E-commerce Business Loan

The advancements in technology have introduced many new opportunities for people to operate their businesses online. The e-commerce business world in India is a well of infinite possibilities at this moment. Hence, starting an ecommerce business in India, in current times, is a great idea, considering that the market for it is blooming. The advancement in technology has led to a major boost in the ecommerce business websites and everyone who owns an online business is willing to reap all the benefits that the online market has to offer.

However, the earlier conventional ways of banking or loan systems were unable to keep up with the current needs of loans for the online E-commerce business owners. Let’s have a look at some of the major reasons are as follows:-

• The offline documentation process for ecommerce loans was too tedious for online sellers.

• Online business owners can make the most of convenient banking and financing solutions that will help save time and effort for formalities.

• The quick loan processing and disbursal methods seemed to be easier than the traditional loan application procedure.

• Online sellers can avail additional benefits and attractive interest rate on loan

• The rise in the number of competitors in the online market led to a need for faster and efficient ways of acquiring funds based on the type of business.

To be able to avail a loan with ease, you need to fulfil the following business loan eligibility criteria.

• You must be a citizen of India

• You must be a self-employed individual.

• Self-employed individuals between 26 - 66 years are eligible and can apply for a Loan.

• You must have a business vintage of at least 3 years.

The following are the list of documents required for a loan for business:

• Identity Proof - PAN Card, Aadhaar Card

• Residential Address Proof - Rent Agreement, Driving License, Voter ID, Ration Card, Passport

• Last 6 months Current Account Bank Statement

• GST Registration Certificate

• Shops and Establishment Certificate

As more and more e-commerce businesses are being set up in India, there will be a need for additional sources of funding to get the business going. Business loans available on Bajaj Markets can help ecommerce businesses in their growth. They come at affordable interest rates. With the Bajaj Markets app, you can avail loans, make online payments, buy insurance, make investments, etc. in a convenient way. Offering loans at attractive interest rates, the ecommerce finance can be used in undertaking various business operations, such as an expansion of your business, acquisition of other companies, buying high-value and getting new machinery or equipment, etc.