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Factors that determine eligibility for company loan are

Factors that determine eligibility for company loan are

  • Eligible Age – Banks consider borrowers as we grow older of 21 years to 65 years
  • Loan Amount – Loan quantity of ? 50,000 to ? 100 Cr is availed on business loan. Greater the mortgage quantity, greater the possibilities to have interest rate that is low.
  • Loan Tenure – loans are short term loans and tend to be offered for a faster period. Generally, these loans receive for a tenure of just one to 5 years year.
  • Earnings Tax Returns (ITR) – A self used will get a small business loan, only if it offers filed regular ITRs for the previous several years. Banking institutions think about borrowers that have filed ITRs of 2 years or maybe more as eligible to obtain company loan. Banking institutions evaluate your month-to-month earnings and payment ability predicated on details submitted when you look at the ITRs. Continue reading Factors that determine eligibility for company loan are