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Home > Videos > Business Loan in Kannada - ಸುಲಭದಲ್ಲಿ ಬಿಸಿನೆಸ್ ಲೋನ್ ಪಡೆಯೋದು ಹೇಗೆ? | How To Get a Business Loan

Business Loan in Kannada - ಸುಲಭದಲ್ಲಿ ಬಿಸಿನೆಸ್ ಲೋನ್ ಪಡೆಯೋದು ಹೇಗೆ? | How To Get a Business Loan

Business Loan in Kannada - ಸುಲಭದಲ್ಲಿ ಬಿಸಿನೆಸ್ ಲೋನ್ ಪಡೆಯೋದು ಹೇಗೆ   What is a Business Loan?   Your business requires working capital to run and function smoothly. Lack of funds may sabotage the ambitious growth plans of your Business. Banks give you money to run your business, which you have to repay with interest, called a business loan.   Interest rates of Business Loan :   Business loans are offered at interest rates ranging from 15-20% a year. A processing fee of up to 1-2% of the loan amount is charged.     Who are eligible for business loans?   Sole proprietorship businesses, partnerships, and private limited companies are eligible to apply for business loans. These days even self-employed but highly qualified people are provided with business loans.   Some Eligibility criteria to avail a Business Loan ;   1. You need to be at least 21 years of age and 65 years when your loan matures. 2. Your business needs to have a minimum turnover of INR 40 Lakhs. 3. You need to have a minimum experience of 3 years in the current business and at least 5 years of total business experience. 4. Your business should be making profits for at least 2 years. 5. You need to have a minimum annual income of at least INR 1.5 Lakhs for a loan of INR 15 Lakhs and at least INR 3 Lakhs for a loan above INR 15 Lakhs. You need to have a minimum Cibil score of at least 700.              

 
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