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A business loan can be used to build or expand a business unit. The acquired funds can serve overall business expenditures, including purchasing plant equipment, hiring staff, buying office space, consolidating debt, and more. Fortunately, getting a business loan is convenient. As long as you meet the eligibility criteria and have the required business loan documents, you can obtain the funds in just a few days.

Documents Required for Business Loan

When applying for a business loan, you have to present a certain set of documents to support your application. Some of the essential common documents include: 


  • Application Form: Fill the loan application form with the necessary details and provide one passport-sized photograph

  • Proof of Identity:  Passport, PAN card, Voter's ID card, driving license, MAPIN (Market Participant Identification Number) card, and proof of the business being a sole proprietorship

  • Address Proof:  Aadhaar Card, Voter’s ID, Ration card, telephone bill, lease agreement, or electricity bill

  • Proof of Age:  Passport, PAN card, Voter's ID

  • Financial Documents:  IT returns for the last three years, bank account statements of last six months, P&L and balance sheet for last two years audited by a chartered accountant (CA), sales tax returns documents, A copy of periodic stock and creditors-statement for the latest three months

FAQs on Business Loan Documents Required

What are the list of documents required for a business loan?

Below are the list of documents required for a business loan: 

  • Identity proof: Passport, Voter’s ID, driving license, Aadhaar card

  • Residence proof: Passport, Voter’s ID, driving license, Aadhaar Card, ration card 

  • PAN card 

  • For salaried applicants, salary slips of the last 3 months and last 6 months’ bank statements

  • Self-employed applicants have to submit the ITR for the last three years

What is the procedure to apply for a business loan?

You can apply for a business loan by following the below-mentioned steps: 

  • Visit the lender’s official website.

  • Fill in the online application form with your personal and employment details.

  • Specify the loan details, such as your loan amount and loan tenor. 

  • Upload the required documents.

The lender will verify your documents and review your loan application; if everything is satisfactory, your loan amount should be disbursed within 24 hours.

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