1. Business Documents
- Business Registration Certificate: Proof of registration (e.g., Partnership Deed, Certificate of Incorporation).
- Business Plan: A detailed plan outlining business goals, market analysis, financial projections, and operational strategies.
- Financial Statements: Audited financial statements for the last 2-3 years, including balance sheets and profit & loss statements.
- Tax Returns: Income tax returns for the last 2-3 years for both the business and the owner.
2. Personal Documents
- Identity Proof: Aadhar card, passport, voter ID, or any government-issued ID.
- Address Proof: Utility bills, lease agreement, or any official document with your address.
- Photographs: Recent passport-sized photographs.
3. Financial Documents
- Bank Statements: Statements for personal and business accounts for the last 6-12 months.
- Cash Flow Statement: Projections of cash inflows and outflows.
- List of Assets: Details of any assets that can be used as collateral.
4. Loan Specific Documents
- Loan Application Form: Filled application form provided by the lender.
- Purpose of the Loan: A clear explanation of how the loan will be used (e.g., working capital, equipment purchase).
5. Collateral Documents (if applicable)
- Valuation Report: For any assets offered as collateral.
- Title Deeds: If real estate is being used as collateral.
Additional Considerations
- Credit History: Lenders may check your credit score and history.
- Guarantors: Some lenders may require personal guarantees from business owners or third parties.
Tips
- Always check with the specific lender for any additional documentation they might require.
- Keep documents organized and ready to present for a smoother application process.