Small business loans criteria?
First to know about small business loans, we need to know what actually a small business,Generally small business means private owned partnership forms or sole proprietoryships or corporations
Where a business should not exceed 20 lakhs
In some states it may be around 25 lakhs also
Which category business comes under small business loans
Now a days business based on internet and web based organisations and groceries ,daycare centers internet centers,small restraurents and many more
Eligibility Criteria
- You are eligible for the Business Loan if you are between 25-65 years of age
- You should have a business that must be profitable for three consecutive financial years
- Your turnover needs to show an upward trend
- Your balance sheet must be audited by a registered Chartered Accountant
Business earnings tax returns for the earlier 3 years.
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