FAQs

Frequently Asked Questions

Eligibility for a business loan depends on several factors, including:
-Type of borrower: Self-employed individuals, proprietors, partnerships, start-ups, companies, traders, retailers, and wholesalers are generally eligible.
-Business profile: Lenders consider years in operation, business performance, credit history, revenue, and profitability.
Generally, both established and growing businesses can apply if they demonstrate stable operations and the ability to repay. New businesses may qualify with a strong business plan and proper documentation. Common requirements include proof of business (business registration, GST, Shop and Udyam registration etc.) financial documents (financial statements, tax returns, credit rating score etc.) It’s best to check the specific eligibility criteria set by the lender before applying.

Most lenders allow borrowers up to 65 years of age at the time the loan ends. The exact limit may vary based on the lender, loan type, and your business or credit profile. It’s best to check with your lender or use an eligibility calculator to confirm whether you qualify.

Eligibility for a business loan depends on several factors, including:
-Type of borrower: Self-employed individuals, proprietors, partnerships, start-ups, companies, traders, retailers, and wholesalers are generally eligible.
-Business profile: Lenders consider years in operation, business performance, credit history, revenue, and profitability.
Generally, both established and growing businesses can apply if they demonstrate stable operations and the ability to repay. New businesses may qualify with a strong business plan and proper documentation. Common requirements include proof of business (business registration, GST, Shop and Udyam registration etc.) financial documents (financial statements, tax returns, credit rating score etc.) It’s best to check the specific eligibility criteria set by the lender before applying.

The interest rate for a business loan is determined in accordance with the Company’s Interest Rate Policy, which is available on our website. It may vary based on factors such as the borrower’s credit profile, business performance, and overall risk assessment.

You can download the MIS reports of your loan applications by using the “Report Download” feature in the XLR8 Partner Dashboard. This lets you access detailed reports of all your applications in just a few clicks.

Go to the “Ask Management” page on the Partner Dashboard to check if any applications have pending queries. After collecting the required information or documents from the customer, click on “Resolve the Ask” to update the details and unblock the application for further processing.

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