Eligibility Criteria for a Business Loan in Gujarat - Ruloans

Gujarat, the westernmost state of India, has always been at the forefront of ease of doing business. It is one of the leading industrial nations in the country. Furthermore, several government initiatives have accelerated the growth of small businesses in the state. While running a small business, the main issue an entrepreneur faces is the business’s financial needs.

Gujarat was one of the main central areas of the Indus Valley civilization with ancient history enriched by commercial activities. Popular for cement and petrol industries, the state also produces cotton, groundnuts, dates, sugar cane, milk, and milk products, and ranks number one in the pharmaceutical industry in India.

Should you be feeling the pressure due to market volatility, or the need for expansion of your enterprise, a Business Loan designed solely for your purpose can be availed at affordable interest rates

Ruloans comes to the rescue of all those budding entrepreneurs in financial needs with trouble-free quick business loan in Gujarat. The Ruloans aims to provide much needed financial assistance to the aspiring entrepreneurs of Gujarat.

Eligibility Criteria for a Business Loan in Gujarat:

The term Loan Eligibility in broad terms refers to qualifications to avail a business loan from a Bank or a NBFC. Lenders use Eligibility Criteria as a standard to resolve the amount of funds to be lent on the basis of your financial credentials such as your business income, financial commitments, etc., subject to your business vintage, which decides your business loan tenure. . Eligibility criteria for Business Loan in Gujarat are listed below.

• Age - Your age should be minimum of 21 years, and maximum of 68 years at Loan Maturity
• Nationality - You should be a Resident Citizen of India without having defaulted on any previous loans, and without any Criminal Record
• Credit Score - Your credit score should be 650 or higher
• Eligible Entities - Individuals, SMEs, MSMEs, Sole Proprietorship, Partnership Firms, Public and Private Limited Companies, Limited Liability Partnerships, Retailers, Traders, Manufacturers engaged in Services, Trading, and Manufacturing Sectors
• Business Vintage - The age of your business should be minimum 1 year in profitable operations
• Annual Turnover - The annual turnover of minimum Rs.12 lakhs and above for existing enterprises
• Additional Criteria - You must own a residence, an office, a shop, or warehouse