Documents Required for SME Loan

Document Required For SME Loan

Applying for an SME Loan requires specific documentation to establish your business’s credibility and financial stability. We assess these documents to ensure SME loan eligibility and repayment capacity. A clear understanding of the required paperwork makes the application process seamless and increases the chances of approval. Accurate and valid SME Loan documents also help speed up your loan approval.

Documents for Applying for SME Loans

Here are the list of Documents required for SME Loan

1. KYC Documents

Entity - PAN Details, Entity Registration Docs - depending on Entity Type (Shop Act / GST Returns / MOA / AOA / Certificate of Incorporation / Partnership Deed / LLP Agreement)

Individual (Proprietor / Partner / Director) - PAN Details, OVD Document (Aadhar Card / Voter ID / Driving License / Passport / Utility Bill + Rent Agreement)

2. Income Documents

Latest 2 years – Audited Financial Statements, Income Tax Returns, Tax Audit Reports, 6 months GST Returns

3. Bank Account Statement

Operative Bank Account Statement for Latest 6 months

4. Others Documents

Ownership Documents ((Any 1) - Utility Bill / Sales Deed / Index II / Property Tax Receipt), Board Resolution, List of Shareholders, List of Directors

FAQs & Support

View all

How much loan can an MSME/Business get?

business's and MSMEs can get a loan of up to ₹ 75 Lakh with L&T Finance.

Is there a minimum business age requirement for the documents submitted for an business Loan?

Generally, businesses must be operational for atleast 3 years, but requirements may differ based on the lender.

What is the maximum loan that an business loan can get?

L&T Finance offers loan amounts starting from ₹ 7 Lakh to ₹ 75 Lakh*, depending on your business profile.

Can I apply for an business loan without audited financial statements?

Audited financials strengthen your application, but you can apply for an business loan without audited financial statements.

Is the EMI calculator the same for all types of business loans?

Yes, the formula remains the same but the inputs like interest rates and tenures may vary by loan type.

Are taxes applicable to the Business Loan’s charges?

Yes, applicable taxes like GST may be added to processing fees and other charges.

Are tax returns required for all types of business Loans?

Yes, most lenders require ITRs to assess financial stability. However, specific requirements may vary by lender.

Are there any penalties for early repayment of business loan?

L&T Finance levies a prepayment charge of 2% plus applicable if you make a prepayment.

Can I apply for an business Loan without providing a business plan?

A business plan may not be mandatory for all business Loans, but it is strongly recommended. It helps lenders understand your loan utilisation and repayment capacity.