Documents Required for Business Loan
A business loan is an amount of capital that can be opted to invest in a new or an existing document required for business loan. It offers the flexibility to utilize the funds. These funds can be used for several purposes such as overall capital expenditure including purchase of equipment, plant and machinery, buying office space & hiring staff, consolidating debt and many more.
The process of availing a business loan is not complicated anymore, there will be quick disbursal and easy to apply.
The borrower is required to submit some documents while applying for a business loan. Listed below are the common documents.
While applying for a business loan, you need to submit certain documents to support your application. Some of the common required documents are listed below: -
Application Form- The applicant needs to fill out the application with required information and affix a passport sized photograph.
Proof of Identity- Aadhaar Card/PAN Card/Voter ID/Passport/Driving License
Proof of Address- PAN Card/Ration Card/Telephone Bill/Lease Agreement or Utility Bill
Proof of Age- Passport/PAN Card/Voter ID
Business Establishment- Certification of Registration, MOA/AOA and Copy of Board Resolution.
- Financial documents for the previous 2 years
- Bank statement of a minimum of at least 6 months.
- The balance sheet and profit & loss should be audited by a registered Chartered Accountant for the previous two years.