Bandhan bank business loan
Bandhan Bank Business Loan is a great option for entrepreneurs aiming to expand or finance their business ventures. They can explore various reputable financial lenders offering business loans up to Rs. 75 lakh, with repayment periods extending up to 60 months. Professionals like engineers, doctors, or chartered accountants can access collateral-free business loans, allowing for convenient repayment through equated monthly installments (EMIs). Bandhan Bank is one such institution providing these unsecured business loan options, supporting entrepreneurs in their quest for business growth and development.
Features - Bandhan bank business loan
- Financing available for launching a new business venture or facilitating its growth.
- The loan amount provided is contingent upon the evaluation of the borrower’s documentation and adherence to the bank’s policies.
- Loan duration can extend up to a maximum of 7 years (equivalent to 84 months), including an optional moratorium period of up to 3 months.
- It is mandatory to insure all assets financed through the bank, with the bank’s stipulated insurance clause.
Types of business loan
Working Capital Loan
These financial solutions are thoughtfully crafted to address the intricate demands of daily operational expenses, ensuring your business operations run seamlessly and without interruption.
Business Expansion Loan
If your ambitious plans involve scaling up your business, Bandhan Bank stands ready to furnish the essential capital required for your expansion endeavors, fueling your growth and potential.
Equipment and Machinery Loans
Specifically designed to assist enterprises in procuring specialized equipment or machinery, this loan option serves as a valuable resource for acquiring vital assets instrumental to your business operations and progress.
MSME Loans
Committed to nurturing the growth of Micro, Small, and Medium Enterprises (MSMEs), Bandhan Bank offers a diverse range of bespoke loan products, meticulously tailored to cater to the unique needs and aspirations of these dynamic businesses, fostering their development and prosperity.
Eligibility Criteria -Bandhan bank business loan
Individuals seeking loans for small or medium-sized enterprises, whether as sole proprietors, partners in a firm, or within a Limited Liability Partnership (LLP) structure, should consider the following criteria:
– Age: Applicants should be at least 23 years old, with a maximum age limit of 60 years at the time the loan matures.
– For non-individual applicants, a prerequisite is having a minimum of 2 years of prior experience in the same business sector.
Documents Required
- Know Your Customer (KYC) for the business entity.
- KYC for the proprietor, partner, or key individuals in the company's management.
- Provide evidence of the business's longevity and legitimacy, including documents like the Trade License.
- Present proof of income and financial status, which can include Income Tax Returns (ITR) and GST Returns.
- Verify residential ownership and stability through appropriate documentation.
Note: Requisite documents may vary as per the Loan Amount
Apply for a Business loan in just a few minutes
Applying for a Bandhan Bank Business Loan with Arena Fincorp is a straightforward process. Here are the general steps you can expect:
Arena Fincorp’s Bandhan bank Business Loan EMI Calculator
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Conclusion
Bandhan Bank Business Loans emerge as a compelling and strategic choice for entrepreneurs and business proprietors seeking to fund their growth aspirations. With their enticing features, competitive interest rates, and unwavering dedication to ensuring customer contentment, with Bandhan Bank Arena fincorp serves as a dependable ally on your entrepreneurial voyage. We encourage you to explore their comprehensive range of offerings today and elevate your business to unprecedented heights with the steadfast support of Bandhan Bank.
