Document Required for Business Loan
If you have a lack of cash and you are not able to manage the cash flow. So, you can opt for a business loan to upgrade business equipment and grow the business by the option of business loans. Each bank has specific requirements, criteria, and eligibility factors.
The list of documents is given below. These documents required for business loans are essential documents it may vary from lender to lender. You can visit our website financeseva to check your eligibility for a business loan and you can apply from there.
To apply for a business loan, you need to submit the following documents along with the business loan application:
Identity proof: For individual, company, or firm – submit valid identity proof and PAN (Permanent Account Number) Card.
Address proof: Voter ID Card, Ration Card, Passport or Driving License
Bank Statements: Latest bank statements for at least 6 months
Income Documents: This unsecured business loans would include the latest ITR (Income Tax Return) along with the computation of income, balance sheet, profit & loss account for the past two years. Make sure that the financials are audited by a reputed chartered accountant.
Proof of Continuation: In business continuation proof, you can submit ITR/trade license, sale certificate/establishment
Other mandatory documents: Sole proprietorship declaration, partnership deed, certified true copy of memorandum & articles of association and board resolutions.
These are basic documents that are required for the application for a business loan.