Unsecured loan normally provided by the bank on the basis of your existing turnover ,repayment track record .if you borrowed the loan from the any financial institutions , fund flow in the bank ,civil record of the applicants .The main motto of the unsecured loan is basically for those company who really performing very well in terms of the sales and income but they are not able to make out the productivities due to adequate financial crunch or trade deficit in terms of late payment recovery from the respective buyers so that it will help to fill the gap between the trade credit period and the payment receipt from the respective debtors .
Eligibility & Documents Required
Your eligibility depends upon your sales turnover and the payment receiving from the respective buyers and repayment capacity as determined by Financial Institution. Factors like your income, age, qualifications, number of dependants, spouse’s/Co-applicant income, assets, liabilities, savings history, stability, property value and continuity of occupation are considered while computing your eligibility.
- Duly filled application
• Identity proof: (Pan Card / Passport / Ration card / Voter Id Card)
• Passport size Photographs of all applicants
• Business Proof
• Latest Address Proof
• Last 3 years income tax return of firm / Company with GST return
• Last 12 months bank statement of main operating account of the firm
• Audited financials
• Certified 3 copies of MOA /AOA / Partnership deed as applicable
• Existing CC limit /Loans statement copies if you borrowed the loan from the banks