Paisabazaar Logo - Compare loans and credit cards

Documents Required for Business Loan

Before applying for a business loan, it is pertinent that you are well aware of the documents required. This willhelp you keep your documents ready and up to date. Read more to get detailed information on the documents required for a business loan in India....

Grow your Business with Loans
Starting at 14.99%

Rupee IconLowest Interest Rates
4.5/5

15.5L Reviews

51M+Satisfied Customers
65+Lending Partners
800+Cities across India

Paisabazaar Exclusive Benefits

Icon image of Best Loan Offers

Best Loan Offers

Curated Offers from 20+ Lenders

Icon image of Unsecured Loan

Unsecured Loan

Collateral-free Loan Options

Icon image of Expert Advice

Expert Advice

Guidance & Assistance

Icon image of Top Up Facility

Top Up Facility

Additional Funds for Business Needs

Find Best Business Loan Offers

Sort by:

HDFC Bank
Max Loan Amt.Upto 75L
Rate of Interest10.75% - 28%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
Axis Bank
Max Loan Amt.Upto 75L
Rate of Interest15% - 19.25%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Max Loan Amt.Upto 2Cr
Rate of Interest11.75% - 26%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
Why Choose Paisabazaar?
image of Compare & Choose the <strong>Best Offer</strong>

Compare & Choose the Best Offer

image of Pre-approved Offers with <strong>Instant Disbursals</strong>

Pre-approved Offers with Instant Disbursals

image of Know Your <strong>Chances of Approval</strong>

Know Your Chances of Approval

image of End-to-End <strong>Digital Process</strong>

End-to-End Digital Process

Select Your Bank

1L1Cr
8%30%
1Y 20Y

Your Monthly EMI Payment

0

Principal Amount0
Interest Amount0
Total Amount0

How Can I Apply for a Business Loan Online?

Get up to 1 Crore in 5 Simple Steps

Step 1: Enter your mobile number in the application form.

Step 2: Enter OTP to verify your mobile number.

Step 3: Provide your personal details.

Step 4: Select a bank account for account aggregator consent.

Step 5: Compare offers and apply for the best-suited loan.

Why Are Documents Required for a Business Loan?

Documents are used by lenders to establish your:

  • Identity
  • Business authenticity
  • Repayment capacity
  • Financial health and more

Accurate and complete documentation not only validates the legitimacy of the business but also enables faster processing and smoother loan approvals. Applicants should provide lenders with proper documentation to minimize loan rejection chances.

Basic Documents Required for Business Loan

While documents required may vary from bank to bank, we have provided below a list of commonly asked documents for your reference:

  • KYC and Personal Documents: PAN card, Aadhaar, Voter ID, Passport, or Driving License along with passport-size photos and a signed application form. 
  • Business Existence Proofs: GST certificate, Udyam/MSME registration, Shop Act license, or incorporation papers (MOA/AOA for companies). 
  • Proof of Business Address: Rental agreement/utility bill/Trade licenses/partnership deeds. 
  • Financial Documents: Income Tax Returns (ITRs) for the last 2-3 years, bank statements covering 6-12 months, Profit & Loss statements, balance sheets for 2-3 years, and sales tax returns 
  • Additional Requirements: Business plans, projected cash flows, or orders in hand, CIBIL score reports (minimum 650+ often needed) and collateral documents like property valuations. Project-specific items include government approvals, proforma invoices, or architect certificates for asset purchases.

Apart from the above-mentioned documents, there exist bank-specific variations. Always verify with the bank's portal for complete details.

Documents Required for Business Loan Balance Transfer

Document Type Description
Loan agreement details Copy of the existing loan agreement, including terms, conditions, outstanding balance, and repayment schedule.
Financial statements Recent balance sheets, profit and loss statements, and cash flow statements
Tax returns Income tax returns for the last 2–3 years
Bank statements Bank statements from the last 6 months
Business registration documents Proof of business registration such as certificate of incorporation, partnership deed, or sole proprietorship registration.
KYC documents Identity proof, address proof, and PAN card of the business owner(s).
Personal guarantee (if applicable) Personal guarantee documents if the loan is backed by the personal assets of the business owner.
Collateral documents (if applicable) Details and ownership documents of collateral pledged, such as property or equipment.

