Securing private funding for businesses in India without a robust CIBIL score is feasible through several avenues. Many alternative lenders and strategies prioritize aspects beyond traditional credit scores, focusing on business viability, cash flow, and potential for growth.

Types of loans

Secured loans

Unsecured loans

NPA Files

New Project funding with secured loans

Required documents:-

Most lenders require the following documents for a business loan application:

Identity proof: PAN Card, Aadhaar Card, Passport, Voter ID, or Driving License.

Address proof: Aadhaar Card, Voter ID, Passport, Utility Bills (recent water or electricity bills), or Driving License.

Business proof: Business Registration Certificate, GST Registration Certificate, Trade License, Partnership Deed Agreement, Sole Proprietorship Declaration, or Certificate of Incorporation.

Financials: Last 2-3 years’ Income Tax Returns (ITR), audited balance sheets, profit and loss statements, and bank account statements for the past 6-12 months.

Other documents: As required by the lender, which may include a business plan, collateral documents (if applicable), and GST returns.