Everybody has a dream to pursue so as you and I, to make dreams come true setting up the best business will be the first step. To envision any business, money plays a major role which when sourced as a loan comes as a boon to one who cherishes his dream. We, the Digit Loan team understand your concerns on business loans and have made the best possible strategies to get business loans hassle-free. Business loans come in different ways to get through like applying online, unsecured, small and medium, for women to empower her.

If you are you a self-motivated entrepreneur whose aim is to turn your passion into practicality and looking to establish and develop your small and medium-sized enterprise (SME), we are here to give you business loans.

In the current scenario in India, SMEs are in continuous need of funds to expand their businesses, meet working capital needs, or make best possible use of business opportunities.  Business loans from Digit Loan can provide an optimal solution to meet such financial requirements.

Business loans, besides their obvious benefit of the right funds at the right time, bear several benefits that make their choice a good one. Quick glance on the benefits of availing a business loan for expansion: 

Business loans can be either utilized to enhance revenues or to achieve competitive edge. So a company may look to open a new division or initiate a marketing drive. You can choose a short- or long-term financing, small loan or large, whichever works suits for you. The plan is that the income generated from such avenues goes towards paying back of the loans, and leaves a neat sum for you to use otherwise. You get to achieve your business goal without burning your pocket.

Banks are generally the first choice when it comes to applying for business loans. Business loans depend on their availability for regular and long-term customers. Though it is tough to get a business loan sanctioned, you feel highly satisfied with lower interest rates.

Digital lending platforms market providing business loans, which work well for the borrower as well as the lender. The business loan processes are simple, affable and hassle-free. Digit Loan offers small business loans in a simple electronic process, ensuring ulterior customer experience.

Business loans can give a vital boost to your company in a practical way. Banks believe in the uniqueness of every business, and provide a wide range of flexible, tailor-made loan products that cater to the specific business needs of SMEs in India. You can choose the right option that meets your requirements.

The repayment options are equally flexible. Based on your business loan needs, most lending companies provide you business loans ranging from Rs 1 lakh to Rs 1 crore for different tenures. SMEs taking business loans against receivables can repay it in a single “bullet” installment at maturity, while those taking unsecured loans can repay through EMIs.

The following documents are required along with your Business Loan application:

• PAN Card – For Company/Firm/Individual
• A copy of any of the following documents as identity proof:
• Aadhaar card
• Passport
• Voter’s ID card
• PAN Card
• Driving License
• A copy of any of the following documents as address proof:
• Aadhaar Card
• Passport
• Voter’s ID Card
• Driving License
• Bank statement of the last six months
• Latest ITR along with computation of income, Balance Sheet and Profit & Loss account for the previous two years, after being CA Certified/Audited
• Proof of continuation (ITR/Trade license/Establishment/Sales Tax Certificate)
• Other Mandatory Documents [Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)]

The people who are eligible to apply for a Business Loan:

Self employed individuals, Proprietors, Private Ltd. Co. and Partnership firms concerned in the business of Manufacturing, Trading or Services.

The company should have a minimum turnover  _________

Individuals who have been in the current company for a minimum of three years, with five years of total business experience.

Those whose business has been profit making for the previous two years

The business should have a Minimal Annual Income (ITR) of ___________ applicant should be at least 21 years at the time of applying for the loan and should be less than 65 years at the time of loan completion

Sample data

Equipment Loan/Machine loans are availed by any business to improve the productivity & efficiency of the business.

Most common types of equipment loans are availed to buy Earth Moving equipment’s, CNC machines, Industrial equipment’s, Medical Machines, Dental equipment’s, Cranes, Precision tool cutting equipment’s etc.

These machines can either be purchased or can be leased, which again paves a way to a question “Loans or to Lease”.

Women in India need to be encouraged to be independent of their action by supporting them with financial assistance like providing them sufficient funds in terms of Business Loans to create sustenance in keeping their dreams alive and come true. We, in Digit Loan, believe in empowering women by encouraging in pursuing their goal of building a sustainable environment through their business ideas.