Personal Loan and Business Loan Difference and Application is Minor but it’s Big…
We Talk About Personal Loan:
A personal loan generally for Salaried Employee Used Word is borrowed to fulfill personal purposes such as medical emergencies, travel, wedding expenditure or even debt consolidation.
As an MD Financial Services advisor, you can offer a personal loan to anyone who is looking for financial help to look after personal expenses.
Required Basic Document for Application of Loan :
KYC
- Aadhar card
- PAN card
- 1 passport size photograph
Current Residence Proof Any one of the following:
Aadhar card
Driving license
Passport
Electricity bill
Credit card bill
Rent agreement along with electricity bill
Income Proof
Last 3 month’s salary slips
Last 6 month’s bank statement (salary account)
Appointment letter from current employer
Existing Loans (if any)
Sanction letter
Now We Discuss as Business Loan One type of Personal Loan [Without Document ]
Business Loan
A business loan is a type of unsecured loan that is used to meet financial obligations related to the operations of a business.
An MD Financial Advisor [Financial Galaxy] advisor offers business loans to self-employed individuals and professionals who want to fulfill any goal related to their business.
KYC
- Aadhar card
- PAN card
- 1 passport size photograph
Income Proof
- Bank account statement last 1 Year [Downloaded PDF Format]
- ITR for last 2 years
- Profit & loss Account statement for last 2 years
- Balance sheet for last 2 years
Current Address Proof Any of the following:
- Aadhar card
- Driving license
- Passport
- Postpaid phone bill
- Credit card bill
- Rental agreement
Office Address Proof Any of the following: - Lease agreement
- Registration proof
- Bank Statement
- Electricity bill
- Telephone bill
Company Registration Proof Any of the following:
- GST certificate
- Shop and establishment act
- Food license
- Drug license
- CST, RST, VAT and service tax registration
Existing Loan if live:
Sanction letter
Loan repayment schedule
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