School Loan

A good education has the power to change a life. The children of today are gearing up to become adult citizens of tomorrow. The growth is parallel to the future of our country, reflected through the quality of the present education system. Modern schools require modern advancements in technology, this enables better learning for the new age students. To achieve this, educational institutions need to constantly grow and make changes with each passing year. However, financing such advancements is not that simple, schools will require large amounts of capital to cover all the costs and meet these requirements. Schools have a unique nature of functioning. It receives maximum income during the period of admissions. So the school loan repayment has to be in accordance with the pattern of the fees receipts. It will make it easier for schools to maintain cash flow throughout the year and repay the loan on a timely basis.    

Features and Benefits of School Loan

School loans are extremely beneficial for educational institutions to expand and grow. The funds from the loan can be used for the construction and renovation of private schools to improve educational infrastructure. The following are the benefits of getting a school loan. They are as follows:

● Repair and Renovation:

With sufficient funds schools can manage the cost of any repairs of any damage done to the school premises whether it be due to harsh weather conditions or a yearly maintenance check of the school property.

● Construct New Buildings:

School construction can help create new wings and rooms that will help improve the overall ambience for the students. A new laboratory, library, and additional classroom can make space for more students.

● Technological Advancements:

Providing good internet connectivity throughout the school campus allows teachers and other faculties to connect and use technology for advanced and improved learning. Use of the latest technology will contribute towards a modern way of learning and help teachers be equipped for the same.

● Sports Equipment Facilities:

With school loans for private schools, better sports equipment, and facilities can be introduced. Getting the latest sports equipment will help perpetuate better physical education for the students, which will encourage students to be more active, as sports form an integral part of their education.

Loan Eligibility Criteria

To be able to avail a loan with ease you need to fulfill the eligibility criteria only then you are eligible for a loan for your business.

  • The applicant needs to be a citizen of India to be eligible for a business loan.
  • The applicant needs to be a self-employed individual.
  • Self-employed individuals between 26 - 66 years are eligible for a business loan.
  • The business vintage must be at least 3 years.

Documents Required for School Loan

The following are the list of documents required for business loan

  • Identity Proof- Personal KYC, PAN Card, Aadhar 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

Documents Required for Self-employed Individuals

  • PAN card/ IT return documents of the borrower or Municipal tax, Water, Electricity bill
  • Identity proof such as passport, driving license, voter’s identity card, PAN Card
  • Proof of residence such as Driving license, Passport, Voter’s ID

Documents Required for Self-employed Individuals-Non Professionals

  • Proof of identity of the sole proprietorship
  • Three years of income tax returns
  • Three years of sales tax return documents
  • A copy of periodic stock and creditors-statement for last three months
  • Bank statement of the last 6 months of the applicant

How to apply for a Business Loan at Finserv MARKETS?

The following are the steps to apply for a Bajaj Finserv Business Loan

Online Form Filling

The online application process makes it easier for anyone to apply for a loan for your business. You simply need to fill in your personal and employment details to get started with the process.

Specify Loan Details

You need to provide your loan details specifically like the amount you require for your business and the repayment tenure of the loan.

Approval & Disbursal

Our representative will process your loan application within a few hours after you submit it. With loan approval in 3 minutes, you can expect to get the money credited in your bank account within 24 hours.

Business Loan Disbursement

Quick disbursement of loan makes it easier for a business owner to utilize it for their business. Your Business Loan amount would get disbursed within a few hours after you get done with the final paperwork.

Get a business loan at Finserv MARKETS and fulfill all the financial requirements with ease. At Finserv MARKETS, you can avail loans at attractive interest rates for 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. You can simply apply for the loan online and get pre-approved offers for an instant loan without security from Finserv MARKETS. By applying for a business loan at Finserv MARKETS, you can check your CIBIL Score for free and also obtain a Financial Health Check Report(FHCR). That will provide you with detailed analysis of your financial health and ways to maintain it in the future.

The Finserv MARKETS App makes the process of getting a loan quite simpler for business owners. Finserv MARKETS offers a wide variety of products that are designed to help businesses manage their business operations conveniently. You can avail a business loan at Finserv MARKETS and finance your business. Anyone from self-employed non-professionals to a self-employed professional can apply for a loan and finance their business.

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