what is the easy way to get business loan ?
You need to provide the following to a Bank for them to evaluate approval of a business loan.
- Purpose of the Loan.
- Your estimate as to how much loan you need, tenor of the loan and repayment amount.
- What would be your contribution - Owners contribution towards the project.
3a. Feasibility report of the project if it is a new project. - Cash flow projections of the project for which you need a loan.
- Three year past audited financial statement of your company for which you need a loan.
- Owners profile and networth details.
- Security that you are willing to provide.
These are the few of the papers you need to keep it ready and thereafter approach a bank for the loan.
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