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Is it possible to obtain a business loan without an ITR? If so, how?

If your company's financial records are missing Income Tax Returns (ITR), you may be wondering if you qualify for a business loan. Here's the answer to your concern.

HeroFinCorp
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Is it possible to obtain a business loan without an ITR? If so, how?

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  1. Is it possible to obtain a business loan without an ITR? If so, how?

  2. What does the credit bureau mean? It is the agency in charge of gathering your personal and financial information. It analysis your credit behaviour and prepares a credit report based on it. 

  3. Events when businesses lack ITR A start-up in its first year of operation. If your business income does not fall within the minimum tax bracket.

  4. How do I get a loan if I don't have an ITR?

  5. Financial records Check to see if your company's other financial statements are in order.

  6. Security You can pledge your company's assets in exchange for funds.

  7. Introduce guarantor Having a guarantor on your loan increases your loan eligibility. The guarantor must possess a decent credit profile. Their repayment obligation is the same as yours.

  8. Healthy credit record Avoid missing out on existing debt EMIs. Clear any previous defaults.

  9. Other essential documents for securing business finance without ITR • Identity and address proof • Business vintage proof • Income proof

  10. It is difficult to obtain business financing without ITR. Even if you are accepted, the interest rate will be higher.

  11. Thanks • Would Love to hear from you. • Hero Fincorp Limited • 09, Basant Lok, Vasant Vihar, New Delhi - 110057 • Tel : 18001024145 • Email : customer.care@herofincorp.com • Website : https://www.herofincorp.com/ • Know More :How to get a business loan without ITR?

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