With the increase in business opportunity and new ideas and technology, young and women entrepreneurs have successfully set up their ventures. Business Loan in Mumbai has helped many young and women entrepreneurs in planning the best solution for the business. Money plays a vital role in business expansion. Every business need and requirement goes through significant changes depending upon the working capital or expenses they require.
Eligibility criteria lender’s check before applying for the business loan :
- Applicant should be minimum 21 years and maximum 65 years of age.
- Banks and private institution requires collateral or security in order to approve for the business loan.
- Lenders or banks approve Proper business plan which includes product, company, team, market and financial details of the business.
- They also approve the transaction by transaction details of the sales and payment history.
- Lenders check the legitimacy of the company for which they require tax return document
- Carry balance sheet report of past three months along with KYC and details of the directors and partners of the company
Why young and women entrepreneurs choose business loan in Mumbai over other investment option?
- Business Loan is easily accessible
- Don’t require equity dilution
- Approved within 24 hours
- Provision of negotiating interest if you have a good credit score
- Lenders have a structured framework to provide funding to the business
- They don’t require any share of profit/loss.
Proper business loan planning and preparation is the key to achieve business goals. Whether it is planning to take the loan for construction or paying salary to employees or shift of your business to other places.
Thus, if you are looking for a business loan in Mumbai, here we are to provide and guide you in the right direction.