If I have borrowed an education loan, can I apply for business loan? If I can then what will the eligibility? - Letsdiskuss
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Aditi Ahuja

Financial Advisor | Posted 16 Apr, 2019 |

If I have borrowed an education loan, can I apply for business loan? If I can then what will the eligibility?

Aditi Ahuja

Financial Advisor | Posted 16 Apr, 2019

Most probability one who have borrowed an education loan, can't apply for a business loan. However if one who wants to apply for a business loan, there will be certain conditions:


1- Your business should be at least 3 years old

2- Your source of income should be stable

3- the minimum turnover of your business should be minimum Rs.40 Lakhs

4- Profit making of the business should be for previous 2 years.

5- Certain other conditions are also there that one needs to qualify for business loan

6- The age limit to apply for a loan should be from 21 to 65 years


There are certain other more conditions that a business should qualify and should be aware of before applying for a business loan.