Typical Challenges Businesses Encounter When Applying for a Business Loan
Processing Fess & Hidden Charges
Businesses often feel frustrated by hidden charges and unexpected fees, impacting their financial planning. Some Banks & NBFCs have zero processing & loan rates are as per RBI guidelines, dependent on the profile.
Applying to multiple banks & NBFCs is a Hassle
Applying to multiple banks can be a hassle for businesses, involving extensive paperwork and significant time commitments.
A Major Loan Hurdle is Collateral requirement
A key challenge in securing business loans is the collateral requirement, which can risk essential assets and complicate the process for smaller companies.
Loan Transparency Issues in Business Financing
Loan document transparency issues can confuse borrowers, as complex jargon obscures key terms and fees, leading to potential unexpected costs and impacting decision-making and financial health.
What is the application process of Business loan?
Check your eligibility
With just a few details, check your eligibility for a business loan
Submit Documents
Once eligible for Business loan banks ask you to submit documents for validation.
Get a loan offer
Banks & NBFCs will formulate a suitable offer for you.
Sign your loan agreement
Share your KYC with banks or NBFCs.
Grow your business
You will get the funds in your account after verification
Some Common Documents asked by Banks & NBFCs
Submit basic documents like ID proof, address proof, and ITR, business financials etc. Here, we have summarized some documents frequently asked by Banks & NBFCs
PAN Card
Aadhar Card
Bank Statement
Registration Proof
GST Certificate
Company PAN*
Some Commonly offered Loan terms
Loan Amount: ₹50 Thousands - ₹ 5 Crore
Interest Rates**: 1 - 2% per month
Loan Tenure: 1 month - 5 years
Zero Processing Fees
Saraso Consultants made the process of checking loan eligibility incredibly smooth. Their team is professional and approachable. Thanks to their assistance, my startup is now on a growth trajectory.
Rohit Banerjee
Founder and CEO of a Tech Startup
Saraso Consultants simplified the complex loan eligibility requirements for my small business. Their expert guidance and seamless process helped me secure the funding I needed without hassle. Highly recommend their services.
Aishwarya Ghosh
Owner of a Boutique Fashion Store
As a medium-sized enterprise owner, Saraso Consultants' in-depth knowledge and personalized approach made the experience stress-free. Thanks to their support, I secured the loan and expanded my operations. Kudos to the Saraso team!
Vikram Das
Managing Director of a Manufacturing Company