"Starting a New Venture" is an exciting adventure but it’s not an easy task. The biggest challenge that start-ups face is obtaining sufficient capital to support their growth. With a little financial upraise, new entrepreneurs can hire employees, purchase equipment and maintain other start-up costs while getting their business off the ground. If you have talent and a robust business idea and want to turn it into a successful business, then you will need to secure a loan to get started. Many of banks and financial institutions provide financial assistance to the budding entrepreneurs in all stages of business lifecycle, as the ShubhBank helps you for the same. The start-up loan from ShubhBank is specifically aimed at financing the new ventures with little or no business history. The loan features are listed below:
- We provide the facility to apply online which is quick and convenient way for every borrower.
- We requires minimal documentation.
- Competitive Interest Rates- depends upon the credit history of the applicant.
- Flexible loan quantum, tenure and repayment options.
- Faster disbursal process.
The journey of an entrepreneur can be very adventurous and frustrating too as serving the funds for their start-up could be one of the toughest challenge. So before applying for the start-up loan, keep the following things in your mind:
- Robust business plan- covering the goals and objectives of business, a clear growth chart including the returns to be generated.
- Application of your business funds.
- Estimation of required funds.
It is best to make a careful preparation before accessing a start-up financing that will further help you make a positive turn to secure a loan. The first thing we would consider as lender is your experience and how much prepared you are for your new venture. Your credit score is most important as it is the major factor that a lender can assess for a start-up business loan. Not only your passion get you a loan, you need to know the right way to secure it. So to check on yourself just look at these aspects of your business before "Applying For a Loan" to avoid any rejection.
- Your business profile
- Your strategic plan
- Your financial strength
We pre-screen your application to assure that you are likely to qualify as per our credit criteria. The eligibility criteria for the one looking for funds should be between 21 years and 60 years old and requiring your business documents, bank statements and KYC documents. The documents required for the process is simple and straight forward. Following documents will be required like PAN card, ID proof, address proof, six months bank statement and proof of business existence. The loan interest rate depends upon your credit-worthiness, borrowing history and the factors reflecting your financial capability. You can check your eligibility, loan quantum you can secure, EMI structure by signing up with ShubhBank.com. It is very simple and above all, free to check. Just click on our website and apply for the start-up loan.