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It is possible for you to avail a business loan without submitting your Income Tax Return (ITR) document. Many public and private sector banks and NBFCs are now willing to offer a business loan without an ITR. 


As a new business owner or a start-up, you may be too young, and, thus, ineligible to file Income Tax Returns (ITR). However, you can easily avail a business loan at Bajaj Markets from any of our partner lenders at affordable interest rates. Read on to know more. 


Eligibility to Get a Business Loan Without ITR

  • Individuals, companies, retailers, manufacturers, limited liability partnerships (LLP), partnerships, sole proprietorships, cooperative societies, etc., are all eligible to avail a business loan.


  • Start-ups and first-time business owners are also eligible for a start-up business loan.

  • The business loan applicant must be at least 18 years old or at most 65 years of age (at the time of loan maturity).

  • The borrower can apply for a loan amount ranging from ₹10,000 to ₹50 Lakhs, depending on the business requirements and their credit profile.

  • To be eligible for the loan, the applicant must have a credit score of 700 or above. The higher the credit score, the better will be the loan terms.

  • The minimum business turnover is determined by the lender and varies for different lenders.

  • Collateral is not required, except for equipment finance, bill discounting, or letter of credit.

Who Can Apply for a Business Loan Without IT

The following entities can apply for a business loan without ITR:

  • Companies

  • Individuals

  • LLPs

  • Trusts

  • Co-operative societies

  • Partnerships

  • Sole proprietorships

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Documents Required to Apply for Business Loan Without ITR

You need to furnish the following documents while applying for a business loan without ITR from a financial institution:

  • Duly filled application form

  • Passport-size photographs

  • Business plan

  • Identity proof such as a voter’s ID, passport, driving licence, etc.

  • Business existence proof and address proof

  • PAN card of the company, individual, or partner(s), whichever is applicable

  • Proof of residence such as driving licence, voter’s ID, passport, electricity bill, bank statement, rent agreement, etc.

  • Company’s Incorporation Certificate

  • Partnership Deed or MoA (Memorandum of Association)

  • Shops and Establishment Certificates and rent agreement

  • Current account bank statement

What are the Easy Ways to Avail a Business Loan Without ITR

  • There are many government schemes that one may consider for availing a  business loan without ITR. No collateral is required for most of these loans. The Mudra loan scheme is probably the best example of a government scheme that offers loans to businesses without ITR.

  • If you own a property or land, you can pledge it as collateral while applying for a business loan. It makes the process easier and improves the chances of loan approval.

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What are the Ways to Improve the Chances of a Business Loan Approval without an ITR

You can enhance your chances of getting a business loan without ITR by following these steps:

  • Offer a collateral: If you offer a collateral, you don’t need to provide your ITR for getting the business loan approval. Hence, when you ask for a business loan from the bank, you should mention what you will be providing a collateral to get rid of the necessity of the income tax return documents and avail a business loan without ITR.

  • A good CIBIL score can go a long way: Financial institutions, private lenders and NBFCs often provide loans on the basis of a healthy CIBIL score. If your CIBIL score is at least 750, you will be eligible to get unsecured loans. In this case, you will get a business loan without ITR and income proof.

  • Visit a reliable lender for a personal loan: You may visit lenders to borrow money using a personal loan. While you will get the loan without ITR but make sure that you properly understand the terms and conditions of availing the loan.

  • Make sure your documents are ready: If you are a small businessman and want to borrow money to run your business efficiently, you will be eligible to get the loan approval without any requirement of ITR on the basis of certain mandatory documents.

  • Take the help of a co-borrower: By making any family member a co-applicant, you can get approval on your business loan without ITR. In this case, your co-applicant will need to provide his/her ITR to the lender.

