Some Quick Facts
Purpose
Business Loan can be availed for all business purpose like working capital requirement, purchasing of fixed assets, capacity expansion/ modernization, technology up-gradation...
Loan Amount and Eligibility
The loan amount will depend on profit and years of business and cash flow Eligibility for business loan will vary from bank to bank and will depend on various factors.
Repayment
Business loans can be sanctioned for a fixed term (12-48 months) or may involve a revolving line of credit or they may be in the form of an overdraft facility.
Fees and Charges
Normally lender charges a fee of up to 2.5% of loan amount towards the processing of loan.
Document
The document required for processing of business loans are...
Loan Service Providers
Some of the providers of business loan in India are State Bank of India (SBI), HSBC Bank, ICICI Bank, HDFC Bank, Fullerton India, Bajaj Finserv, etc.