How to Check your Business Loan Eligibility?
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KYC documentation:
Documentation of age, address, and identity is required for KYC.
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Business turnover and sustenance of business:
Loan eligibility is determined by turnover, profit/loss, and years in business.
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Collateral:
Loans are determined by evaluating collateral assets.
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Financial history:
Repayment history for loans and credit cards is reviewed.
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Credit score:
Credit scores determine creditworthiness.
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Financial statements of your business:
Financial statements and tax returns are essential for a business.
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Business loan interest rate:
Interest rates depend on whether the loan is secured or unsecured.
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Legal documents:
Business registration and licenses are required.
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