Business Loans in Bangalore
Bangalore has transformed to become the core business hub in India, where many big companies and successful startups operate. However, for a city with the largest business scale, the need for constant capital from companies is also higher than in other Indian cities.
Although there are numerous options for entrepreneurs in Bangalore to raise capital for their business, one of the ideal options is through unsecured business loans in Bangalore. Such loans can ensure that the entrepreneurs have enough funds to support a host of business activities such as working capital, marketing, manufacturing, acquisition, or expansion.
IIFL Finance has designed business loans in Bangalore to cater to all the capital needs of businesses operating in Bangalore. The loan products come with attractive interest rates where business owners can raise a maximum of Rs 30 lakh within 48 hours.
ApplyBusiness Loans in Bangalore Features and Benefits
Lenders have designed business loans in Bangalore after analysing the capital needs of businesses in this city. Small business loans in Bangalore are an ideal product as they offer numerous benefits to entrepreneurs. These are listed below:
Business Loan in Bangalore EMI Calculator
Eligibility Criteria for Business Loans in Bangalore
Similar to other business loans, business loans in Bangalore also come with a set of eligibility criteria the business owners must fulfil. Here are the eligibility criteria for business loans in Bangalore:
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It is an established business operating for more than six months at the time of application.
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The minimum turnover is Rs 90,000 in the last three months from the time of application.
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The business does not fall under any category or list of blacklisted/excluded businesses.
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The office/business location is not on the negative location list.
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Charitable organisations, NGOs, and trusts are not eligible for a business loan.
Documents Required for Business Loans in Bangalore
Before approving unsecured business loans in Bangalore, lenders require some necessary documents to be submitted by the business owner to ensure they fulfil the eligibility criteria. Here are the documents required for availing of business loans in Bangalore:
KYC documents – Identity proof and address proof of the borrower and all co-borrowers
PAN Card of the borrower and all co-borrowers
Last (6-12 Months) months bank statement of main operative business account
Signed copy of standard terms (term loan facility)
Additional document(s) for credit assessment and processing the loan request
GST Registration
Previous 12 months’ bank statements
Proof of business registration
PAN Card and Aadhar Card copy of the Proprietor(s)
Deed copy and company PAN Card copy in the case of partnerships
Types of Business Loans available to Enterprise Owners in Bangalore
Some of the business loans available to a business in Bangalore includes:
How To Apply For A Business Loan in Bangalore
Here is how you can apply for an ideal business loan in Pune with IIFL Finance:
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Visit IIFL Finance’s website and steer to the business loan section.
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Click “Apply Now” and fill out the application form.
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Submit all the relevant documents needed for completing KYC.
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Click the “Submit” button to complete the loan application process.
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After review, IIFL Finance will approve the loan in under 30 minutes and disburse the amount within 48 hours into the borrower’s bank account.
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