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Business Loan Required Documents

Unique Business Loan variants | Up to ₹ 1 Core* | Tenure up to 60 months

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Documentation needed for a Business Loan

The Business Loan application process requires some documents to be submitted, which prove that the information on your application is true and therefore you are eligible for this loan. These legal papers are of great importance in determining how capable you are of repaying your obligations, how strong the position of your business is, and whether creditors can be obliged to present you with the money you need. Although the exact list of corresponding Business Loan documents may vary from one lender to another depending on the loan type, nevertheless the documents usually include:

Document Category Business Loan Documents Required
Proof of Identity Voter ID Card / Photo ID issued by GOI / Passport / Driving License / Aadhaar Card or any other government-issued ID proof.
Proof of Address Aadhaar Card / Voter ID Card / Property Tax Receipt / Driving License / Utility Bill / Registry Copy /Property Tax Receipt / Lease or Rent Agreement
Business Continuity Proof Certificate of incorporation VAT / Excise / Sales Tax / Service Tax Registration, Trade License / Copy of partnership deed / Registration Certificate issued by RBI or SEBI / Certificate of Practice
Signature Proof Any one of the following:
  • Passport
  • PAN Card
  • Banker’s Verification
Proof of Income Latest ITR, GST returns for the financial year, Latest audited financials, Last 6 months bank statement
Other Documents (if applicable) Profit and loss statements, Balance sheets, and Tax returns for the past few years to showcase your business’s financial performance.
* Any other document required by the lender

Business Loan EMI Calculator

50K 1Cr
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Guidelines for Submitting Business Loan Documents

The necessity of the documentation of a Business Loan is the most important step for a successful loan application. The first thing to do in this regard is knowing the required documents and that is a crucial step to the smooth and stress-free submission. To simplify this process I kindly request you to follow the given guidelines:

Organise Your Documents

Ensure that you collect all the essential documents as specified by the lender. Organize and categorize them in a methodical way to prevent any potential confusion when submitting them.

Make Copies

Produce photocopies or scan the set of required original documents before submitting them for a Business Loan. Thus, you will remain in possession of multiple copies of the documents in case of any such loss or misplacement of documents.

Organise Your Documents

Ensure that you collect all the essential documents as specified by the lender. Organize and categorize them in a methodical way to prevent any potential confusion when submitting them.

Organise Your Documents

Ensure that you collect all the essential documents as specified by the lender. Organize and categorize them in a methodical way to prevent any potential confusion when submitting them.

Verify Requirements

Before proceeding, it is vital to double-check the lender's specific requirements regarding the format, size, and any additional checklist for Business Loan documents they may require. It is imperative to ensure that all the documents are current and meet their criteria.

Submit Online or Offline

Establish the submission method favored by the lender. It is important to note that some lenders may offer the convenience of online portals, WhatsApp, or email submissions, while others may require the physical submission of copies at a branch office.

Prepare a Cover Letter

Please enclose a cover letter that provides a summary of the enclosed documents, along with any additional information or clarifications you would like to include.

Review Before Submission

Thoroughly examine all documents to ensure accuracy and completeness. Verify the checklist supplied by the lender to confirm that nothing has been omitted.

Timely Submission

To avoid any potential delays in the processing of your loan application, it is essential to submit all the required documents within the designated timeframe. It is also important to make copies of all the documents you submit for your records. By following these guidelines, you can ensure a streamlined and effective submission process for your Business Loan documents.

Apply for a Business Loan in 5 quick steps

1
Select your loan amount and tenure
2
Provide your basic personal and business related information
3
Review your loan amount and tenure
4
Confirm and submit your loan application
5
Get the loan disbursed
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Frequently Asked Questions (FAQs)

When applying for Business Loans, it is generally required to submit various documents such as business registration documents, proof of identity, proof of address, financial statements, bank statements, proof of ownership, a business plan, KYC documents, and any additional documents specified by the lender. The specific documents needed may vary based on the lender's requirements and the nature of the loan.

To get a Business Loan approved for an online business, follow these steps:

  • Prepare a detailed business plan and financial projections.
  • Gather necessary documents such as bank statements, tax returns, and business registration documents.
  • Research and compare lenders offering online Business Loans.
  • Apply through Grahaan Capital's online loan application, providing accurate information and uploading the required documents.
  • Await approval, which may involve verification and assessment of your business's online presence and financial viability.
  • Once approved, review the loan terms, sign the agreement, and receive the funds directly in your bank account. Hero FinCorp offers a convenient online loan application process for quick and efficient Business Loan approvals.
The credit score required for a Business Loan can fluctuate depending on the lender and the specific loan program being offered. Typically, lenders favor a credit score of 700 or higher to demonstrate the borrower's creditworthiness and minimize the risk of default. Nevertheless, certain lenders may take into account lower credit scores, considering additional factors such as the performance of the business and the presence of collateral.

Business Loan documents are important as they serve multiple purposes:

  • Verification: Documents help lenders verify the authenticity of the borrower, their business, and financial information.
  • Risk Assessment: Lenders assess the borrower's creditworthiness, business stability, and ability to repay the loan based on these documents.
  • Legal Compliance: Documents ensure compliance with regulatory requirements, protecting both the lender and the borrower.
  • Loan Evaluation: Financial statements and business plans help lenders evaluate the feasibility and profitability of the business.
  • Record Keeping: Documents create a record of the loan transaction, terms, and conditions, facilitating transparency and future reference.
It is essential to submit Business Loan documents as they provide crucial information for lenders to appraise the borrower's creditworthiness, analyze the business's viability, verify legal compliance, and determine the loan terms. These documents serve as substantiation of the borrower's financial stability, business performance, and ability to repay the loan.
Most of the time, you can access the Business Loan documents list online. We provide the list of required documents here, making it convenient for borrowers to download the necessary forms and checklists. This helps simplify the document submission process for a Business Loan application.
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Find customized Business Loans

Startup Business Loan
Small Business Loan
Women
Professionals
Doctors
Chartered Accountants
Working Capital Loan
SME/MSME Loan
Machinery Loan
Pre-approved
Manufacturer
Traders