- Self Employed Individual
- Professional Individual
Loan given to self-employed, professionals or company without any collateral security is called a business loan.
The sanction of business loan is based largely on the creditworthiness of the borrower and the firm. The bank or the financial institutions will first take a look at your firm’s and your credit score and analyze your credit rating before offering loan. They will also look at your financial statements for the past 3 years, bank statements, Nature of business, its current and expected returns and the market trend.
The loan amount could be from Rs. 50000 to Rs. 75 lac and the tenure would be between 1 to 3 years.
At ACE Consultancy, we are the experts in helping you avail the best business loan with customer friendly terms.
Businesses need money for several reasons, right from working capital needs to expansion plans to opening up a new branch or for innovation in the existing business.