Business Loans for Private Schools
✓Minimal Documentation ✓Flexible Repayment ✓Collateral Free Loan | Apply for Business Loan Now!
Education has the power to change lives, which is why educational institutions must constantly evolve with time. It is a known fact that modern schools require modern advancements in technology to enable new-age students to learn in a better way. However, such advancements need money as there are costs involved. This is where a school loan comes into the picture. This article will take a deep dive into the features, benefits, and the eligibility criteria of a business loan for school. Read on to know more.
To avail of a school loan from Bajaj Markets with ease, you will need to meet the following eligibility criteria:
The applicant needs to be a citizen of India to be eligible for a school loan.
The school loan applicant needs to be a self-employed individual, or in this case, the owner of the institution.
Self-employed individuals between 26-66 years are eligible for a school loan.
How to Apply for a School Loan?
The following are the steps to apply for a School Business Loan at Bajaj Markets.
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Online Form Filling
The online school loan application process makes it easier for prospective borrowers. One must fill in their personal and employment details to get started with the process. Once completed, the user will be allowed to initiate the next step.
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Specify Loan Details
One must also provide the terms on which they are willing to accept a loan, like the amount they require for their business and the repayment tenure of the loan.
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Approval and Disbursal
The application will be approved in 2 mins, once the eligibility criteria is fulfilled. Post which, the submitted documents will undergo a comprehensive verification process. The applicant will be intimated once the process is completed. If any additional documents are required, the representatives will reach out and request for the same. If everything is in order and the loan is approved, the applicant can expect the money to get credited into their bank account within 24 hours.
The list of documents required for a business loan for a private school are as follows:
Identity Proof: Personal KYC, PAN card, Aadhaar card
Residential Address Proof: Rent agreement, driving license, voter’s ID, ration card, passport
Last 6 months Current Account bank statement
GST Registration Certificate
Shops and Establishment Certificate
Self-Employed Individuals |
Self-Employed Individuals (Non-Professionals) |
PAN card/ITR documents of the borrower or municipal tax/water/electricity bill |
Proof of identity of the sole proprietorship |
Identity proof such as passport, driving license, voter’s identity card, PAN card |
Three years of income tax returns |
Proof of residence such as driving license, passport, Voter’s ID |
Three years of sales tax return documents |
A copy of periodic stock and creditors statement for the last three months |
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Bank statement for the last 6 months |
If, despite all the above information, you find yourself struggling to get a business loan, you can easily get one through Bajaj Markets. At Bajaj Markets, you can get business loans at attractive interest rates. These loans can be used for undertaking various business operations, such as business expansion/acquisition, purchase of high-value machinery or equipment, or hiring staff, among others.
Apply for the loan online and get pre-approved offers for an instant loan without security from Bajaj Markets. By applying for a business loan at Bajaj Markets, one can also check their CIBIL Score for free and obtain a Financial Health Check Report (FHCR). The FHCR will provide the individual with a detailed analysis of their financial health and highlight ways of maintaining their credit score.
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