Business Loan Application: Fill & Download for Free

The process really depends on which of two main routes you take: bank or lending marketplace.If you go with a traditional bank, you’ll need to assemble a mountain of documents (such as personal and business tax returns, personal financial statements, business licenses and registrations, articles of incorporation, and commercial leases). Armed with this truckload of paperwork, you’ll then head from bank to bank, seeking the right small business loan for your unique needs.Just know that banks reject about 75% of loan applications. And the kicker to this story is that it usually costs money to apply for a bank loan and the application process takes an average of 29 hours.A online lending marketplace on the other hand, makes it much easier to get approved for a small business loan. First off, you won’t need nearly as much paperwork to apply. Second, an online application connects you with loan options tailored to suit your needs. Third, the application process is totally free; you only pay when your loan gets funded.At Lendio, once your application is complete, one of our funding managers will contact you to discuss all your loan options. Feel free to ask lots of questions and take as much time as you need in order to find the loan that's a perfect match. When your choice is made, your funding manager will help you finish up the details and finalize the loan with your lender. It’s as simple as that.

Problem is that most loans taken by companies of Anil Ambani not by Anil Ambani. These loans are business loan not personal loan. Business loans are given to the businesses by evaluating their business prospective irrespective of their owner. There is no personal guarantee applicable to business loan unlike personal loan.Like common people take home loan or car loan. If common people fail to pay the loan than banks legally capture the home or flat or car. By selling it, bank recover loan dues. But banks does not comes to the person house to occupy his personal belongings like his wife's gold jewellery or his investment in share market etc. Because banks give loan agaist that house or car. But if the common man takes personal loan and he unable to pay it. Than situation would be different.Similarly Anil Ambani does not taken that Rs. 80,000 crores personal loan but it's business loan, which given agaist their companies. So banks cannot ask Anil Ambani to sell his house. Nor Anil Ambani will do it. Now a days many common people are not able to pay their home or car EMIs. I know many cab owners are not able to pay EMI due to lock down and work from home culture. But they are not paying the bank loan by selling their belongings like jewellery.Moral ground and law should be same for both rich and common people.

To successfully put through a small business loan application, you need to consider factors such as your eligibility and the lender's documentation requirement. Here are a few things you can do to ensure that your loan application is approved:1. Avoid applying to multiple lenders: Applying to multiple lenders can lead to hard enquiries for your credit profile. It indicates that you are a credit-hungry borrower, which can cause your credit score to plummet.2. Meet the eligibility conditions: Check your eligibility conditions set by the lender and ensure that you thoroughly meet their criteria.3. Keep a check on your credit profile: Assess your credit profile and credit score and ensure that it meets the required standards. If not, then work towards improving the same before putting through a loan application4. Maintain a healthy cash flow: The approval of a loan application depends on your repayment capacity. Ensure that your business's financial statements show a healthy repayment capacity.5. Keep your documents in order: Keep all the required documents handy and upload them carefully when submitting your loan application.You can check your eligibility through the lender's small business loan eligibility calculator and apply accordingly.