Business loan Interest rates start at about 9 %. It can vary based on the customer profile. Individuals with good credit history are likely to get business loan at lower interest rates.

1. Identify the different loan types:

Based on the business size and specific requirements, applicants can choose from a variety of MSME and SME loans or working capital loans.

2. Choose the lender and the application medium:

After finalization about the type of loan that best suits for your business, choose the lender. We, at Livanity offers you a wide range of lender and find best business loans for your business requirement.

3. Check credit score:

Lenders prefer applicants with a good credit history and a credit score i.e., above 700.

4. Loan application form:

Fill the business loan application form required details Applicants must treat every step of the loan application with the utmost care. The details filled in the application form will be cross verify by the lender prior to approve your business loan.

5. Prepare a business plan:

The applicant must submit a detailed business plan along with the loan application. The business plan should clearly state the purpose of the business, past business track records and future ambitions.

6. Documents: The common documents required for business loan approval are given below:

• company's bank statements for the last six months
• KYC documents of the company (PAN card, ownership papers)
• KYC documents of the business owner (CIBIL score, PAN number)
• financial statements like income tax returns for the last two years
• audited balance sheet for the previous two years

*All these documents must be self-attested and up-to-date.

7. Evaluate the EMI:

Prior to applying for business loan, applicants must always calculate the exact financial requirements of the firm. An amount more than what is required can add to more debt. On other hand, inadequate funds can cause bottlenecks.

Also consider repayment capacity of the firm and then apply for the business loan.



Business Loan Eligibility

Business loans are provided by most of the banks/NBFCs but with different eligibility requirements. However, there are certain criteria that are common for all financial institutions.


Age	21 years - 65 years
Employment Type	Self-Employed
Credit score	Over 675 with a good credit history
Minimum Net Income (Monthly)	The minimum annual turnover of your business should be Rs 10 lakh and the minimal annual income should be 2 lakh
Loan Amount	Up to 55 lacs depending on the credit profile
Work Experience	2 years into the business

Example that represent the EMI against Loan amount

For Rs 50 lakh business loan at an 11 % rate of interest per annum, the EMI for,

• 1-year loan tenure is Rs 4,41,908,
• 2-year tenure is Rs 2,33, 039,
• 3-year tenure is Rs 1,63,694,
• 4-year tenure is Rs 1,29,228 and

*Disclaimer: These are approximate EMI calculations; actual numbers may vary.

Business Loan EMI Calculator

Calculate an EMI and check whether it fits in your monthly budget or not. A loan calculator helps you get the following results:

• Monthly Repayments - EMI you will be paying every month
• Total interest payable - Total interest on your loan
• Total amount to pay - The total amount which is a sum of principal and interest

Business Loan Details


Interest Rates	10 % - 44%
Processing Fee	Differs from bank to bank; up to 2% of the loan amount. NIL Processing Fees for loan facility up to ₹5 Lakhs availed by micro and small Enterprises subject to URC submission prior to disbursal
Loan Tenure	12 months to 48 months
Loan Amount	up to 50 lakhs
Lock-in period	Varies from lender to lender
Pre-closure Charges	Differs; Generally between 2%-4% of the loan outstanding
Guarantor Required	Varies on different conditions

Why choose Livanity for Business Loan?

Livanity is a one-stop solution for all your financial needs. Here, we try to provide you best services that are hassle-free and quick in nature. For business loans, we provide you a comparative analysis of what different banks are offering. We also assist you in your final decision.

Here are a few reasons for you to apply for a business loan at Livanity:

Fast assistance: At Livanity, you can contact us at any official working hours of the day.

Customer needs in forefront: Your needs are our priority. We promise to deliver you with services that are best on our capabilities. By handpicking the business loan offers based on customer profile, we try to give you the most personalized experience.

Compare Offers Online: With more than 100 lenders as partners, you can compare the different offers of financial institutions to make the right decision. In fact, we help you find the best lender as per your eligibility requirements. There is a personalized relationship lender for every customer who helps him/her select the bank of his/her choice.

Real-time customer support: Our customer support team is fast and efficient to clear all your doubts regarding business loan eligibility, procedures, offers, documentation and repayment options. We even contact with the respective lender on behalf of you.