Loan

Types of Loan:-

1. Business Loan
2. Small Business Loan
3. Commercial Loan

Business Loan- Business loans help your small business grow, allowing you to invest in infrastructure, operations, and plant and machinery. Moreover, business loans can also be a medium of maintaining Business for critical business operations. Customized business loans are a new category of business loans which are tailored to meet the specific needs of a new age business or start-up. These loans offer your enterprise the opportunity to scale and give it the competitive edge necessary for success in today’s world.
Small Business Loan- A Small Business Loan is a form of a Business Loan tailored to meet the needs of a small to medium scale business.
Commercial Loan- Commercial Loan is a type of financing for businesses to increase the working capital, acquire new machinery, build new infrastructure, meet operational costs and many more. Commercial Loans are usually short-term loans and can be both secured and unsecured in nature.
A businessman applying for a Commercial Loan needs to present financial documents of the entity, proof of the establishment, proof of business vintage, etc. Lenders also check the CRISIL score to understand the financial history of the business.

Benefits of raising Business Loan with Legal Convoy:-

1. Flexible loan facility – Withdraw money when you need, and repay when you can with the Flexible loan facility.
2. High loan amount – Borrow up to Rs.30 lakh for your business needs.
3. Collateral-free loans – You do not need to pledge any collateral to avail financing.
4. Pre-approved offers – Find the best offers customized for you.
5. Fair interest rates- The interest rates you get from Legal Convoy are lowest interest rates on business loans, available for your business.

Eligibility criteria for Business Loan:-

1. You should be between 25 and 55 years old.
2. Your business should have a vintage of at least 1 years.
3. Your business should have its Income Tax returns filed for at least the past 1 year.
4. Your business should have its previous year's turnover, duly audited by a CA.
5. Annual Turnover of Minimum Rs. 30 Lakhs.

Procedure to get your Business Loan:-

1. Submit Application-Simply enter your personal, business and financial info to receive a business loan offer.
2. Upload Documents- Upload digital copies of your documents in a single step process for verification.
3. Get Sanctioned- Receive your business loan approval and disbursal within 3 working days.

Documents Required for Business Loan:-

1. Bank Statement of previous year
2. Business Registration Proof
3. Business Address Proof
4. Proprietor PAN Card
5. Proprietor Aadhar Card
6. Company PAN Card Copy