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Business Loan Eligibility and Documents

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Business loan eligibility criteria

Availing a business loan from Bajaj Finserv is simple. Applicants just need to fulfil the following eligibility criteria to avail the benefits of the loan.


  • The applicant must be between 25 to 65 years old to apply for a business loan.
  • Applicant must also own a business running for at least 3 years.
  • Income Tax Returns for the applicant’s business should be filed for a minimum of 1 year.

Documents required for a business loan

The documentation requirements for business loans are minimal. You simply need to hand over the following documents to our representative.


  • Identity proof – Applicants need to provide identification proof with appropriate KYC documents including Aadhaar card, voter ID, PAN card, passport, driving license or any other valid document issued by the government.
  • Address proof – Other than KYC, documents like passport, electricity bill, ration card, telephone bill, lease agreement, trade license or certificate of trade license can be used as address proof when applying for a Bajaj Finserv Business Loan. Applicants can also opt for any other document issued by the government as address proof to complete their loan application.
  • Financial documents – The common business loan documents list that self-employed professionals and non-professionals need to submit are as follows.
    • A copy of Income Tax Return filed for at least one year.
    • Bank account statement for the last 6 months.
    • Balance Sheet and Profit & Loss Statement for the previous 2 years, audited by a CA
  • Business ownership proof – The proof of business ownership required for a Bajaj Finserv Business Loan depends on the type of business and applicant profile. Documents for various business profiles are mentioned below.
    • For self-employed professionals – Registration document in case of sole proprietors. Other proofs of business identity for self-employed professionals include documents issued in the concern’s name like PAN card, payment receipt for municipal tax, electricity bill, IT returns, etc.
    • For self-employed non-professional – Sole proprietor’s registration document, individual identity proof of the owner, IT Returns, at least 6 months of bank statements of the owner, statement of creditor/book debt/periodic stock, GST return, etc.
    • For other entities (partnerships and Private Limited companies) – Partnership agreement in case of partnership firms and Certificate of Commencement/Article and Memorandum of Association for Private Limited companies. Other supporting documents for these concerns including returns of Income Tax, Goods and Services Tax, registration certificate under the Shops and Establishment Act, etc. Besides, partners and directors also need to submit individual proofs of identity.

List of Applicable Business Loan Customer Profiles

Self Employed Professionals (SEP)

Allopathic doctors, chartered accountants, company secretaries and architects who are practising their profession. Proof of qualification needs to be shared.

Self Employed Non-Professionals (SENP)

Traders and manufacturers, retailers, proprietors, service providers, etc.


Partnerships, limited liability partnership, private limited and closely held limited companies. Other constitution types depending on their profile on a case to case basis.

Based on your meeting the business loan eligibility criteria, you can get the funds in the following cities, up to a limit of Rs.45 lakh.

Bajaj Finserv’s lending criteria for business loans is simple and documentation requirements for business loans are minimal, making the application process easy and hassle-free for you.

Business Loan Eligibility And Documents - FAQs

How do I know if I qualify for a business loan?

Business loan from Bajaj Finserv comes with easy eligibility and requires only a few documents for qualification. Following is the business loan criteria that you need to fulfil:

  • A Residing citizen of India with age limit 25 to 55
  • Own a business running for 3 years and ITR filed for 1 year
  • Your CIBIL score should be 750 or more

What is the complete list of documents required for new business loans?

Following is the required business loan documents checklist:

Mandatory Business Loan Documents
Identity proof Aadhaar card/Voter ID/PAN card/Passport/Driving License/Valid Document issued by the Government
Address proof Passport/Electricity Bill/Ration Card/Telephone Bill/Lease Agreement/Trade License/Other Document issued by the Government
Financial documents
  • A copy of Income Tax Return filed for at least 1 year
  • Bank account statement
  • Balance Sheet and Profit & Loss Statement
Ownership proof for self-employed professionals Registration Document/PAN card/electricity bill/IT returns/municipal tax payment receipt
Ownership proof for self-employed non professionals Registration Document/Owner Identity Proof/IT Returns/Bank Statements/GST Return/Statement of Creditor/Book Debt/Periodic Stock/
Ownership proof for partnerships entities Partnership Agreement/ITR/GST/Shop Registration Certificate/Identity Proofs of Partners
Ownership proof for Pvt. Ltd. companies Certificate of Commencement/Article and MOA of Pvt Ltd company/ITR/GST/Shop Registration Certificate/Identity Proofs

How to calculate business loan eligibility?

Your business loan eligibility depends on various factors such as CIBIL score, tax payment behaviour, credit utilisation ratio and stable income source. To avail a high-value business loan, it is important to have a good CIBIL score of 750 or higher as your credit score plays an important role in the eligibility. It is also important to pay your taxes and EMIs on time to have a robust credit score to meet your big-ticket business expense.

Bajaj Finserv provides you a business loan eligibility calculator, an online tool that can help you to estimate the amount of loan you can avail based on your eligibility.

Can a sole proprietor get a business loan?

Business entities, self-employed professionals and non-professionals can get a business loan after fulfilling the simple eligibility criteria. However, the documents required for a Bajaj Finserv Business Loan depend on the business and applicant profile.

In the case of a sole proprietorship, you must provide sole proprietor's registration document as a proof of ownership. Apart from this, you should also keep a business loan document list ready which comprises PAN card, IT returns, bank statement for six months, electricity bill, GST return, statement of creditor/book debt/periodic stock.

How do I apply for my small business loan?

You can apply in five easy steps if you have requirements for business loan for new business:

  • Click on Apply now to open the online application form
  • Fill in the form with your personal and business details
  • Upload the required documents such KYC, bank account statement, GST return etc.
  • Our representative will get in touch in touch with you in 24 hours with your loan offer
  • After business loan eligibility check and document submission, the loan amount will be disbursed within 24 hours*.


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