Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Documents Required for Business Loan

To receive an approval for your business loan, you will need to submit the following documents:

Identity Proof

For a company, firm or individual - a valid identity proof and PAN Card

Address Proof

Voter ID Card, Ration card, Passport, or Driving License

Bank Statements

Latest Bank Statements for last 6 month

Income Documents

This should include the latest 2 years ITR along with the computation of income, balance sheet, profit and loss account for the past two years. This has to be submitted after the requisite CA certification

Proof of Continuation

ITR/Trade license/Establishment/Sales Tax Certificate

Other Documents

Sole Proprietorship Declaration or Certified Copy of the Partnership Deed, certified true copy of the Memorandum & Articles of Association (certified by the company Director) and the Board resolution

The above is just a basic list. The actual list of business loan documents will depend on your profile, requirement and SMFG India Credit’s policy at the time of application.

To know more, get in touch with us today via our toll free number 1800 103 6001 (between 9:00 AM - 7:00 PM on all days except Sundays, 4th Saturday of the month and public holidays) or email us at  

Page also available inहिन्दी - Hindi

Business Loan EMI Calculator

Check out EMI calculator & get a quick estimate

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Is the Collateral Required for a Business Loan?

At SMFG India Credit, for business loans amounting up to Rs 75 Lakhs*, you don’t need to pledge your personal or business assets. These loans are unsecured in nature and are similar to personal loans.

However, for a business loan of amount Rs 75 Lakhs* and above, you need to provide collateral for successful processing of the business loan application.

What is the Credit Score Required for a Business Loan?

Credit score plays a crucial role in determining the eligibility criteria. You need to have a CIBIL score of over 700 to meet the business loan eligibility criteria.

A CIBIL score of below 700 points can impact your business loan eligibility or the lender may ask for the additional personal guarantee to successfully process the business loan application.

How much ITR required for a Business Loan?

For successfully applying for a business loan, you need a Minimum Annual Income greater than INR 2 lakhs for the past 2 years.

And in the income documents, you need to furnish the latest 2 years ITR along with the audited income statement, balance sheet, profit and loss statement for the past two years.

Can an LLC get a Small Business Loan?

Yes, both LLC, limited liability company and LLP, limited liability partnership is eligible to apply for a small business loan.

Entities such as private limited companies, limited liability partnership firms, partnership and closely held limited companies are eligible to apply for a business loan. Apart from that self-employed professionals and self-employed non-professionals can too apply for the business loan.

What Business Loan Documents do you need for a New Business?

You need to provide the following documents to be eligible for a business loan:

  1. Identity Proof ( for both company and individual)
  2. Address Proof (Voter ID, Passport or Driving License)
  3. Last six months bank statement
  4. Last two years of income documents
  5. Proof of continuation (ITR, Trade License, Sales Tax Certificate)
  6. Other documents (copy of sole proprietorship declaration, partnership deed, MOA & AOA, Board resolution)

How can I improve my chances of getting a business loan?

To enhance your chances of securing a business loan, consider the following steps: Select the appropriate loan type that aligns with your business needs, maintain healthy cash flows and financial records, meet the eligibility criteria set by the lender, have a good personal and business credit score, develop a well-structured growth plan, and use a business loan EMI calculator to estimate and plan for monthly EMIs effectively.

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* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.

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Get in Touch

Have a query? You can contact us through any of the channels listed below.

Toll Free Number
1800 103 6001 Timings: 9:00 AM to 7:00 PM (Monday to Saturday excluding public holidays & fourth Saturday of every month).