Documents Required for a Business Loan

Whether you are starting a business or expanding one, keeping the right documents ready before you apply for a loan is the most important step. It improves your chances of quick approval.

1. Identity and address proof: Aadhaar card, PAN card, passport or voter ID.

2. Business proof: GST registration, Udyam registration, shop and establishment licence, or company registration.

3. Bank statements: Usually for the last six to twelve months.

4. Income tax returns: ITR for the last two to three years, plus balance sheet and profit and loss statement if required.

5. Business plan: Essential for new businesses, covering costs, expected income and how the loan will be used.

6. Property documents: If you are offering collateral.

Disclaimer: This article is for general information only and is not financial or legal advice.