Documents required for a Business Loan
The documentation for most personal unsecured loans is simple and uncomplicated and as is the case if you have been regular in filling your documents for a business loan. As the loans have in general a larger amount, most banks, NBFCs or private lenders are more careful in checking your particulars before approving a business loans for a company.
In most cases these documents are simple and do not need a lot of thought but if you have neglected to file everything correctly then it would be difficult to get a loan from any of the above institutions. So before your apply for a business loan, be careful to check your documents.
Get your Business LoanHere is the basic documentation required for getting a Business Loan:
- A copy of the PAN card of the person or company
- An identity proof which might include any of Aadhar Card, Passport, Voter ID, PAN Card or Driving License
- An Address Proof which can consist of either of Aadhar Card, Passport, Voter ID or Driving License
- Bank statements from the last 6 months
- ITR statement from the last year as well as audited balance sheet and P&L statement for the past 2 years
- Vintage proof or continuation proof which includes ITR, Trade License, Establishment Registration or Sales Tax Certificate
- Cash Flow statements
- Debt Obligations
- Other documents as required which can include declaration of ownership, MoA, Resolutions, Power of Attorney or any other document required by the bank/NBFC or as required by the lender
