Business loan are often provided to individuals, SMEs, MSMEs, business owners and other business entities. Moreover, it includes partnership firms, public or private limited companies, trust, sole proprietorship..etc.

1. Business Loan Eligibility

2. Business loan are often provided to individuals, SMEs, MSMEs, business owners and other business
entities. Moreover, it includes partnership firms, public or private limited companies, trust, sole
proprietorship..etc.
To qualify for a business loan, borrowers to requried to meet the basic eligibility criteria as defined by
the specified lenders. However, the eligibility criteria vary from bank to bank. Below are some of the
common eligibility requirements asked by lenders that need to be fulfilled before proceeding loan
applications.
Business turnover: Your business turnover must reflect positive growth and profit margin – minimum
turnover should be Crore.
Age limit: You must be between 21 and 65 years old to apply.
Credit score: You must have a good CIBIL score of 700 or more.
Profitability: You must own a business that has been profitable for at least three successive financial
years.

3. Business Status: Minimum years of business history in the current
work area.
Additional Requirements: You need to furnish a balance sheet of your
company audited by a reputable Chartered Accountant (CA).
Well, now you know about loan eligibility requirements that need to
be fulfilled. Once you meet these criteria, you can apply for a business
loan through financeseva to make your loan approval easier.
With our business loan interest rates starting at just 14.50% you can
get loan amounts as high as Rs. 75 lakhs without pledging any security.
Moreover, our structured EMI plans allow you to comfortably repay
the loan for a tenure ranging from 12-36 months.