Business Loan

Whether you want to revamp your business or outperform your competitors, with ABM Financial Services business loan, you can grow your business or expand without disturbing your personal investments or applying for multiple loans. Grow your small firm or large-scale company with business loans from ABM Financial Services.

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Features of Business Loan

All loans are not created equal, Business Loan has become a great option for people to use. A business loan can be availed with or without security

Loan Term

The loan amount is based on years in business, profit & current cash flow, It can be up to 50 Lakhs. Tenure for this loan is up to 5 years depending upon your age.

Interest Rate & charges

The rates of interest are 15.65% to 21.20%. The final rate of Interest will depend upon Profile, Loan amount and tenure.

Business Loan- Eligibility

A business loan can be availed with or without security; business loan is for an existing business or to start a brand new one. Our business loan eligibility criteria is applicable for self-employed individuals, proprietors, private limited companies and partnership firms. 

Age

Self Employed (Min-Max) 24 – 70 years

Business Stability

Self Employed 3 years and above

Credit Rating

Applicant should have the bank specified credit score of 750 or above.

Frequently Ask Questions

You can avail of a loan from Rs 50,000/- to Rs 50,00,000/- depending on your income, repayment capacity and respective location product cap.

You get preferred Processing Fee, priority processing and simpler documentation if you have a Current/Saving Account. This is taken into account at the time of disbursal of the loan. You can pay through Standing Instructions to debit you account with the EMI amount.

You pay the loan in equal monthly installments (EMIs). The loan will be paid through post-dated cheques. You can also pay through Electronic Clearing System (ECS ) or a standing instruction to debit your Bank account with the EMI amount.

To obtain the loan, there is absolutely no need to provide any security or collateral.

You can repay your loan over a period of 12 to 48 months

Your Business Loan makes you eligible for tax benefits* as per the prevailing laws. This means that you can save more money by claiming deductions in your income tax, against principal and interest amount repaid.

An EMI is the ‘Equated Monthly Installment’, which is the monthly payment that you make towards repaying your Home Loan on a specified date until your loan is repaid in full.

Documents

Below is the list of documents required for loan process.

  • KYC Documents of promoter and co-applicants
  • Shop and establishment certificate/VAT/Sales Tax Registration Certificate
  • PAN Card
  • Last 2 years financials with audit report
  • Last 6 months Bank statement of all bank accounts
  • Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
  • Proforma invoice of machinery, in case of Plant & Machinery Loans
  • Property Documents in case of Property Term Loans
  • Registered partnership deed
  • KYC of partners
  • PAN Card of firm and partners
  • Shop and establishment / VAT/ Sales Tax Registration Certificate
  • Last 2 years financials with audit report
  • Last 6 months Bank statement of all bank accounts
  • Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
  • Proforma invoice of machinery, in case of Plant & Machinery Loans
  • Property Documents in case of Property Term Loans
  • Memorandum of Association(MOA) / Articles of Association(AOA)
  • Latest shareholding pattern
  • KYC of Directors
  • PAN Card of the entity and Directors
  • Last 2 years financials with audit report
  • Last 6 months Bank statement of all bank accounts
  • Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
  • Proforma invoice of machinery, in case of Plant & Machinery Loans
  • Property Documents in case of Property Term Loans

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