Business Loan Eligibility Criteria
The eligibility criteria for applying for a business loan in Ghaziabad are:
- The business should be in operation for at least 2 years
- Minimum 5 lakh of annual banking credit
- Last year ITR of more than INR 1.5 lakh
- Either house or business premises should be self –owned
Business Loan Documents
Following documents are necessary to apply for a business loan from ZipLoan:
Business Loan Interest Charges
Know more about the business loan interest charges and the nominal rates for the ZipLoan business loan.
Types of Business Loan available in Ghaziabad
- Working Capital Loan – Working capital management outlines the daily activities of the entrepreneur. Working capital loans are used to cover payables, dues, wages and various other operational expenditures.
- Growth Capital Loan – This type of loan helps small business owners to concentrate on growing their business. Investment is generally done on the long term investment to grow the business.
- Business Loans Without Security – The loan is provided without any security or assets. However, thorough background checks such as credibility, financial strength, annual turnover, cash flow and risk potential, etc. are done. As the unsecured business loan attracts high risk so the business owners are trusted with the good credit scores, KYC and business documents and the banking account statements.
- SBA Loans - Small Business Administrations are the agencies that do not lend money directly to the small business owners, instead, they set guidelines for the loans that are to be distributed by its lending partners. It reduces risk & enables easier access to capital.
- Invoice Financing - Business owner borrows money against the amount due from customers. It is a short term requirement that helps businesses to improve cash flows, pay employees and suppliers, and manage business operations and growth.
- Machinery Purchase & Renovation Financing: Funds are required by the business owners who need to purchase machinery or repair existing machinery to increase production.
How to Get a Business Loan in Ghaziabad?
You can conveniently avail a business loan in Ghaziabad by following these simple 4 steps:
- Apply Online: Duly fill the business loan application form on our website to apply for a small business financing in Gurgaon. You can also download the ZipLoan Android App from the Google Play Store and apply for easy business loans in Ghaziabad.
- Submit Required Documents: After applying for loans for small businesses in Ghaziabad, submit the PDFs of the required documents.
- Business Loan Approval: Our representative will process your business loan application within a few hours after you submit it. We have our own holistic credit evaluation process, ZipScore.
- Business Loan Disbursement: Our business loan disbursement process is very quick and we disburse the business loan in Ghaziabad within a few hours after you sign a contract with us.