Lenders usually require their individual loan applicants to be at least 21 years old at the time of loan application and 65 years old at the time of loan maturity, with his/her minimum business vintage of 3 years.
Apart from these, lenders also set certain specific eligibility conditions related to the credit score/credit rating of the business, minimum margin contribution, collaterals (if required), annual turnover, approvals/registration/licenses/certification, nature of business, IT/GST returns, etc.