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Factors That Determine Your Business Loan Approval

Want your business loan application to get approved fast? Be aware of the eligibility criteria and the factors lenders consider before sanctioning the loan.

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Factors That Determine Your Business Loan Approval

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  1. Factors That Determine Your Business Loan Approval

  2. Business Loan – What and Why? • It helps you raise money from financial institutions for your business. • You must repay the loan with interest over a certain time. • Business loan helps you expand or advance your venture.

  3. Different Types of Business Loan • Secured business loan- Available against an asset pledged as collateral. • Unsecured business loan- Provided based on applicant’s profile, income, credit score. • Business loan examples- Working capital loan, start-up loans, equipment financing and more.

  4. Business Loan Benefits • No collateral is needed for unsecured business loan. • Loan interest amount is subject to tax deduction. • Business loans are designed as per your requirement. • Instant disbursal with minimal paperwork.

  5. Factors Affecting Your Loan Approval • You should be between 25 and 60 years. • Your business should have stable income and promising growth strategy. • Strong credit history required. • Business must have sufficient cash flow. • You must have a proper business plan, goal, sales projection.

  6. Business Loan Eligibility Criteria • Age between 25-60 years. • Minimum three years in current business. • Strong credit history. • Last three years’ audited financial statements and ITR from the preceding year.

  7. Get Your Business Loan With a Few Simple Steps • Visit your preferred lender’s branch or apply online. • Submit the required documents. • Once your documents are verified, get instant loan approval.

  8. Conclusion • Business loan helps in expansion or setting up of a business. The loan process is hassle-free too. Apply now.

  9. Thank You !Would Love to Hear From You Hero FinCorp Limited 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel. 18001024145 Email Id: Corporate.Care@HeroFinCorp.com Website: https://www.herofincorp.com/ Know more- Factors That Determine Your Business Loan Approval

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