Tips to Avoid Business Loan Rejection Due to Documentation

Any discrepancies in the documents provided by you can lead to loan rejection. Follow the tips mentioned below to avoid any last-minute mistakes:

  • Keep your documents updated and error-free: Make sure all your documents are up-to-date and all the details are correct and consistent across all documents. All financial documents should state correct figures without any discrepancies. Missing or outdated records weaken credibility.
  • Make sure to upload all documents in clear visible form: If you are uploading your documents online, avoid uploading blurry or cropped documents. Upload clearly visible documents in proper lighting.
  • Keep all your permits cleared and ready: Businesses require many permits to operate. Make sure you have all the permits you need ready and up to date.
  • Keep bank statements clean and explain anomalies: Avoid frequent cheque bounces or unexplained large cash deposits in the last 6 months; clarify any irregular transactions if present.
  • Disclose existing liabilities transparently: Declare ongoing loans and guarantees accurately to avoid issues during credit bureau verification.
  • Align loan amount with documented eligibility: Ensure turnover, income, and profitability documents reasonably support the loan amount applied for.

Avail Business Loan For
All Your Needs

How Can I Apply for a Business Loan Online?

Get up to 1 Crore in 5 Simple Steps

Step 1: Enter your mobile number in the application form.

Step 2: Enter OTP to verify your mobile number.

Step 3: Provide your personal details.

Step 4: Select a bank account for account aggregator consent.

Step 5: Compare offers and apply for the best-suited loan.

Avail Business Loan For
All Your Needs

FAQs

Usually, most lenders ask for GST registration and GST returns details for business loan approval.

Usually, 1 to 3 years of ITR are required by lenders for a business loan in India.

It is not impossible to get a business loan without income proof. In a situation like this, banks consider other documents to establish your income.

Usually, the same documents as mentioned above are required for MSME loans. However, additional documents may be required.

Usually, pre-approved business loan offers require minimal documentation. Check with your existing bank to see if you qualify for a pre-approved loan.

Lenders may ask for one or two additional documents from startups. However, usually the documents mentioned above are enough.

Yes, most lenders ask for compulsory Udyam registration for MSME loan.

Yes, incorrect or outdated documents affect approval chances and in some cases may lead to loan rejection.

quotes icon

What our customers say

Business loan complex hotta h

Business loan thoda complex lagta h muhje, lekin Paisabazaar pe team ne sab steps simple bana diya muhje ache se support kiya. Thank you.

icon image of avatar
Meher SinghJan 22, 2026

Business loan liya tha, interest acha mila

Muhje darr tha ki interest rate kahi lenders jda na charge krle, phir paisabazaar pe sahi interest rate milla. Mera credit profile dekh ke or bhi bht saare factors consider karke interest rate milla.

icon image of avatar
Mohit DasJan 15, 2026

Uncle ne bataya tha Paisabazaar ke baare mai

Mai online loans ke baare mai jada nhi janta, mere chacha ne bataya tha ki Paisabazaar se loan acha milta hai. Try kiya or asli mai bohot acha experience tha.

icon image of avatar
Raju RastogiJan 14, 2026

Boutique ke liye small loan liya tha

Boutique ke liye small loan liya tha. Small entrepreneurs ke liye bht important hota hai sahi jagah se loan lena. Paiabazaar ki team bohot helpful hai.

icon image of avatar
Vanni KumariJan 13, 2026

Loan approval ke chances dikhate h

Paisabazaar se business loan lo toh pata rehta h ki kaha loan approval ke chances jada hai. Isse thoda tension kam jata h rejection ka. Acha feature hai.

icon image of avatar
Sobhit GuptaJan 5, 2026

Advisors bohot ache the

Business loan thoda confusing hota h. Advisors ne sahi guide kiya. Thanks you.

icon image of avatar
Prakash MishraJan 4, 2026

Trusting platform

I take business loan from Paisabazaar two months before. very nice experience. No jhamela, only good work done. Thank you

icon image of avatar
Priya ShawDec 30, 2025

Chote business ke liye bhi loan mila

Chote businesses ko loan milne mai dikkat hoti hai lekin yaha mil gaya. Thank you for helping small business also. Good job keep it up.

icon image of avatar
Rupesh SharmaDec 29, 2025

Quick and easy steps

Business loan apply karne se pehle yeh sochke dar lagta tha ki bohot mehnat lagegi. Lekin mai toh surprise hi hogayi Paisabazaar ka simple or easy steps dekh ke. Itna smooth process tha ki bikul hi samjh nhi aaya kab loan approve hua or kab account mai paise agaye.

icon image of avatar
Ishita SinghDec 28, 2025

Good Loan Mila

I appyled for business loan for my boutique. Proper Help given in the process. Always ready to help people. Very good experience. Will tell all to take loan only from here.

icon image of avatar
Sarmistha RoyDec 26, 2025
View All Testimonials
Sumit Kumar profile
Written ByLinkedIn icon
Sumit Kumar
Shamik Ghosh profile
Reviewed ByLinkedIn icon
Shamik Ghosh

Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners

*Applicable for selected customers