Documents For Business Loan Application

Signed Application Form

Identity Proof (PAN)

Residential Address Proof

Last 3 years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA.

Last 12 months bank account statement (self and business)

Certificate and Proof of Business Existence

Business Profile

Office address - ownership/ lease / rent agreement/ utility bill

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Loan Amount	Cashback
Rs. 12 lakh and above	Rs. 2,500
Rs. 8 lakh - less than Rs. 12 lakh	Rs. 1,500
Rs. 6 lakh - less than Rs. 8 lakh	Rs. 1,000
Rs. 4 lakh - less than Rs. 6 lakh	Rs. 500
Less than Rs. 4 lakh	Rs. 200

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Business Loan News - Jun 2019

2019-06-14 : Edelweiss ties up with Bank of Baroda for MSME loans
ECL Finance, a unit of Edelweiss Financial Services had signed an agreement with Bank of Baroda (BoB) to co-lend to small businesses. Under the arrangement, both the entities will jointly offer loans at discounted rates as well as expertise to micro, small and medium enterprises (MSMEs) besides self-employed as well as priority sector groups to help them grow.
2019-06-14 : Fullerton India Home Finance Company opens a new branch in Vijayawada
NBFC Fullerton India Home Finance Company Limited which operates under the brand Grihashakti has launched its new branch in Vijayawada at Bhaskar Plaza, 4th Floor, Gopala Reddy Road, Governorpeta. With the opening of this new branch, the total number of bank branches has reached 82 in Andhra Pradesh. The bank branch will offer facilities like savings account deposits, loans, including personal loans, and business loans.
2019-06-10 : Corporation Bank plans to raise Rs. 4,000 crore capital in two years
Public sector lender, Corporation Bank is planning to raise capital of up to Rs. 4,000 crore over two years to augment its retail loan growth. The lender is planning to look at combinations of equity, tier I capital based on market conditions. The bank has said that it will use the raised funds to expand its loan book that includes home loans and business loans.
2019-06-07 : Repo rate cut by RBI to make loans affordable to MSMEs
The repo rate cut by the RBI will help boost economy of India by making loans affordable to MSMEs, exporters and home buyers. The rates have been reduced from 6% to 5.75% respectively. Besides this, RBI has also announced to remove charges from NEFT and RTGS transactions to promote digital India initiative.
2019-06-06 : ICICI Bank announces the launch of dedicated MSME center in Bengaluru to avail business loans
In a bid to offer hassle-free business solutions to MSMEs and start-ups, private sector lender, ICICI Bank has launched a centre in Bengaluru. The center would provide a host of services including working capital loans of up to Rs. 20 crores, business loans of up to Rs. 1 crore, instant overdraft facility of up to Rs. 15 lakh and cash management services, among others.

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