TERM LOAN

Everything You Need to Know About Term Loan

We offer term loans to businesses for their expansion, capital expenditure and for fixed assets. These are generally short-term loans, having tenure of up to 5 years. These short-term finance options are structured in a way that it meets your business finance needs. Term loans can also be sanctioned for the project or non-project loan. Project loans are sanctioned for setting up a new unit or for expansion of existing units whereas non-project loans are those extended for the acquisition of fixed assets, like a machinery, factory, etc.

Benefits of Term Loans for a business are Low-cost credit, Financing as per cash-flow, Customized products to meet your requirements, Products offered across leading lenders, Short-term finance, having a tenure up to 5 years, Flexible loan offering, repayment can be scheduled as per cash-flow, Hassle-free documentation and quick turnaround time..

 Eligibility Criteria for Term Loan

► Minimum age of applicant: 22 years

► Maximum age of applicant at loan maturity: 65 years

► Years in business: Minimum 3 years

► Good CIBIL Score

► Proof of Identity: Passport / Voters ID / Driving License/PAN Card/Aadhar Card /Photo Ration Card

► Address Proof: Ration card /Driving License/ Voter ID/ Utility Bill (anyone within last 3 months) / Registered Rental Agreement / Passport

► Date of Birth Proof: Driving License / Pan Card / Passport Copy / Birth Certificate / 10th / 12th mark sheet bearing date of birth

► Latest ITR along with computation of income, B/S & P&L a/c for the last 3 years certified by a CA

► Proof of continuation: Trade license /Establishment /Sales Tax certificate

► Other Mandatory Documents (Sole Prop. Decl. Or Cert. Copy of Partnership Deed, Cert. Copy of MOA, AOA & Board resolution.)

► GST Registration and last 1 year GST returns

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