Business Loan Eligibility Calculator

No, the calculator is absolutely free to use. You can access it online anytime to check your business loan eligibility without any charges or obligations.

This calculator is designed specifically for business loans. For other loan types, such as personal loans, separate eligibility calculators are available.

The calculator provides instant results. Once you enter your details, you’ll see your estimated loan eligibility amount immediately, making financial planning faster and more convenient.

No, the calculator provides only an estimate. Actual approval depends on multiple factors such as credit score, income documents, business performance, and lender policies at the time of loan application.

It evaluates your net profit, current EMIs, preferred loan tenure, and the expected interest rate to estimate the maximum loan amount you may be eligible for.

No, using the calculator has no impact on your credit score. It’s a soft assessment tool that does not involve any credit bureau checks or formal application processes.

To know whether you qualify for a business loan or not, you can use the business loan eligibility calculator. It determines your eligibility for a business loan based on your city, age, business’s net profit after tax, monthly EMI, rate of interest, and loan tenure. The calculator will show you the maximum amount you may be able to get for a business loan.

However, your final eligibility will also take into account other factors such as your credit score, business continuity plan, years of experience in the business, profitability of the business, steadiness of revenue, etc, as well as SMFG India Credit's policy at the time of loan application. It is advised to check the business loan eligibility criteria before applying.

Based on the fulfilment of eligibility criteria of the unsecured business loan, you can get a loan of up to INR 1 crore* to meet a wide array of business expenses. Using an online business loan eligibility calculator, you can get an instant estimate of the loan amount that can be borrowed.

The minimum annual turnover of your business should be INR 10 lakhs, and the minimum annual income (ITR) should be INR 2 lakhs to secure a business loan. Also, the business should have been making profits for the past two years.

Furthermore, the applicant should have a good credit score, and the borrower should have a credit score of at least 705. He/she must be an Indian resident, have an overall business experience of at least 5 years (with at least 3 years in the current business), and must be between 21-65 years of age.

Please note that final eligibility will take into account several other parameters, including SMFG India Credit's policy at the time of loan application.

Yes, a sole proprietor is eligible to get a business loan if he/she fulfil the following two eligibility criteria apart from meeting financial criteria.

1. Should be at least 21 years of age and less than 65 years at the time of maturity of the loan.
2. Should be engaged in the current business for at least three years and have a total of five years of business experience.
3. Should match the criteria in terms of minimum turnover, profits earned, CIBIL score, etc.

It is difficult to get an unsecured business loan with a bad credit score, and lenders also refrain from entertaining such business loan applications.

Instead, you should try to improve your credit score by paying off debts and settling with your old lenders. Once your credit score improves, you can apply for a loan and try to get it at the best possible terms.

To be eligible for a business loan, applicants typically need to meet specific criteria, such as being between 21 to 65 years old, having a business that has been operational for at least 3 years, and submitting previous years' income tax returns duly audited by a CA. Additionally, the business should have a profitable track record for the past 2 years and a minimum annual turnover of INR 10 lakhs to demonstrate its financial stability.

A credit score of 725 and above is generally required for a business loan. Lenders consider credit scores as a crucial factor in assessing the creditworthiness of borrowers. A higher credit score signifies responsible credit behaviour and increases the likelihood of loan approval with more favourable terms and interest rates.

Lenders evaluate your income to assess your repayment capacity and financial stability. A steady and sufficient income stream from the business indicates that you can meet the loan obligations. A higher income may also qualify you for a larger loan amount, subject to meeting other eligibility criteria and creditworthiness factors.