Business loans allow businesses to perform and broaden their reach. It is a direct benefit to the company to utilize the amount for meeting expenses, expanding business, opening a new branch, or initiating a new venture. But, one needs to learn about their eligibility for business loans. However, Business Loans in Hyderabad are made easy with Loans paradise. Yet, one needs to first learn about their eligibility.
1. Age criteria- The loan applicant needs to be above 21 years of age and not beyond 65 years of age. Plus, the person should be involved in the eligible businesses. The list of eligibility businesses is available with our expert, contact to know.
2. Experience- The applicant must have three years of operational experience in current business and gross experience of 5 years.
3. ITR- The business must have an ITR above 1.5 lahks per annum.
4. Profit- The business should profit from the past two years.
If you meet the above criteria, you can easily apply for a business loan. It is an opportunity you shouldn’t be losing upon. One business loan can help you to meet business expenses as well.