Who Will eligible for Business loan in India?
A organization can avail the facilityof Business Loan either by pleding the Security or without the security which is depends on the amount riks involed. Usually the new entreprener is not eligible for business loan in Banks and NBFs ( Non Banking Financial Corporation ). Morethan 3 to 5 years having the track recored of doing the business can apply for Business loan to Banks. The banks will consider the business continuity and profit for the years to sanction the business loan for organization. But who have good record on the business as well as credit record, the banker will happy to disburese the BUSINESS LOAN to the applicant at very Fast.
The banks will consider the Turnover of the company for eligibility purpose. The turnover below 100 lacs banks not considered to process the Business Loan, sometime may be vary.
The organization should not be defaualt in existing loan obligations. The CIBIL score below 750 not considered for loans by many of the Banks.