Required Documents for Business Loan
Whether you want to grow or expand your existing required documents for business, you can avail a business loan from banks and financial institutions. There are several banks and NBFCs that offer business loans at attractive rates. However, to avail business finances, one needs to submit the necessary documents to verify the authenticity of the borrowers. Based on submitted documents the loan process will be taken forward by a lender. Hence, it is essential to cross-check the compulsory documents required for a business loan before approaching any lender.
Document required for self-employed individuals
Identity Proof – Aadhaar Card/ PAN Card/ Voter ID/ Driving License / Passports
Address Proof- Telephone Bill/ Electricity Bill/ Passport/ Ration Card/ Rent/Lease Agreement
At least last 6 months bank statement
Latest ITR along with computation of income, Profit and Loss Statement, Balance Sheet audited by reputed CA
Business Establishment proof- Incorporation certificate/ Trade License/Sale Tax Certificate
Other mandatory documents- Sole proprietorship, copy of partnership deed, certified true copy of memorandum & article of association that must be certified by director and board resolution.
Document required for business loan self-employed non-professional
- Proof of Identity – PAN CARD/Aadhaar Card/Passport/Driving License
- Proof of Address – Utility Bill/Electricity Bill/Ration Card/Passport/Lease Agreement
- Latest 3-year ITR along with computation of income
- At least 6 months bank statement
- Last 3-year sale tax returns
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