Faqs - L&T Finance

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What is business loan eligibility?

It is the conditions you must meet to qualify for a business loan from a bank or NBFC.

How do lenders calculate business loan eligibility?

To estimate repayment capacity, they assess credit score, business age, turnover, liabilities, and income.

Does credit score affect business loan eligibility?

Yes, a score of 700 or above is ideal. It signals responsible credit behaviour and improves approval chances.

What documents are required to check business loan eligibility?

PAN, Aadhaar, GST registration, ITRs, bank statements, and business proof like licences or certificates.

Can I get a business loan with a low credit score?

It’s possible, but you may have to offer collateral or apply jointly with someone with a better credit profile.

What is the minimum and maximum age requirement for a business loan?

At the end of the loan term, you must be at least 21 and not more than 65.

Will having a co-applicant improve my business loan eligibility?

Yes, especially if they have a good income and a clean credit report.

What is the minimum credit score required for a business loan?

Most lenders expect at least 700, but some may accept 650+ with strong financials and documents.

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