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The eligibility criteria for unsecured business loan lenders in India depend upon various factors. In this blog, weu2019ve discussed them exhaustively. Click here to read.
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Introduction • Unsecured Business Loans Are Very Popular Due To The Speedy Processing Of Applications • The Interest Rate For UBL Is Slightly High
Eligibility Criteria For Availing UBL Without Security • The Business Must Have Been Operational For At Least Three Years • The Business Should Have A Reasonably Solid Credit And Financial History • The Businessman Needs To Provide Some Sort Of Guarantee Of Repayment
Eligibility Criteria For Availing UBL Without Security • The Borrower Should Submit A Business Plan To Prove The Financial Viability Of The Business • Annual Turnover Of The Business Is Likely To Be An Important Factor
Documents For UBL • Application Form, Duly Filled • Proof Of Registration/License Of The Business • KYC Documents (Self-attested Copies) As Specified, Of The Borrower And Guarantors, If Any • Audited Annual Financial Statements Of The Business
Documents For UBL • Bank Statements For The Last Six Months • GST Returns For The Previous Financial Year • List Of Directors And Their Shareholding Patterns As Applicable • Signed List Of Existing Term Loans And Working Capital Facilities
Tips To Get A UBL • Make Sure Your Financial Statements Are Audited • Ensure All The Documents Are Prepared • Prepare A Detailed Business Plan • If You Are A Start-up, You Can Try Getting A Secured Loan At First And Then Apply For UBL
Thank You !Would Love to Hear From You Hero FinCorp Limited 09, BasantLok, Vasant Vihar, New Delhi - 110057 Tel. 18001024145 Email Id: Corporate.Care@HeroFinCorp.com Website: https://www.herofincorp.com/ Know more- Is my business eligible for an Unsecured Business Loan?