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Check Eligibility to Apply for Instant Loans, Credit Cards | Doloans
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Before applying for the loan, prepare a business plan, know your credit score, decide the loan amount, do some market research on available business loan options, and keep the documents ready.
Proof of address & photo identity proof of the promoters, business proof, income proof, partnership deed for partnership firm, articles of association, memorandum of association, board resolution, PAN card, etc.
Applicants should be aged between 21 to 65 years, having business vintage of a minimum of 1-2 years. The minimum business turnover and a minimum annual turnover as per the ITR will be required. The business should be profit-making for at least the last 1 year.
Most lenders provide loans to various types of businesses, including sole proprietorships, partnerships, limited liability companies (LLCs), corporations, and more.
A good credit score is often required to qualify for a business loan. Lenders use your credit history to assess your ability to repay the loan.
Some lenders require a minimum operational history for your business, usually ranging from a few months to a year or more.
Lenders may have a minimum annual revenue requirement to ensure your business has a stable income.
Secured loans might require assets as collateral to secure the loan. Collateral can be real estate, equipment, inventory, or other valuable assets.
Lenders often evaluate your business's cash flow to determine your ability to repay the loan.
Min. 21 years at the time of loan application & Max. 65 years at the time of loan maturity.
Individuals, MSMEs, Sole Proprietorships, Partnership Firms, Public and Private Limited Companies, Limited Liability Partnerships, retailers, traders, manufacturers, and other non-farm income-generating business entities engaged only in the services, trading, and manufacturing sectors.
Min. 1 year or above
Min. 1 year, business location to remain same
Shall be defined by the Bank/NBFC
700 or above (Preferred by most private and public sector banks)
Indian citizens
Applicants must own either a residence, office, shop, or Godown.
Particulars
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Charges
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Loan Processing Fees
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4999/- to 5% of Loan Amount
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Loan Cancellation
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Usually 3000 to 5% of Loan Amount
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Stamp Duty Charges
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150/- to 300/-
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Legal Fees
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As per actuals
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Penal Charges
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Usually 2% per month
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EMI / Cheque Bonus
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Approx 499/- to 599/-
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All employees and staffs in DOLOANS are helpful. They are very co- operative and try to clearly understand customer’s needs. I felt very comfortable dealing with them through for my business loan from ICICI bank.
I was a housewife and wanted to start my own kitchen for food delivery. DOLOANS helped me to get a business loan from my preferred bank. The rate of interest is very much affordable and now I have started my kitchen, which is running very smoothly and is profitable.
I never thought getting a business loan will be this easy. Great thanks to DOLOANS for offering such good platform for all loan requirements. I got business loans at 16% ROI and money was disbursed within 8 days of applying for loan.