Sum New Victory








SUM NEW VICTORY
Business Loan

Business Loan

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A bank loan may be a loan specifically meant for business functions. Business loans area unit unsecured money help provided by banks and NBFCs in India. A bank loan may be a reasonably funding you'll be able to avail to fulfill the pressing wants of your growing business.

You'll be able to use a bank loan to:

  • Increase your business income
  • Renovate your workplace
  • Purchase, lease or repair machinery and instrumentality
  • Upgrade to the newest technology
  • top off on inventory
  • Hire seasonal employees

    • Business Loan Eligibility Calculated on:

  • Applicant’s Age
  • Nature of Business
  • Financial History
  • Business Turnover
  • Business Vintage
  • Source of Income
  • CIBIL score/Credit Report
  • Repayment Capability
  • Creditworthiness
  • Business stability or profitability
  • Loan defaults, if any



    • Business Loan Eligibility

    Age Criteria Min. 18 years and Max. 65 years
    Eligible Entities Individuals,
    SMEs,
    MSMEs,
    Sole Proprietorship,
    Partnership firms,
    public and private limited companies,
    limited liability partnerships,
    retailers,
    traders,
    manufacturers engaged in only services,
    trading and manufacturing sectors
    Business Vintage Min. 2 years and in profit
    Business experience Min. 2 years, business location to remain same
    Annual Turnover Min. Rs. 10 lakh and above for existing enterprises
    CIBIL Score 750 or above
    Nationality Indian citizen
    Additional Criteria Applicant must own either a residence, office, shop or go down



    The Following Documents:

    • For Company/Firm/Individual - PAN Card
    • A copy of any of the following documents as identity proof: - Aadhaar Card
    - Passport
    - Voter's ID Card
    - PAN Card
    - Driving License
    • A copy of any of the following documents as address proof:
    		 - Aadhaar Card
    - Passport
    - Voter's ID Card
    - Driving License
    - Electricity Bill
    • 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)

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