All About Business Loan Lucknow
What is a Business Loan?
The loan which helps a businessman, entrepreneur, and professionals to start, enlarge and make their business better in every way possible.
The business loan can be secured by the collateral of property, finished goods etc or sometimes without all these.
But the unsecured loans are expensive.
How Business Loans can be Helpful?
The loan provides the business the required capital.
It can help the business in buying the required commodities for its growth.
The business loans can cover up the monetary needs of several tasks like enlarging the capacity of the business, modernization, technology up-gradation, research, and development or any other short-term requirements.
Eligibility Criteria for Business Loan Lucknow
The Following criteria must be fulfilled by the applicant for the approval of the loan
21 to 65 years
Annual Turn-over Of the business
Rs 20 Lac
Minimum Duration of the Business
At least 3 years (a positive trend in business)
Profit for 2 years in the business
Required Documents for Business Loan Lucknow
Documents required for the approval of the business loans are as follows
Proof of Identity
Proof of Address
Adhaar Card/ Passport/ Voter ID Card/ Driving Licence
Last 6 months
Proof of continuation
ITR/ Trade License/ Establishments/ Sales tax Certificate
Latest ITR, Along with computation of income, Balance Sheet And profit and loss for the last two years.
All the financials should be certified/Audited by the CA.
Other Mandatory Documents
Sole property Declaration/certified copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by the Director) & Board Resolution (original)
Rate of Interest for Business Loan Lucknow
The minimum known rate of Interest for all of the business loans is 14.5% p.a.
Tenure for Payment
The tenure for the payment given to the businessman for this loan is from 12 to 48 months.
The bank approves the loans of cost Rs 1 lac. to Rs. 50 Lac.
Banks and NBFCs
The following banks approve the above-mentioned business loan:
- HDFC Bank
- Bank Of Baroda
- AXIS Bank
- Canara Bank
- Central Bank Of India
- Citi Union Bank
How to Apply for Business Loan Lucknow?
- Apply online on www.dialabank.com
- Check the eligibility
- Call the helpline number 600-11-600
- Visit the bank
- Submit all the documents
- Get the loan
Lucknow, “city of nawab” “capital and largest city of Uttar Pradesh”, has a population of 28,15,601. The city has automotive, machine tools, chemicals, and chicken embroidery industries and businesses. The market is never ending and the residents are willing to compete for the big industries by enlarging or establishing new businesses.
The banks here play an important role by providing business loans to the desired and deserving people to establish or enlarge businesses.
Business Loan in Local Area
The Local branches of banks and NBFCs are willing to lend the loans for the businesses
LOCAL AREA OF LUCKNOW
Sarojni Nagar Housing Society
Baraura Hussain Bari
Table of Contents
- 1 All About Business Loan Lucknow
- 1.1 What is a Business Loan?
- 1.2 How Business Loans can be Helpful?
- 1.3 Eligibility Criteria for Business Loan Lucknow
- 1.4 Required Documents for Business Loan Lucknow
- 1.5 Rate of Interest for Business Loan Lucknow
- 1.6 Tenure for Payment
- 1.7 Loan Amount
- 1.8 Banks and NBFCs
- 1.9 How to Apply for Business Loan Lucknow?
- 1.10 About Lucknow
- 1.11 Business Loan in Local Area