5 factors that effect your business loan eligibility

5 Factors that Effect Your Business Loan Eligibility

Business plan𖤓 Like a personal loan, you

will not get a loan when you ask for without stating your plan. A business loan will need a well proof plan to work you out. If the loan provider feels that the plan will work and will reap profits in the future, you are good to go.

IncomeYour income will be considered. It is an important eligibility check done on borrowers. If your business is there in the market for a year, the loan provider will see the income earned. And in case you are starting, the business plan will be considered..

Credit History

𖤓 Your credit score and credit history will be considered before approving your business loan. If you are having an impressive score, it proves your repayment ability.

Age 𖤓 Age will be an important

eligibility check when you apply for a business loan. The minimum age for taking a business loan is stated as 25 years and higher. Anyone who is below that can be a little risky, during the repayment. Age is very important to understand the mentality and ability to repay the loan.

Documentation 𖤓 You need to present every

document on the table. You cannot miss one as that can delay or reject your loan application.

Identity proofAddress Proof

Ownership proofBusiness continuity proof

Contact Us   Address: 901b, 9th Floor, Two

Horizon Centre, DLF Phase V, Gurgaon, Haryana, India – 122002

Telephone No: 1800 200 9898

Email: hello@clix.capital

Website:https://www.clix.capital/business-loan/

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