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:
Allopathic doctors, chartered accountants, company secretaries and architects who are practicing their profession. Proof of qualification needs to be shared.
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.
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:
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|
|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|
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.
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.
You can apply in five easy steps if you have requirements for business loan for new business:
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