As an entrepreneur in India, one of the best ways to expand your business is to apply for an entrepreneur loan, available on Finserv MARKETS. With the funds obtained by availing of an entrepreneur loan in India, you can invest in business infrastructure, improve the quality of your goods or services, and upgrade your machinery.

Features and Benefits of Entrepreneur Loan

By availing an entrepreneur loan in India, you get to enjoy many benefits. Some of the useful features of a business loan, available on Finserv MARKETS, are listed here:

  • You can avail of unsecured loans going up to ₹30 Lakhs in a hassle-free manner on Finserv MARKETS.

  • These are collateral-free loans, so you do not need to worry about pledging your personal or business assets in exchange for the funds.

  • With the documents in place, you can enjoy quick loan approvals in as few as 24 hours.

  • You can also avail the Flexi loan facility on Finserv MARKETS. With this feature, you get a fixed loan limit up to which you can borrow as per your requirements. You only need to pay interest on the amount of loan used.

Eligibility Criteria for Entrepreneur Loan

The eligibility criteria that an applicant must fulfill to avail of a young entrepreneur loan on Finserv MARKETS.

  • Must be aged between 25 and 65 years

  • Must own a business that’s been in operation for a minimum of 3 years

  • Must have filed Income Tax Returns for the said business for at least 1 year

Entrepreneur Loan Interest Rate and Charges

Before you apply for a business loan or a women entrepreneur loan on Finserv MARKETS, these are the interest rates and charges that you should be aware of:

Rate of Interest

Starts at 18% per annum

Processing fees

Can go up to 3% of the loan amount

Penal interest

2% per month + additional taxes thereon

EMI bounce charges

Up to ₹ 3,000 inclusive of taxes

Loan statement charges

₹ 50

How to Apply for Entrepreneur Loan

If you wish to apply for an entrepreneur loan in India, you’ll be glad to know that it’s quite a straightforward process. On Finserv MARKETS, the process is even easier because all you need to do is fill out a simple application form online. If you’re interested in availing an entrepreneur business loan, head to Finserv MARKETS apply for a loan right away.

Documents Required for Entrepreneur Loan

Submitting the right set of documents can ensure that your business loan is processed in a smoother and faster manner. To apply for an entrepreneur loan on Finserv MARKETS, here are the documents you are required to submit.

  • Proof of Identity: ID proofs include any valid documents issued by the government, such as a PAN card, voter ID, Aadhaar card, passport, or driving license.

  • Proof of Address: Passport, ration card, utility bill, trade license, lease agreement, among others.

  • Financial Documents: Bank account statement for the past six months, one copy of your IT return for the previous year, and the audited financials of your enterprise for the two previous years are required.

  • Proof of Business Ownership: In addition to the above documents, you also need to submit proof of business ownership. The documents required for this category depend on the kind of business profile, as explained below:

    • Self-Employed Professionals: Documents issued in the name of the business concern, such as PAN card, registration documents, municipal tax payment receipts, utility bills, or IT returns.

    • Self-Employed Non-Professionals: Individual ID proofs of the owner, registration documents of the sole proprietor, IT returns, the owner’s bank statements spanning the previous six months at least, GST return, and statement of book debt/creditor/periodic stock, among others.

Partnerships and Private Companies: Partnership agreement (for partnership firms), Certificate of Commencement/Articles and Memorandum of Association (for private companies), Income Tax returns, GST returns, and individual proofs of the identity of partners and directors.

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