1. What are the uses of a Banking Surrogate Business Loan?
While the possibilities are endless, here are some common purposes for which a Banking Surrogate Business Loan can be procured for your business:
- Meeting working capital requirements
- Procuring raw material
- Fulfilling bulk orders
- Purchasing inventory
- Paying suppliers in advance
- Paying for overhead costs like rent, office expenses etc.
2. How to apply for Banking Surrogate Business Loan?
All you need to do is, click here to easily apply for a Banking Surrogate Business Loan and upload the required documents. We will review your application, call you with our best offer based on your eligibility and disburse the sanctioned loan amount.
3. What are the eligibility criteria to apply for a Banking Surrogate Business Loan?
Here are the basic requirements for your business to be eligible for a Banking Surrogate Business Loan
- Promoter’s age should be between 23-65 years
- Business should be at least 2 years old
- Must have one owned premises in operating city. Proof of ownership not applicable if business vintage >=3 years
- Annual turnover should be between 50 lakhs to 40 crores
- Have Bank statements for the last 12 months
- Trusts, NGOs and charitable organizations are not eligible
4. What is the minimum to maximum tenure range for a Banking Surrogate Business Loan at Ashv?
You can avail a Banking Surrogate Business Loan amounting 1 Lakh - 10 Lakhs for a minimum of 12 months to a maximum of 24 months (with a 6-month interval).
5. What documents are required to apply for a Banking Surrogate Business Loan at Ashv?
The following documents are required to apply for a Banking Surrogate Business Loan –
- KYC of the business entity and the business owner/s
- Proof of Ownership for residence / office. Residence-cum-office is not accepted
- Business registration proof (AOA / MOA / Business registration certificate / GST registration certificate / Registered partnership deed / Gumasta shop establishment certificate)
- Business bank statements for the last 12 months