{"id":10947,"date":"2020-08-20T08:44:45","date_gmt":"2020-08-20T08:44:45","guid":{"rendered":"\/blog\/?p=10947"},"modified":"2020-09-04T12:37:19","modified_gmt":"2020-09-04T12:37:19","slug":"how-to-get-a-loan-to-start-a-business-in-india","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-business\/how-to-get-a-loan-to-start-a-business-in-india\/","title":{"rendered":"How to Get a Loan to Start a Business in India"},"content":{"rendered":"\n<p>Think\nyou have a great business idea but are struggling to find the funds to set the\nball rolling? Funding a business is one of the most critical decisions any\nbusiness owner has to make. Once you have determined the amount of funding\nneeded for the business, taking a&nbsp;business loan is one of the options you\ncan consider.&nbsp;<\/p>\n\n\n\n<p>Several\nbanks&nbsp;offer&nbsp;quick business loans&nbsp;to startups at affordable\ninterest rates and flexible repayment options. Business\nloans tend to be of three types &#8211; working capital loan, machinery loan and MSME\n&amp; SME loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u2022 Working Capital Loan:<\/h2>\n\n\n\n<p>This is a loan that helps you cover your funding needs so you can run your daily operations seamlessly.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u2022 Machinery Loan:<\/h2>\n\n\n\n<p>A machinery loan helps you update your existing equipment or buy the latest machines that can help your business. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u2022 MSME &amp; SME Loan:<\/h2>\n\n\n\n<p>These loans help MSME and SME business owners with money that can give their ventures the boost they deserve.<\/p>\n\n\n\n<p><strong>Additional\nRead:<\/strong> <a href=\"https:\/\/tata-blog.osian.dev\/blog\/aspiration\/business-loan\/what-are-the-different-types-of-secured-business-loans\/\">What Are the Different\nTypes of Secured Business Loans?<\/a>\n \n \n  \n  \n  \n  \n  \n  \n  \n  \n  \n  \n  \n  \n \n \n \n\n \n<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"400\" src=\"\/wp-content\/uploads\/2020\/08\/how-to-get-a-loan-to-start-a-business-in-india-2.jpg\" alt=\"SME Business Loan\n\" class=\"wp-image-10949\" srcset=\"https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/08\/how-to-get-a-loan-to-start-a-business-in-india-2.jpg 770w, https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/08\/how-to-get-a-loan-to-start-a-business-in-india-2-300x156.jpg 300w, https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/08\/how-to-get-a-loan-to-start-a-business-in-india-2-768x399.jpg 768w\" sizes=\"auto, (max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<p>To\navail a <a href=\"https:\/\/tata-blog.osian.dev\/business-loan.html\">business loan<\/a>, you must meet the\nfollowing eligibility criteria:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>You\nmust be between 25 to 65 years of age.<\/li><li>You\nmust have a CIBIL score of 750 or above.<\/li><li>You\nshould own a business that must be profitable for three consecutive financial\nyears.<\/li><li>Your\nbusiness turnover must reflect an upward trend.<\/li><li>Your\nbalance sheet must be audited by a registered Chartered Accountant.<\/li><\/ul>\n\n\n\n<p><strong>Additional Read:<\/strong> <a href=\"https:\/\/tata-blog.osian.dev\/blog\/business-loan\/when-you-need-to-opt-for-business-loan\/\">When You Need to Opt for\nBusiness Loan<\/a><\/p>\n\n\n\n<p>The\ndocumentation required for applying for a business loan is as follows:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Duly\nfilled application form (physical or virtual, depending on how you apply)<\/li><li>Company\nbank statements for the last six months<\/li><li>Income\nTax Returns for the last two years<\/li><li>KYC\ndocuments of the company that includes the Partnership Deed, Registration of\nIncorporation, PAN Card, Memorandum &amp; Articles of Association<\/li><li>Business\nowners\u2019 KYC documents<\/li><li>Details\nof how the business loan will be used<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Conclusion<\/h3>\n\n\n\n<p>Each business has different requirements. As a business owner, you will have to understand what is best suited for your enterprise and choose the financing option that works well with your long-term vision.  <\/p>\n\n\n\n<p>If you already have a business plan ready and are wondering how to get a business loan, you can reach out to Tata Capital for all your loan-related needs and queries. Tata Capital offers a maximum business loan of up to Rs 75 lakh, although it largely depends on each borrower&#8217;s eligibility and business returns. You can also use the <a href=\"https:\/\/tata-blog.osian.dev\/business-loan\/calculator\/emi-calculator.html\">business loan EMI calculator<\/a>&nbsp;to get an exact picture of the EMI you&#8217;d be paying each month. <\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-background has-vivid-cyan-blue-background-color\" href=\"https:\/\/tata-blog.osian.dev\/online\/loans\/business-loans\/home#!\">Apply Now<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Think you have a great business idea but are struggling to find the funds to set the ball rolling?  <\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/business-loan\/how-to-get-a-loan-to-start-a-business-in-india\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":10950,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-10947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Get a Loan to Start a New Business in India? - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"Learn how to apply for a startup business loan in India. Read this blog to know more about eligibility &amp; documents required for a business loan to start a new business. Click for more details!\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Get a Loan to Start a New Business in India? - Tata Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Learn how to apply for a startup business loan in India. Read this blog to know more about eligibility &amp; documents required for a business loan to start a new business. Click for more details!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/loan-for-business\/how-to-get-a-loan-to-start-a-business-in-india\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-20T08:44:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-04T12:37:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/08\/how-to-get-a-loan-to-start-a-business-in-india-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-business\/how-to-get-a-loan-to-start-a-business-in-india\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-business\/how-to-get-a-loan-to-start-a-business-in-india\/\",\"name\":\"How to Get a Loan to Start a New Business in India? - Tata Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2020-08-20T08:44:45+00:00\",\"dateModified\":\"2020-09-04T12:37:19+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"Learn how to apply for a startup business loan in India. 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