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HBS FINANCIAL SERVICES - BUSINESS LOANS
Business loans are an important part of a company's survival. Money is essential to making companies grow and in making investments. Business Loan is an unsecured and Secured loan for Business use which May or May not be require any security or collateral and can be availed for Business purpose only. The amount of loan can be ranged from Rs. 1,00,000 – Rs. 50 lakh & the tenure for repaying the loan varies from 1 to 5 years.
BENIFITS OF BUSINESS LOANS
Unsecured and Secured Loan :A Business Loan May be a secured or Unsecured loan.Bank see your all the previous loan track and financials transactions, and on the basis of your profit and loss a/c he will provide the eligible amount of Loan.
A Business Loan can be accessed with minimal paperwork or documentation & doesn't take much time to procure as against a Secured Loan.
Business Loan is a means to fulfill bigger loan requirement, you can take a loan ranging from Rs. 1,00,000 to Rs. 50,00,000 lakh.
The Business Loan interest rate ranges from 16% to 21%, you must go for that loan which is offering you at the minimum rate.
It is a fee charged by banks from the borrowers to process their loan application; it is normally between 1-2 percentage of the loan amount.
| DOCUMENTS REQUIRED | |
| SALARIED | SELF EMPLOYED |
| Pan card | Pan card |
| Address proff | Address proff |
| 3 Months latest salary slip | Business licence |
| FORM-16 latest 1 year | Latest 2 years ITR |
| 6 Months latest bank statement | 6 Months latest bank statement |
| Photograph | Photograph |
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