Business Loans India | Commercial Loans | Small Business Loans | Business Overdraft | Loan For Entrepreneurs | Loan For Self Employed

In this day and age of cut throat marketing, one cannot afford to loose focus. To reap the benefits of lofty productivity, we need to put in a certain amount of financial resources and hard work.

All market sectors need an initial investment be it manufacturing, retail, leisure, farming, professional practice or service sector. Today, one doesn’t need to be distraught due to lack of funds. There are several lenders in the United Kingdom offering business loans .Procuring a loan against collateral would give you the benefits of getting approval for a larger loan amount, paying a lower interest rate and settling for flexible repayment options. However, if you are a tenant or do not wish to risk your property, you can choose unsecured business loans. In case of an unsecured loan, you have the advantage of quick processing time as no property evaluation is involved.

Encourage the entrepreneur in you. Instead give your business plans a concrete shape with business loans. Whatever be your condition, business loans have something for everyone. All one needs to do is convince the lender about his/her repaying capability through bank statements and annual income proof. Apply for one today and start your business as early as possible. Setting up a business venture becomes a child’s play with this loan plan. So go ahead and see your dreams turning into reality.

Business Installment Loans From ICICI Bank

Eligibility Criteria 
Age     25 yrs. – 65 yrs.
Net Profit
Net Profit after tax – Rs. 150000 p.a
Eligibilty
Doctors, MBA’s, Architects, CA’s, Engineers, Traders & Manufacturers
Years in current Business / profession     3 Years

DOCUMENTS 
Latest 3 months Bank Statement (where salary/income is credited)
Last 2 years ITR with computation of income / Certified Financials
Proof of Turnover (Latest Sales / Service tax returns)
Proof of Continuity current profession/Business (IT Returns / Certificate of business continuity issued by the bank)
Proof of Identity (any one)Passport / Driving Licence / Voters ID / PAN card / Photo Credit Card / Employee ID card
Proof of Residence (any one) Ration Card / Utility bill / LIC Policy Receipt
Proof of Qualification Highest Degree (for Professionals / Govt employees

 Service Charges

* Prepayment of the loan is possible only after 180 days of availing the loan
* Foreclosure charges as applicable would be levied on the outstanding loan
* Part pre-payment is not allowed
* No other fees or commitment charges are levied

Description of Charges    
Loan Processing Charges / Origination Charges
2* % of loan amount + Origination Charges of 1.5% of loan amoun
Prepayment Charges
5% on the principal outstanding
Charges for late payment (loans)
2% per month
Cheque Swap Charges     Rs. 500/-
Cheque bounce charges     Rs. 200/-

Note :

1. Origination Charges are included in the Advance installments/ First installment.
2. Service Tax and other govt. taxes, levies, etc. applicable as per prevailing rate will be charged over and above these charges

* Upto 5% for select categories

Sources : http://www.icicibank.com/