Business Loan Requirements
Need a business loan requirement for your business growth? We at Ziploan, offer hassle-free business loans up to Rs. 7.5 lakh at competitive interest rates.
ZipLoan is the Lender of Choice for Small Businesses.
Minimal Documentation
No balance sheet needed
No Prepayment Charges
After first 6 EMIs
Receive Funds Within 3 Days*
Straight into your account
Why businesses require a business loan?
In difficult times, improving your cash flow or expanding your business can be accomplished with a business loan. There are common business loan requirements you need to know when preparing to apply, even though each lender has its own requirements.
Investors in business loans have an accurate understanding of your business' potential as well as its requirements. Neither the mechanism nor the nature of your business affects the return on loan. The flexibility of these commercial loans as well as the convenience of securing liquidity make them ideal for businesses.
Business Loan Requirements
Business loan requirements differ from lender to lender. ZipLoan offers small business loans at an incredibly low interest rate. Getting a business loan is as easy as filling out an online form, so you don't need to make multiple trips to the bank. With ZipLoan's business loan form, borrowers can check off whether they meet the loan's requirements with a simple checklist. We ask for basic details to help us better understand your business loan needs.
Documents and eligibility criteria
| Proprietorship | Partnership | Pvt. Ltd. / LLP / One Person Company | |
|---|---|---|---|
| Bank statement (12 months) | ✓ | ✓ | ✓ |
| Business registration proof | ✓ | ✓ | ✓ |
| PAN Card | ✓ | ✓ | ✓ |
| Aadhar Card | ✓ | ✓ | ✓ |
| ITR of the previous two years | ✓ | ✓ | ✓ |
Note: - We don't offer a loan for startup businesses.
Business loan interest rates| Customized Interest Rates | Yes |
| Loan Tenure | up to 36 months |
| Pre-closure charges | Nil** after paying the first 6 EMIs |
| Eligibility Criteria | Annual turnover more than Rs.10 lakh |
| Loan Amount | ₹ 1 Lakh – ₹ 7.5 Lakh |
Business Loans EMI
Equated Monthly Instalments (EMIs) break down a loan into easily repayable financial units. The EMI option provided by Ziploan helps you repay the loan amount with an easy EMI repayment facility. You can repay your loan amount in 12 to 36 months.
You can use our business loan EMI calculator to know your EMI.
How to Calculate Business Loan EMI?
Here is the formula to calculate business loan EMI.
EMI = P × r × (1 + r) n/ ((1 + r) n – 1)
Above:
P: Loan amount, r: interest rate, n: tenure in number of months
How to Apply for Business Loan
Here are three steps process to apply for a business loan online from ZipLoan:
- Submit Application - Simply enter your personal, business, and financial info to receive a business loans offer.
- Upload Documents - Upload digital copies of your documents in a single-step process for verification.
- Get Sanctioned - Receive your business loans approval and disbursal within 3 working days*.
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