Fullerton India Business Loan
Fullerton India has become one of the top ranking companies in India, with the confidence and trust of the businessmen and entrepreneurs in their financing system. The firm extends business loans to the small and micro ventures to help them with development and diversification of business. The amateur entrepreneurs can also very simply avail the Fullerton India Business Loan because it is free of collateral. Hence the terms and conditions are also uncomplicated.
Loanbaba.com provides all the information about Fullerton India Business Loan.
Advance Payment and Repayment of Fullerton India Business Loan:
Prepayment charges are four / three percent a year. Advance payment, six months after its availing. Credit may be repaid for tenures ranging from one year to four years.
Proof of business term – Partnership deed / Agreement Memorandum (MOA)/ Certificate of Sales Tax/ Establishment / trade license.
Resolution of board / Deed of Partnership.
Current statement of IT returns with last two year’s Profit and Loss Accounts, Balance Sheet and computation of Income.
Statements from the bank – past six months pass book or statement.
Proof of address- Driving License/ Bank statement /passbook/ Passport / Agreement of rent/ Electricity bill/ telephone bill/ ration card.
Identification Proof – PAN card/Driving License/ Voter card/ Passport.
Fullerton India offers the borrowers business loans of maximum of rupees fifty lakh. It also depends on the income range of the borrower and the stability of the venture. In the Trading, Service and manufacturing industry, this type of business loan is offered to entrepreneurs by the company free of collateral.
The borrower age must be less than 65 years until the business loan maturity
If the borrower applying for a loan is not a professional businessman, the lowest age limit is set by the company at 25 years.
The entrepreneurs are required to meet the minimum 27 years age requirement so that he or she can be eligible to apply for this loan scheme.
IT certificates to be provided for past 2 years should present a taxable income which is not less than two lakh rupees only.
Business must function for 3 years with positive turnouts and profits should be earned in the past two years.
Annual turnover Rs. 10 lakh and Rs. 100 crore