Documents Required for Business Loan
Business loans are lending products often used by startups, MSMEs, business owners and other business entities. This type of information about documents required for business loan are provided by several banks and financial institutions for business related purposes. Being the unavoidable truth that finance is the bloodline of every business, whether you want to start a new business or expand an existing business.
However, in order to qualify for a business loan, an borrower must submit an application form with necessary documents, besides an application form; there are other requirements required by the lender.
Failing to submit the mandatory document can lead to loan rejection. Therefore, make sure you keep the below-mentioned paperwork done before approaching the bank for what is business loan.
Documents required Partnership firm LLP – Business loan
- Both passport-sized photographs.
- Clear copy of proprietor's PAN Card.
- Address proof: - Passport and Voter ID Card of Proprietor’s.
- Office address proof: - Recent telephone bill and electricity bill.
- Copy of GST Return for the last year.
- Copy of GST Registration and firm registration certificate.
- Provisional financial year 2019 – 20.
- Income Tax Return computation, all scheduled and annexure, profit and loss account, tax audit report, and balance sheet.
- Copy of agreement to sell.
- The proprietor's updated bank statement of saving account for last 6 months.
- Last 1-year updated CC (Cash Credit) Account, Current Account, Overdraft Account.
- Provide repayment scheduled and sanction letter, if running any loan.
- Property documents with chain and sanction MAP.
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