Frequently Asked Questions on Business Loan
Q. What are the eligibility criteria for getting Business loan?
A. Any person whose business is operational more than 5 years with good earnings is eligible to apply for a business loan. Further, Banks will evaluate your business on different parameters like the profitability of business, kind of proprietorship, past record of repayment of previous loans, turnover (For example, if the annual turnover of your business is Rs 1 crore then your loan eligibility will be for Rs 35 lakh for three years) etc
Q. What is the minimum and maximum amount of Business loan I can get?
A. You can get a loan from anywhere between Rs. 5 Lakh to Rs. 35 lakh.
Q. What is the minimum and maximum tenure for repayment of Business loan?
A. The tenure ranges from 12 months to 36 months
Q. How many days will be required for disbursement of loan?
A. From the day of submitting your complete documents to our executive to loan disbursement by bank, it will take around 7 to 10 days.
Q. Is there an option of prepayment of Business loan?
A. Yes you can prepay your business loan however it is chargeable by the bank and its charges varies across the banks.
Q. From which month my EMI will be start deducting from my account?
A. The EMI will start from the next month of loan disbursal. For example, if your loan gets disbursed on 1st May, then your EMI will start from 1st June
Free Finance Services™
Free Finance Services™ deals in every financial product like personal Loan, home Loan, business Loan, Loan against property, OD CC limit etc. Free Finance Services is a leader in providing Loan related services in Delhi NCR. Our aim is to give greatest Loan deal to our clients in the competitive market. FREE FINANCE is commenced by a group of experienced persons in the field of financial services mainly related to Loans.
Our Services at a Glance (Call us-9910831827) *T&C APPLY
Salaried Personal Loan | Home Loan | Loan Against Property | Car Loan | Business Loan | OD CC Limit |
Note: Minimum Turnover/Sale Req.-50 Lakhs
Note: CIBIL Defaulter Do Not Call Us.
