If you are planning to start a new company in Hyderabad or expand your existing one, you can avail business loans from banks or NBFCs. You must check the eligibility criteria before applying for a business loan.
Your age should be 21 years at the time of loan application and you must repay it before the age of 65 years. Self-employed professionals and businessmen can apply for the loan in Hyderabad. Banks typically look for a business stability or profitability of minimum 3 years for self-employed professionals. In case of other businessmen, banks and finance companies require a minimum business continuity or existence of 5 years. Further, a credit score of 650 and above is required to avail a business loan in Hyderabad. You are required to submit some important documents for availing a business loan such as KYC documents (Aadhaar Card, PAN card, driving license, voter ID, passport), income proof (ITR, balance sheet, and Profit and Loss account) and bank statements. You can apply for a business loan both online as well as offline. You can also compare the interest rates offered by different lenders through multiple online aggregators and choose the one which suits your requirements. So, if you are in urgent need of funds for your business, you always have the option to avail a business loan in Hyderabad. Various leading banks and financial institutions are willing to provide you funds with easy documentation and hassle-free process in the city.
Related: Steps to get Business Loan in Hyderabad
Your age should be 21 years at the time of loan application and you must repay it before the age of 65 years. Self-employed professionals and businessmen can apply for the loan in Hyderabad. Banks typically look for a business stability or profitability of minimum 3 years for self-employed professionals. In case of other businessmen, banks and finance companies require a minimum business continuity or existence of 5 years. Further, a credit score of 650 and above is required to avail a business loan in Hyderabad. You are required to submit some important documents for availing a business loan such as KYC documents (Aadhaar Card, PAN card, driving license, voter ID, passport), income proof (ITR, balance sheet, and Profit and Loss account) and bank statements. You can apply for a business loan both online as well as offline. You can also compare the interest rates offered by different lenders through multiple online aggregators and choose the one which suits your requirements. So, if you are in urgent need of funds for your business, you always have the option to avail a business loan in Hyderabad. Various leading banks and financial institutions are willing to provide you funds with easy documentation and hassle-free process in the city.
Related: Steps to get Business Loan in Hyderabad
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