Key eligibility criteria:

While specific requirements vary among lenders, common eligibility criteria include:

Business type: Sole proprietorship, partnership firm, private or public limited company, LLP, trust, HUF, or closely held public limited company.

Business turnover: Minimum annual turnover, which can vary significantly depending on the lender and loan scheme.

Demonstrate Strong Business Fundamentals: Be prepared to provide comprehensive financial documentation, including bank statements, income tax returns, and details about your business operations, to showcase your repayment capacity and business potential.

Suitable for Low CIBIL: These options are less reliant on credit scores and can be beneficial for businesses with steady revenue but a low CIBIL score.

Alternative assessment methods: Lenders who offer loans without credit score checks often use their own alternative assessment methods to determine eligibility, focusing on factors like business performance, income stability, and banking transaction patterns.

Application process

Branch visit: Applicants can visit the office location of the desired lender to apply in person.