4/5

|

All employees and staffs in IQfin are helpful. They are very co- operative and try to clearly understand customer’s needs. I felt very comfortable dealing with them through for my business loan from ICICI bank
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