Looking to expand your business prospects in Bangalore? The scope is huge in the Silicon Valley of India given that it is one of the fastest growing cities in the nation. If you need funding, the best course of action is to seek a business loan. It is cash borrowed by self-employed proprietors, entities such as partnerships, private and public limited companies on a short-term basis from a bank or a large financial establishment. The business loan in Bangalore has to be repaid with interest over an agreed length of time.
The funding can be used for a wide range of business activities ranging from capital improvements, expansion plans, increasing working capital to the purchase of equipment. Typically, no security or collateral is required to avail a business loan in Bangalore. In terms of eligibility, a valid business purpose, a good credit score, no criminal record and a robust repayment capacity can tilt the scales in your favour.
Eligibility Criteria for Business Loan in Bangalore:
- Type of business and its track record
- Turnover of business
- Profit of business
- Cash flow
- Requisite Experience
- Applicant should be at least 21 years for application of the loan, and not older than 65 years when the loan matures
Documents Needed for Evaluation of Business Loan Application in Bangalore:
- Photograph (Passport size)
- KYC documents
- ID Proof
- Address Proof
- Business proof/ Certificate
- Financial documents
- ITR & Statement Of Computation of Income for last 2 Years
- Bank account statement for the last 6 months
- CA Audited Financials
If you’re an entrepreneur looking to raise funds, Antworks Money can help. We are a reputed peer-to-peer online lending marketplace that has helped thousands of business owners in Bangalore acquire capital for a new venture or expansion. We sincerely believe that borrowers deserve fair interest rates and transparent terms. Thanks to innovative technology and our superb back-end algorithms you can compare fundamental parameters like interest rates, processing fees and loan tenure of different banks/ NBFCs to make an informed decision. Not to mention our efficient team is available 24/7 to help create a smooth and hassle-free experience for you on the documentation.
Take the first step in expanding your business. Use Antworks Money to clinch the best business loans in Bangalore to meet all your goals and objectives.