Did you know it is mandatory to have a Permanent Account Number (PAN) to qualify for a business loan? And if your company is legally required to have a PAN to do business in India, you will need to submit both the proprietor’s and your business PANs with your loan application.
Lenders use your PAN, which is linked to your Aadhaar account and your bank accounts, to verify your financial history and credit bureau report.
Learn more about why a PAN is required to get a business loan.
When you submit the documents to the lender with your business loan application, remember to share a colour copy of the ID so that they can conduct their credit assessment quicker.
If you already have your PAN and other KYC and business documents ready, apply for a business loan today with CreditEnable.
Using our technology platform, our SME customers have gotten unsecured business loans in just 2-3 days and secured loans in just 7 days!
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