Ever thought about getting a business loan, but you don’t apply because lenders say they’ll need your GST documents also?
That is correct, but only if your business is legally required to have a GST registration!
You can still get a business loan even if you aren’t a GST registered business if your business doesn’t fall under the category of businesses that need to be registered under GST to do business in India.
If you’re not a GST registered business (and don’t need to be), a lender will need the following documents to process your business loan application:
- Individual KYC documents (Aadhaar and PAN)
- Business KYC documents
- Bank statements of your business bank account for the last 12 months
Additional documents may be required based on the type of business you run, your financials, and loan amount.
Find out which businesses need to have a GST registration here.
CreditEnable helps our SME customers, those who are GST registered and those who aren’t, find the right business funding for their needs. We can help you too!
Start your loan application today.
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