When you apply for a business loan, your lender checks your creditworthiness for the loan by carefully analysing your financial documents, such as your bank account statements and balance sheets. These documents help the lender determine whether you can repay the loan you need. Depending on your company size and business constitution, your Audit Report…
Has your lender asked you to submit Form 3CB with your business loan documents, but you don’t know why? In this article, you will learn what Form 3CB is and why your lender needs it when you apply for an SME loan. What is Form 3CB? As a business owner in India, if your annual…
Every earning individual and business needs to pay taxes. As a small business, when you apply for a business loan, your lender needs to ensure that you run your business responsibly and fulfil all your financial obligations to the state. So, lenders will ask you to submit certain business loan documents with your funding application…
If your lender is looking for your GSTR-3B, it’s probably because your business is a type that needs to have a GST registration according to the GST Act. In this article, you will learn what a GSTR-3B is and why your lender needs it when you apply for SME funding with a few other business…
If your business loan lender asked you for proof of your business vintage, they are most likely looking for a document issued by a State or Central government that includes your business’s date of incorporation. One such document is your trade licence. In this article, you will learn what a trade licence is and why…
When you apply for a business loan, you will need to give your lender your bank statements for the last 6-12 months in addition to a few other business loan documents. Lenders use your bank statements to assess your creditworthiness and make their decision to lend to you. In this article, you will learn the…
When you apply for a business loan, your lender will ask you to submit proof of your business vintage along with a few other business loan documents. If you’re an SME, you should have an Udyam Registration Certificate. This document, along with your Current Account passbook, can be used as proof of your business vintage.…
When you apply for a business loan, your lender will ask you to submit a colour copy of your PAN card with the other supporting business loan documents. If you’re not sure why they need your PAN in addition to all the other documents you’re submitting, read on to know why. What is a PAN…
Has your lender asked you to submit your Aadhaar card, but you don’t understand why they need it? In this article, you will learn what Aadhaar is and why you need to submit your Aadhaar to your lender to get a business loan. What is the Aadhaar identification? Your Aadhaar is a 12-digit numerical ID…
