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Business Loan Eligibility and Documents

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Business Loan Eligibility Criteria

Getting 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 24 to 70 years*
    (*Age should be 70 years at loan maturity.)
  • The applicant must also own a business that has been running for at least 3 years.

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 such as 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, 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.
  • Financial documents – The common business loan documents list that self-employed professionals and non-professionals need to submit are as follows.
    • Bank account statements for the last 6 months.
    • Balance sheet, as well as profit and 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 ownership 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-professionals – 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 GST returns, 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 practicing 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 partnerships, private limited and closely held limited companies, and other constitution types depending on their profile, on a case-to-case basis.

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?

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

  • Be a residing citizen of India aged between 24 and 70 years*
    (*Age should be 70 years at loan maturity.)
  • Own a business running for at least 3 years.
  • Have a CIBIL score of 685 or higher

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

Here is the required business loan documents checklist:

Mandatory Business Loan Documents
Identity proof Aadhaar card/voter ID/PAN card/passport/Driving license/any other valid document issued by the government
Address proof Passport/electricity bill/telephone bill/lease agreement/trade license/other official documents issued by the government
Financial documents
  • Bank account statement
  • Balance sheet and profit and 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 returns/statement of creditor/book debt/periodic stock/
Ownership proof for partnerships/entities Partnership agreement/ITR/GST returns/shop registration certificate/identity proofs of partners
Ownership proof for private limited companies Certificate of commencement/article and MOA of private limited company/ITR/GST returns/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 685 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 expenses.

Bajaj Finserv provides you with 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 statements for six months, electricity bill, GST returns, 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 statements, GST returns, 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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