When you’re looking to expand your business, a loan can be the key to unlocking new opportunities. But before you apply, it’s essential to understand the eligibility criteria so you can increase your chances of approval.
Key Factors That Lenders Consider
1) Business Vintage
Most lenders require your business to be operational for at least 2-3 years.
2) Revenue & Profitability
A Stable income and positive cash flow boost your chances of getting a loan.
3) Credit Score
A strong credit score (typically 650+) signals financial responsibility.
3) Financial Documents
Banks may ask for ITR filings, bank statements, and GST returns.
4) Collateral (If required)
While some loans are unsecured, offering collateral can improve approval odds and lower interest rates.
How to Improve Your Eligibility
- Maintain a good credit score by paying dues on time.
- Keep financial records updated and accurate.
- Reduce existing debt before applying for a new loan.
- Choose the right loan amount based on your repayment capacity.
Ready to Take Your Business to the Next Level?
At Hexafin Consultancy, we help businesses like yours navigate the loan process with ease. Whether you need funds for expansion, inventory, or working capital, we’ll guide you every step of the way.
📞 Contact us +91 8530113456w today to check your eligibility and get started on your growth journey!