Capital Link offers loans for your requirements with Low interest rate 6.75% onwards
Financial Flow is the lifeblood of any successful organization. Most businesses will need a large amount of working capital to start up a new business or enable the rapid growth of an existing business. Scaling up always requires an influx of finances.
This is why we go to all lengths to ensure that we can disburse a loan that can help you take your business to the next level. Business loans are very special to Andromeda and we have been helping our customers scale to new heights of success by helping them finance their dreams for their enterprises.
While a person is given a personal capacity and income, a business loan is given based on the company’s income and capacity and is given in the company’s name.
Business Loan eligibility depends upon various factors. A few of them are listed here –
Most banks will disburse business loans to individuals aged between 24 to 65 years.
Banks will prefer that your business has been showing stable signs of growth at least for the last 3 years. If you can show sustained billing and revenues and top it off with profit, getting a business loan should not be a problem for you. Some banks give a loan amount up to 60 to 80% of your median annual profits.
A bank will prefer if you have been engaged in sustainable business for atleast 5 years to consider giving you a loan. Your diversity in terms of business experience and so on along with good results will help you acquire your business loan.
Business Loan in India can primarily be classified into two based on interest rates: fixed rate and floating rate of interest.
Bank Statement (Latest 6 months)
Latest ITR along with other relevant docs like Balance Sheet, P&L, Audit Report (Certified by a CA)
Business loans range from min. of 1 year up to a max of 4 years
The processing of the loans usually takes 4 working days after all the documents are submitted.
You can pre-pay the loan after repaying a min. of 6 EMI’s. Foreclosure charges would be applicable as per the bank’s terms and conditions. You can make a part pre-payment with a minimum amount of Rs.50,000 after 6 months from the date of disbursement of the loan. This part pre-payment can be made only once in a financial year.