Business Loan

To be considered for a Business Loan by Aditya Birla Finance Limited, applicants must satisfy specific criteria based on the duration of business operations and the applicant's borrowing history. Below are some of these conditions:

1. The business must have been in operation for a minimum of two years when applying for the loan.
2. Self-employed individuals, professionals such as doctors and chartered accountants, as well as proprietorship concerns, are eligible to apply.
3. Charitable organisations, NGOs, and trusts are not qualified for a business loan.
4. Applicants need a credit score, or CIBIL score, of 675 or higher.
5. The business must not be categorised under any blacklisted business types.
6. The office location should not be listed on any negative registry.

A Business Loan can help your business grow by enabling you to buy new equipment, expand globally, invest in technology, hire more staff, launch new products, buy inventory in bulk, and improve marketing efforts. Knowing why you need the loan is essential for creating a solid financial plan for your business.

Aditya Birla Capital Limited mandates specific official documents to apply for a Business Loan, adhering to central government regulations. These necessary documents include:

• KYC documents – Identity proof and address proof of the borrower and all co-borrowers

• PAN Card for the borrower and all co-borrowers.

• Bank statements from the primary operational business account for the last (6-12 months).

• Signed agreement reflecting the standard terms (for term loan facilities).

• Additional document(s) might be necessary for assessing credit and processing the loan application.

• GST registration.

• Previous 12 months’ bank statements.

• Proof of business registration.

• PAN Card and Aadhar Card copies of the Proprietor(s).

• Copy of the deed and company PAN Card (for partnerships).

Business loans are available for a range of business structures, including Proprietorships, Partnerships, and both Public and Private Limited Companies.

If you are a self-employed individual, whether a professional or non-professional like a trader, manufacturer, or service provider, securing an online business loan in India is easily attainable. Additionally, entities such as LLPs, partnership firms, and private limited companies can apply for small business loans.

Yes! An instant Business Loan provides the flexibility to utilise the funds for various business needs such as inventory acquisition, bill payments, staffing, or business expansion. However, exercising prudence and allocating funds solely for business-related expenses to prevent unwarranted debt.

Yes! People with poor credit history can also apply for a loan but it may incur high interest rates and fees compared to those with a better credit history.

If you cannot repay the loan by the deadline, please communicate this to us. We may offer alternative options like payment plan, loan extension, or refinancing. It's important to note that non-repayment may impact your credit score, incur additional charges, and could lead to legal action.

You can easily apply for a Secured Business Loan if you are self-employed, whether as a professional or non-professional, such as a trader, proprietorship, partnership, or public or private limited company.

A Secured Business Loan can support your business by covering working capital, investing in technology, improving infrastructure, setting up new units, or scaling up production for future demand

Cash deposits or withdrawals are not allowed directly from the loan account. All transactions are through cheques, ECS, NEFT, or RTGS.

You can conveniently manage loan repayment through various channels like ECS and NACH or by writing a cheque favouring Aditya Birla Finance Limited.