Frequently Asked Questions

A business loan is an unsecured loan that is designed to cover various deficits in a small scale or big scale businesses without promising any collateral.

You can avail loan up to Rs 2 Crore through Buddy Loan online with business loan eligibility criteria. Once you submit the application you will be acknowledged well within 48 hours.

Getting approval on your business loan online via RBS loan Crown Membership Card, the application process is easy. Please keep the latest documents required by the organization. The eligibility criteria differ marginally with different organization.

However, most often the approval is mostly dependent on your credit history. You could also check refer: your eligibility criteria here

• Human Resource
• Building credit for the future
• To purchase more inventory
• A business opportunity that outweighs the potential debt
• business needs fresh talent
• Tax payment
• To expand your physical location.

For more information, please refer to ELIGIBIITY CRITERIAS

And many more emergency purposes.

It takes less than 48 hours for acknowledging the business loan. However, the applicant has a higher benefit of fastest loan approval over a good credit score.

• Age should be between 21 to 65 years
• Cibil score must be 750 or more
• Business Vintage should be minimum of 1 year or above.
• Annual Turnover minimum of Rs. 12 lakh and above for existing enterprises, may vary as per the lender.
• Your balance sheet will be examined by a Chartered Accountant who is registered (CA)

Following documents are required for availing a business loan

• Business proof
• KYC documents of the company
• KYC documents of the business owners
• Photo identity proof (Aadhar card/ Driving license/ Voter ID/ Passport)
• Last six months company bank statements
• GST Certificate
• Last two years Income Tax Returns
• Last two years Balance sheet and Profit & Loss accounts
• A report with detailed information about how the candidate will utilise the business loan.

You can borrow up to Rs.2 Crore without pledging any asset. And can repay the loan amount through a tenure from 6 months to 60 months.

Any credit score that is 750 or above is considered good.

The minimum annual turnover is defined by your lender and varies from bank to bank.

Self-employed professionals, entrepreneurs, business owners, Micro-Small and Medium Enterprises (MSMEs), sole proprietorships, private and public can avail MSME loans.