GST business loan is one of the business loans which is given to the MSMEs for their business expansion or other business expenditures from the government financial institute or another private institute. When one plans to start the business he or she will face the challenge of arranging the funds. This business loan is provided loan against GST with low-interest rates. This loan scheme is one of the great loan schemes for MSME sectors.
A GST business loan is a kind of term loan of up to Rs. 1 crore based on the GST returns for MSMEs. This means that by simply providing their GST returns MSMEs can procure funding for meeting their working capital needs. This business loan is also collateral-free which means when you can apply for this loan and you also don’t have to invest any property. This is one of the great features of this GST loan.
Please verify with OTP
ZipLoan is the Lender of Choice for Small Businesses.
No balance sheet needed
Collateral Free Loan
For a business with turnover of 10L+
Receive Funds within 3 Days
Straight into your account
No Prepayment Charges
After first 6 months
How to Apply for the GST Business Loan?
Following are the few easy steps which you have to follow when you are applying for the business loan. These steps are really important for you to understand and you can apply for a business loan easily.
Step 1- First, you have to register for the GST business loan on the official website of the government. Many other faculties also provide their customers with business loans at a low-interest rate.
Step 2- When you apply for the GST business loan you should upload all the documents which are necessary for the process. After you upload the documents you will get the SMS from the financial faculties about the confirmation of your loan.
Step 3- When you apply for a business loan then you should know about the government policy of 59 minutes. This policy provides you with confirmation about your loan in 59 minutes. You will get the instant GST business loan in 59 minutes.
When you get a loan of up to 1 crore for your business it will help you in expanding your business in other cities and it will also improve your cash flow. You can also use this loan money in the marketing department of your business to increase sales.
What are the basic eligibility criteria to apply for this GST business loan?
Following is the basic eligibility criteria for applying to the GST loan:
1) You have to have the minimum business vintage from the past year.
2) Your monthly business sales minimum has to be around 2,00,000.
What are the required documents for the GST business loan?
Before you apply for the loan against GST certificate you have to check the document which is required for applying for a business loan. Following are the required documents which are essential:
1) PAN card
2) Rent agreement, driving license, voter id, passport, and aadhar card.
3) Current bank account statements forthe last 6 months.
4) GST registration certificate, business PAN card, and shops and establishment certificate.
What are the interest rates on the GST business loan?
Interest rest of the loan depends upon the different factors related to the loan information. The interest rate on the loan starts from 1% and it depends on how much is your loan amount and how much your sales are.
Which of the MSME sectors can avail of the GST business loan?
Following are some MSME business ownerscan avail the GST business loan against the GST certificate –
1) Public and private limited company
2) Partnership firm
3) Sole proprietorship
Solving Real problems
I have been running my business for over twelve years but have not been able to undertake expansion activities. I applied to Ziploan and they cleared my loan application in a very short span of time.
I approached Ziploan for an equipment finance loan because they required no collateral. Their eligibility criterion was easy to fulfill because it required only 2 years ITR and 10 lacs of annual banking credit.
I always thought that loans and credit facilities were only available to large businesses with significant turnover. I never thought I would be eligible to qualify for a business loan too. Ziploan is boon for small enterprises like me.
Ready for Ziploan to empower your business ?
Download our App
Download our App
Get a business loan, build connections and get an exclusive business profile on our app.