What is the eligibility criteria to apply for a business loan?

What is the eligibility criteria to apply for a business loan?

1Answer

Minimum age – 18 years

Maximum age – 65 years

Business Loans are offered to the following entities:

· Retailers

· Manufacturers

· Traders

· Sole Proprietorship Firms

· SMEs, MSMEs and Large Enterprises

· Partnership Firms involved only in Manufacturing, Trading or Service sectors

· Self-employed individuals / professionals - CAs, Doctors, etc.

· Private limited companies and closely held limited companies

Business Turnover, Operation History, Business existence, credit score and profitability criteria are defined by the respective bank and NBFC.

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