Business loan Eligibility Criteria
The eligibility criteria for applying for a business loan in Lucknow 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
Get more information about the business loan interest charges and the nominal rates for the ZipLoan business loan.
Types of Business Loan Available in Lucknow
The types of business loan available in Lucknow are:
- Working Capital Loan – it is the best option for the small businesses when they are facing a seasonal shortfall of cash, irregular cash flow or to cater to the sudden requirement in the business. To overcome the short-term shortage of cash, Working Capital loan is taken by the small businesses.
- Term Loan – It is a long term loan and a lump sum amount is required which is often utilized for the capital expenditure. Depending upon the credit profile of the business, the rate of interest and the tenure is fixed.
- Equipment Financing – these loans are generally taken by the manufacturing businesses for purchasing equipment required for the business expansion
- Invoice Financing – The time lag between the business raises and invoice and finally gets paid gets plugged by taking the loan against the invoice from the Banks and financial institutions
- Small Business Loan - ZipLoan offers small business loans that help entrepreneurs to expand their operations and market reach. The funding is done in a quick and hassle-free manner.
How to Get a Business Loan in Lucknow?
You can conveniently avail a business loan in Lucknow 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 Lucknow. You can also download the ZipLoan Android App from the Google Play Store and apply for easy business loans in Lucknow.
- Submit Required Documents: After applying for loans for small business in Lucknow, submit the PDFs of the required documents.
- Approval of Business Loan: 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 Jaipur within a few hours after you sign a contract with us.
