Business Loan Checklist: Fill & Download for Free

You can get a business loan for your startup. But you have to provide all documents to get a loan.Checklist of Documents Required for Business LoanIdentity proof- Driving License/PAN Card/ Passport / Voters ID cardAddress Proof (Ration card Tel/electricity Bill/ Passport/ Trade license / Lease agreement/ Sales Tax certificate)Bank StatementLatest ITR along with computation of Balance Sheet, income & Profit & Loss a/c for the last 2 yrs.Proof of continuationOther Mandatory Documents such as Sole Proprietorship Declaration, Certified true copy of Memorandum & Articles of AssociationLast 3 years audited financialsThere are many other ways to fund your startup

The process of business loan differ by lender and the type of loans. There are some other factors that can count such as lender’s guidelines and borrower creditworthiness. Most of the small business lenders in US follow the SBA underwriting guidelines. Most lenders even within the SBA network, however, have sterner guidelines than SBA. Nonetheless, SBA guidelines are useful as a framework for understanding how many small business loans work and what lenders expect when you apply for a loan.The process involved four steps which are;Loan applicationUnderwritingApprovalLoan closingLOAN APPLICATIONThe loan application process begins with you contact your lender and fill the application form for the funding.UNDERWRITINGYour underwriter will process the details from your loan application, examine your business and loan request, and prepare the loan report that goes to credit committee.APPROVALThe lender will then forward your loan request for the approval process to the concern department. They will evaluate your business loan application for approval.LOAN CLOSINGOnce all the items on the closing checklist have been received and successfully reviewed, the loan closing will be scheduled.

Yes, You can apply for a business loan in bangalore. Bangalore is a metro city here you find many NBFC and banks.These are documents and eligibility required to apply for business loanChecklist of Documents Required for Business LoanIdentity proof- Driving License/PAN Card/ Passport / Voters ID cardAddress Proof (Ration card Tel/electricity Bill/ Passport/ Trade license / Lease agreement/ Sales Tax certificate)Bank StatementLatest ITR along with computation of Balance Sheet, income & Profit & Loss a/c for the last 2 yrs.Proof of continuationOther Mandatory Documents such as Sole Proprietorship Declaration, Certified true copy of Memorandum & Articles of AssociationLast 3 years audited financialsList of Common Documents Required for Business LoanApplication Form: Complete loan application form with one passport size photographValid Proof of Applicant's Identity: Passport, Photo PAN card, Voter’s identity card , Driving license and MAPIN cardProof of Residence: Ration card Tel/ Lease agreement/ Electricity Bill/ Passport/Trade license /Sales Tax certificateProof of Age: Passport, Photo PAN card, Voter’s identity cardFinancial Documents: Copies of IT returns for the last two years along with the latest Bank statements for 6 months and P & L and balance sheet for last two years audited by a C.A.Self Employed (Private Ltd. Co. and Partnership Firms): P & L Copies of IT returns for the last two years and P & L and balance sheet for last two years audited by a chartered accountant.Self Employed Individuals - Professionals: Copies of IT returns for the last two years and Bank statements for last 6 months and – Professionals: P & L and balance sheet for last two years audited by a chartered accountantSelf Employed Individuals - Non Professionals: P & L and balance sheet for last two years audited by a chartered accountant and Copies of IT returns for the last two years and Bank statementsDocuments Required for Self EmployedProof of Identity of Private Limited Company: Sales tax / VAT /Service tax / Excise registration, / IT return of the concern, Water / Electricity / Registration under Shops and Establishment Act, PAN ID /Municipal tax bill in the name of the concern, Memorandum and Articles of AssociationProof of Individual Identity: Proof to be submitted for the authorized signatories and about two directors (which includes the managing director) (any one of the following): PAN card, Voter’s identity card, Driving license and PassportDocuments Required for Self Employed Individuals – ProfessionalsProof of identity of sole proprietorship : Proof of identity of the sole proprietorshipPAN ID / IT return of the concern or Municipal tax, Water, Electricity bill in the name of the concernIndividual identity proof to be submitted for the sole proprietor : Passport, Driving license, Voter’s identity card, Photo PAN card.Proof of residence address for the sole Proprietor: Driving license, Ration card, Passport, Voter’s identity cardDocuments Required for Self Employed Individuals - Non ProfessionalsProof of identity of the sole proprietorshipProof of individual identityThree years income tax returnsThree years sales tax returnsCopy of periodic stock, age wise book-debt and creditors-statement for latest three monthsCopy of last 6 months bank statement of main banker / copy of bank statement for the term loan