Following are the eligibility criteria for DHFL Business loan: Doctors and self-employed person who have entities like proprietorship, partnership, limited companies, private limited companies, limited liability partnership can apply for a business loan from DHFL.
1. Loan against residential property:
- The objective of this loan is aid to the financial need of the individual, which he can use to for new business venture, expansion of the current business or for personal use.
- Term of loan against residential property can be up to 15 years.
- Eligibility for the loan all individual whether salaried or business holder including partnership, proprietorship, limited liability partnership, limited companies, private limited companies can apply for this loan.
2. Eligibility Criteria for a loan against property:
If you are looking to apply for a business loan , you need to meet the eligibility criteria of the financial institution-
- The loan applicant should be salaried or self-employed.
- The loan applicant should be above the age of 22 to apply for a business loan.
- Loan applicant holders including Partnerships, proprietorships, limited liability partnerships, private limited and limited companies can apply for business loan from DHFL
- Loan against property requires collateral in the form of residential plot and residential property.
3. Loan against commercial property:
- The loan amount can be used to finance both business use as well as personal use.
- Term of loan against commercial property is up to 15 years.
- Eligibility for loan against commercial property includes all individuals whether salaried or business holder including partnership, proprietorship, limited liability partnership, limited companies and private limited companies can apply for this loan.
- Collateral for loan against commercial property includes immovable property like commercial plot, commercial property.
4. Commercial property Purchase Loan:
- The objective of this loan is to provide finance to business houses to purchase properties like office space and other establishments to run business.
- Term of Commercial property purchase loan is up to 15 years.
- Eligibility for commercial property purchase loan: Both salaried and self-employed individuals can apply for this loan.
- The immovable property that is being purchased is to be considered as the collateral for the loan amount.
5. Lease rental discounting:
- This loan scheme can be used for business development, expansion and personal requirements.
- Loan term for lease rental discounting is up to 12 years.
- Eligibility for lease rental discounting include both salaried and self-employed individuals with partnership, proprietorship, limited liability partnership, limited companies, private limited companies can apply for this type of loan.
- All immovable properties can be kept as collateral for this loan from which rent is received.
6. Plant and machinery loan:
- The objective of this loan is to provide finance to purchase new machinery and plants or for refurbishing of the already existing plant and machinery for business expansion.
- Loan term for Plant and machinery loan is up to 6 years.
- Eligibility for Plant and machinery loan includes self-employed individuals including proprietorship, private limited companies, limited companies, partnership.
- Collateral for this loan includes the machinery for which the loan is being taken. No extra collateral is required for loan up to Rs.2 crore.
7. Property Term Loan:
- The objective of this loan is to finance the business/ firms to meet the cost of expansion or working capital depending on the requirement of the firm.
- Loan term for Property term loan is up to 15 years.
- Eligibility for property term loan includes self-employed individuals with proprietorship, private limited companies, limited companies, partnership.
- The collateral consists of immovable properties such as commercial property, institutional property, and mix of commercial and residential property, industrial property and plot.
8. Medical Equipment Loan:
- The objective of this loan is to finance medical facilities in their business expansions.
- Loan term for medical equipment loan is up to 6 years.
- Eligibility for Medical Equipment loan include doctors, nursing home, hospital, clinics and entities that are eligible for this loan include proprietorship firm, partnership firm, private ltd companies, limited companies, partnership with limited liabilities and societies
- Collateral includes the medical equipment for which the loan is being taken. No extra collateral is required for loan up to Rs.2 crore.
Also Read: How to apply for a PMMY loan to start my business
