Employee | Posted on
Hi, It all depends on whether it's a startup business or already it is established in the market. In fact, both the loans are secured and need collateral or guarantor to approve it.
For a startup business loan, you need to provide a business plan, financial statements, business proofs with required collateral documents.
For already running business loans you need business proof, current bank statements, income tax papers, financial documents with a guarantor.
By the end of the day, all type of loans requires a good credit history.
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seo analyst | Posted on
Credit score.
Cash flow and income
Age of business
Current debt
Type of business.
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There is often a fear surrounding small business loans and SME loans that one needs a lot of documents that make it difficult to get a loan. A few days back one of my friends wanted to opt for a small business loan and he received it in 4 simple steps from smecorner. All he had to do is submit a simple application along with his recent documents, know the financial eligibility, and receive funds. Getting a small business loan was never that easy before.
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