Long Term Business Loan: Apply for a Long-term Business Loan Online

A long-term business loan is a type of financing that businesses use to fund major expenses or support expansion plans. These loans come with extended repayment tenures, typically 36 months or more, and can go up to 8–10 years depending on the lender and loan type.

Business loans with longer terms are preferred as they allow repayment through lower EMIs but flexible tenure, making it easier to manage cash flow. This makes them suitable for high-value requirements that cannot be covered through short-term funding.

Businesses typically use these loans to fund major investments, such as:

• Purchasing commercial real estate

• Acquiring machinery or equipment

• Expanding the workforce

• Launching a new venture

• Setting up a new branch or office

• Buying business assets

• Upgrading operational capacity

A business loan calculator helps you estimate your EMI based on the loan amount, interest rate, and repayment tenure. This is especially useful when planning repayments for long term small business loans, where tenure plays a major role in determining affordability.

To calculate your EMI, enter the loan amount, interest rate, and tenure. For example, if you take a loan of ₹50 Lakhs at 14% p.a. for 96 months, your EMI would be approximately ₹86,857.

Choosing a longer tenure reduces your EMI but increases the total interest paid over time. Using a calculator allows you to compare options and select a repayment plan that aligns with your business cash flow.

Despite the convenience on offer, lenders set up certain eligibility criteria that you must fulfil to secure the loan. 

Read on to learn the eligibility criteria for availing a business loan on Bajaj Markets:

• You must be an Indian citizen
  

• Your credit score should be 700 or more
  

• Your minimum age must be 21
  

• The business must be operational for at least 1 to 3 years
  

• Your business must register as a partnership, limited liability partnership (LLP), or private limited company
  

• The annual turnover of the business has to be at least ₹1 Lakh or more, depending on the lender’s criteria

To secure a long-term business loan, you will have to submit the following documents:

Identity Proof (Submit any one of the following)

• PAN Card
  

• Aadhaar Card
  

• Passport
  

• Driving Licence
  

• Voter ID

Address Proof (Submit any one of the following)

• Aadhaar Card
  

• Passport
  

• Driving Licence
  

• Utility Bills
  

• Lease Agreement
  

• Voter ID

Income Proof (Submit any one of the following)

• Income Tax Return (ITR), along with certified copies detailing income computation, Profit and Loss (P&L) statement, and balance sheet for the last 2 years
  

• Bank statement for the last 6 months

Business Proof (Submit any one of the following)

• Sole Proprietorship Declaration
  

• Authenticated copy of the Partnership Deed
  

• Certified copy of Memorandum and Articles of Association

You can apply for a business loan online on Bajaj Markets by following these simple steps:

1. Click here to start your application
   

2. Select your profession, enter your mobile number and pincode
   

3. Verify your mobile number using the OTP sent to your phone
   

4. Accept the terms and conditions after going through them carefully
   

5. Click ‘CHECK YOUR OFFER’ and follow the next steps as guided by the representative