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  • Dhanlaxmi Bank Business Loan

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  • Dhanlaxmi Bank provides unsecured loans that are ideally aimed to provide financial aid towards business needs of self-employed professionals, business owners and even doctors. These loans can help out in the growth or urgent financial demands of any business.

    Where can a Dhanlaxmi Bank Business Loan be used?

    This unsecured loan is provided to self-employed individuals or entrepreneurs for the sake of furthering their business. Long repayment terms allow the loan to function as an effective working capital tool.

    Who can apply for Dhanlaxmi Bank Business Loan?

    An unsecured business loan as this has a few eligibility criteria to be met in order for the financial institution to be able to sanction the loan. The eligibility requirements can be mentioned as follows –

    1. Applicants can be individuals, professionals, sole proprietorships, partnership firms and private limited companies (including closely-held public limited companies)
    2. Applicants should be at least 23 years of age when the loan is sanctioned
    3. The minimum turnover per financial year should be as per the bank’s discretion in case of Proprietorship, Partnership Firm, Private Limited Companies, Limited Companies (closely held), Societies and Trusts
    4. The minimum occupational stability for individuals and non-individuals is 5 years prior to the application of the loan and 4 years should have been spent in the current venture with a positive trend of returns

    What are the types of Financing under Dhanlaxmi Bank Business Loan?

    Business Loan from Dhanlaxmi Bank is a specific term loan with repayment period of up to 5 years.

    What are the loan limits under Dhanlaxmi Bank Business Loan?

    Based on the credit-worthiness of the applicant and validity of documents, Dhanlaxmi Bank can provide loans from INR 10 lakhs up to INR 5 crores.

    What are the interest rates for Dhanlaxmi Bank Business Loan?

    Interest rates for a Business Loan could depend on the base lending rate and is based on the discretion of Dhanlaxmi Bank. Further changes to the rates could be done by Dhanlaxmi Bank as and when required.

    What documentation is required during applying for Dhanlaxmi Business Loan?

    The standard list of required documents for applying for this loan are mentioned as follows –

    1. KYC (Know your customer) & Constitutional Documents
    2. Audited Financial report
    3. Borrower & Key Personnel Profiles
    4. Borrower Existing Bank Sanction Letter
    5. Borrower Existing Bank Statements (normally 6 months)
    6. Borrower External Rating Report (if available)
    7. Key Personnel Net worth Statements

    The above set of documents comprise the minimum required list. To aid in credit approval, Dhanlaxmi Bank might ask for extra documents if necessary.

    What are the features of Dhanlaxmi Bank Business Loan?

    The Business Loan from Dhanlaxmi Bank is a good financing option for urgent financial needs on business grounds.

    Some key features of this specialised loan are as follows –

    1. Loan tenure or repayment period can be as high as 60 months
    2. Minimal documentation and faster approval
    3. High loan amounts up to INR 5 crores

    How to apply for Dhanlaxmi Bank Business Loan?

    The loan can be applied for through Dhanlaxmi Bank’s website, as well as forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail Dhanlaxmi Bank requesting an executive assistance for application process.

    One can also apply for Dhanlaxmi Bank Business Loan through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.

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