Bank loan – Hello friends welcome to your government job guru today we are going to tell you about how to apply for a loan i.e. how to apply for a loan so friends you read this article till the end what conditions you have to fulfill. Read the complete information.
Friends if we want to start a business we are first worried because we don’t have enough money to start a business so now banks and NBFCs provide business loans to people to start a business to expand their business and meet other business needs there are two types of business loans they are secured and unsecured Loans for secured loans Applicants have to provide any security guarantee to the bank however that means also in case of unsecured loans the bank does not need to provide any security guarantee How to get a loan to start a business and what conditions are required Read full article and know information.
Friends, most of the banks are offering both safe and secure business loans like NBFC Letter of Credit, Bill Discounting, Equipment Payment Finance, POS Loan, Term Loan, Working Capital Loan, Government Scheme, Drop on Loan etc.
Friends, the minimum loan amount provided under business loan starts from Rs.10,000 which can be availed from Small Finance Box SFBs, Regional Rural Banks RRBs or Micro Finance Institutions MFIs Borrower Loans up to Rs.2 crore from leading private and public sector banks and NBFCs Apart from this, business loans are also available for start-ups and MSMEs at competitive business interest rates for starting small businesses.
Eligibility criteria for business loan
- How long has it been going on for a year or more
- Minimum annual turnover of existing business is twelve lakhs and should
- CIBILscore 750 and above
- The applicant should not have any record of previous loan defaults