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You Can Opt for a Government Scheme

Whether you are a budding entrepreneur or a small enterprise and want to expand your business, you can apply for a government scheme to avail a business loan without ITR. There  are several government schemes which are meant to encourage the youth in the direction of entrepreneurship. You can apply for any one of these if you are eligible:

  • Stand-up India: It was launched by the government to financially support women, people belonging to the scheduled castes, and scheduled tribes. Under this scheme, you can borrow loans for your entrepreneurial venture.
  • Public Sector Bank Loans: MSMEs and entrepreneurs can apply for PSB loans. This loan is sanctioned within 59 minutes.

  • Prime Minister’s Employment Generation Scheme: Under this scheme, any individual who is above 18 years can apply.  The manufacturing projects should be above ₹10 Lakhs and the business projects should be above ₹5 Lakhs.

  • Mudra Loan under the Pradhanmantri Mudra Yojana: Under this scheme, loans of up to ₹10 Lakhs are granted to non-corporate and small enterprises.

  • The National Small Industries Corporation Subsidy: By applying for it, the MSMEs get great financial aid for purchasing the raw materials for their manufacturing units.

  • SIDBI Make in India Loan Fund for MSMEs: Under this scheme, the government offers financial aid to small enterprises that qualify as MSMEs. 

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Benefits of Getting a Business Loan Without ITR

Suppose you are going to launch your start-up or a small enterprise. In this case, the unavailability of income tax return certificate and income proof can create a few difficulties for you. You may need finances to properly establish your start-up or scale-up your small enterprise.

In such a situation, you should be able to get a business loan without ITR so you can invest properly in your business.


That is why  you should visit public and private sector banks, MFIs and NBFCs that can sanction you a business loan without ITR at competitive rates. You should thoroughly read and understand the terms and conditions of the loan before applying for the loan. You should also prefer flexible loan repayment options. But you should also keep in mind that an ITR certificate can help you get the loan at lower interest rates. 


It is highly recommended that Small Scale Industries and Micro, Small, and Medium Enterprises furnish the mandatory documents along with an ITR certificate to get a loan  at an attractive interest rate. In this way, the capital requirements of the business will be fulfilled without any extra burden on your pocket. 


Besides all these benefits, you get the option of using your loan amount on anything.  Consequently, hiring new employees, buying new machinery, and building a new office will be easier for you.  In this way, you can say that a business loan without ITR is an easy and convenient process to expand your business. 

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FAQs on How to Get a Business Loan Without ITR

How much ITR is required for a business loan?

Lenders usually do not specify the minimum ITR requirement for a business loan. However, the higher the ITR, the better are the chances of approval. As mentioned above, many lenders today also offer business loans to start-ups even without an ITR.

Can I get a business loan without ITR?

While it may be difficult, many banks and NBFCs do offer business loans to new start-ups even without ITR.

What are the drawbacks of applying for a business loan without ITR?

Some of the drawbacks of applying for a business loan without ITR include delay in processing the loan application, less amount sanctioned, and comparatively shorter repayment tenure.

Can all kinds of businesses avail of a business loan without ITR?

Yes, all kinds of businesses can apply for a business loan without ITR. However, approval of the loan application is entirely at the discretion of the lender.

Can collateral or security help me get the business loan without ITR?

Definitely. If you own a property, you can consider pledging it as collateral while applying for a business loan without ITR. It will make the process easier and also improve the chances of approval.

Do both public and private sector banks provide loans without ITR?

Yes, private sector banks as well as public sector banks provide a business loan without ITR. But before applying for it, you should read and understand the terms and conditions of the loan as these vary from financial institution to financial institution.

What can help when filing for a business loan without ITR?

There are certain things that can help you in availing a business loan without ITR. For instance, you can offer a collateral or make anyone your co-applicant when applying for a business loan without ITR. Moreover, you can show your business plan to increase the interest of lenders in your business.

What are the cons of applying for a business loan without ITR?

There are some probable cons of applying for a business loan without ITR which may include paying a higher interest rate. It may also be possible that the sanctioned  loan amount will be low. In addition to it, the approval for a business loan without ITR generally takes more time. Keep these pointers in mind before you opt for a business loan without ITR.

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