Eventually, people with all these things are regarded as successful, and hence, their life becomes great.
And the best way to earn money quickly and to live such a life is to start a business. A business is just the way by which a person can work according to his or her liking and convenience. Still, the amount of money and satisfaction that business people get is a lot more as compared to other people. Hence, the new, the upcoming generation is leaning towards entrepreneurship.
And being an entrepreneur is a very good thing because one entrepreneur is capable of creating a number of jobs, through which many families can get a living. It also is helpful to the overall GDP of the country. The status of a country, in terms of economy, literacy, productivity, currency ratios, the standard of living of the civilians, etc. everything contributes to the overall picture of a country that is portrayed in front of the world. And one of the most important things that influence this portrayal is the country’s GDP. And again, one of the most important things that influence the GDP of a country is the number of successful business houses in the country.
Therefore, it is necessary that a country has a large number of entrepreneurs to keep the country in good shape.
Now, when a person thinks about all the material things that are required to start a business, the first thing that comes to the mind is capital. Money is the most important asset of a person when he or she thinks of starting a business. And according to surveys, about 70 per cent of new entrepreneurs require loans to satisfy their monetary needs.
And when it comes to business, one of the most important cities, which houses a large number of entrepreneurs, is Ahmadabad, the capital city of Gujarat.
Who is Eligible to get a business loan in Ahmedabad?
A person who currently is running a business with good earnings or wishes to start a new business can go for a business loan. Different banks have different criteria to validate how much and whom to give. This is based on.
- Type of the business – like Proprietorship, Partnership, Private Ltd or Public Ltd.
- Turnover of the company.
- Profit of the company.
- The cash flow of the company.
- Track record and the affairs of the company.
How much Business loan can an entrepreneur get in Ahmadabad?
It is based on the years, turnover and profit of a company. Banks decide on the loan amount it can give to companies and business houses (new and old) considering such factors. Based on the amount of profit an entrepreneur is making and the entrepreneur management to pay the EMI with the cash flow, the loan amount can be decided.
Documents required to be submitted to the bank to obtain a business loan in Ahmadabad:
- ID Proof
- Address Proof
- Proof of Continuity Of Business
- Proof of Ownership of Office or Residence
- Bank Statement 6 Months
- Board Resolution
- CA Certified Account Statement for the last two years
- Last two years ITR of Co-Applicants.
Which of the organisations or banks should be chosen to apply for a business loan?
This is the most important decision that an entrepreneur is supposed to make while applying for a business loan. Many banks provide companies with business loans in a convenient manner, but also, there are many organisations out there which provide unsecured business loans to the eligible entrepreneurs and business houses or companies.
Lendingkart is one of the organisations which can instantly provide an unsecured business loan to eligible companies.
Perks of choosing Lendingkart:
- 100% online process
- Very few documents required (bank statements and VAT or GST returns only)
- No collateral required
- Receive the loan within three days of application.
Hence, as compared to banks, Lendingkart proves to be a better option for business loans.