Documents Required to Apply a Business Loan

Profit and loss is an unmatchable scale of life. Starting from revamping your business to launch a new store or increase the workforce, you need capital. It is one of the most crucial things that any business requires to outperform competitors and run the business smoothly.

However at any point of life if you feel like going for a business loan. Choose a type of business loan based on your needs only after comparing it based on the cost and terms on loan.

So for you here is a list of documents that are required along with your Business Loan application:

Application form:

Complete loan application form with one passport size photograph.

Valid proof of applicant’s identity:

A copy of any of the following documents as identity proof

  • Aadhaar Card
  • Passport
  • Voter’s ID Card
  • PAN Card
  • Driving License

Proof of residence:

A copy of any of the following documents as address proof:

  • Aadhaar Card
  • Passport
  • Voter’s ID Card
  • Driving License
  • Ration card
  • Telephone Bill
  • Lease agreement
  • Electricity Bill
  • Trade license
  • Sales Tax certificate

Age proof:

  • Passport
  • Photo PAN card,
  • Voter’s identity card

Financial documents:

  • Bank statement of the previous 6 months
  • Latest ITR along with computation of income, Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited
  • Proof of continuation (ITR/Trade license/Establishment/Sales Tax Certificate)Other Mandatory Documents [Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)]

Now get quick and hassle-free loan with all required documents and give a good competition to your competitors and be ahead in business.