Faqs - L&T Finance

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What are the requirements to get a business loan?

Applicants need identity proof, business proof, financial statements, and a good credit score to qualify for a business loan.

Who can apply for a business loan?

MSMEs, startups, self-employed professionals, traders, manufacturers, and business owners meeting business loan eligibility criteria can apply.

What is the minimum CIBIL score needed for a business loan?

A CIBIL score of 650+ is recommended for higher approval chances and better interest rates.

How much time does it take to process a business loan?

Online business loans are processed within 24-72 hours, while offline loans may take up to 7 days.

How is the Processing Fee for a Business Loan Calculated?

Lenders charge a processing fee of 1-3% of the loan amount, deducted before disbursal.

What are the different types of collateral-free business loans?

Options include unsecured working capital loans, MSME loans, and government-backed small business loans.

What is the minimum and maximum amount I can borrow with a business loan?

Loan amounts range from ₹50,000 to ₹2 Crore, based on business revenue and eligibility.

What is the minimum turnover requirement for a Business Loan?

Minimum turnover varies from ₹10 lakh to ₹50 lakh, depending on the lender and loan type.

What is the tenure to repay my business loan?

Loan tenures typically range from 12 months to 5 years, with flexible EMI options.

How to apply for a Business Loan online?

Borrowers can apply for business loan online by submitting KYC, financial statements, and business proof through the lender's website.

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