Can You Use Startup Business Loans?


A Startup Business Loans is where you invest your personal loan in financing your business venture

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What is a Startup Business Loans?


It’s not known to all that you can actually use a Startup Business Loans purposes. Personal loans are primarily helpful for new businesses without established business histories, and often have lesser interest rates than many business loans making them a great option for young companies looking for financing.

How to apply for Startup Business Loans?

Advantages of Startup Business Loans

☞ Can be affordable than Business Loans.

☞ Great for customers with short business history.

☞ Repaid monthly rather than weekly or daily.

☞ Limited to up to ₹ 35 lakhs.

Minimum Requirements of Startup Business Loans

ANNUAL REVENUE

0

Credit Score

Time in Business

Any

Documents required for Startup Business Loans

ADDRESS PROOF

BANK ACCOUNT NUMBER

CREDIT SCORE

Employment History

PERSONAL TAX RETURNS

LAST 3 YEAR ITR

AADHAR CARD

PAN CARD

Frequently asked questions

1.How to Get a Startup Business Loans?

☞ Personal loans for business rely a whole lot upon your personal credit score your business’s financial track record doesn’t matter. After all, your lenders are making a loan to you, the business owner, and it’s your liability to repay that loan. What does this mean to you? Whether you’re using those funds for your business or something else doesn’t affect that model.

2.What Will a Startup Business Loans Cost You?

☞ One considerable thing about personal loans? Their payment structure is painless to understand. No hidden charges, no complicated documents—just you, a lump sum of cash, and a fixed monthly payment.

3. How does Startup Business Loans works?

☞ For plenty of entrepreneurs, reaching that first stage of financing can seem like a fruitless climb. How can you kick your business without having enough funds? But LegalRaasta’s marketplace offers a solution for business owners who don’t have long business history or finances yet: Using personal loans for business. It’s crucial to understand the distinction between personal loans “for business” and traditional business loans, and to be aware of what personal loans for business require.

4. When Do You Require Personal Loan?

☞ For small or new businesses that don’t have vital fiscal history yet, personal loans might just be a perfect fit. However… Personal loans for business is the only option if you’ve got a strong credit score that’s the most important part for loan application.

5. Who can qualify for Startup Business Loans?

☞ If you’ve got a great personal credit score, personal loans for small-business could be a magnificent way to finance your new venture. You’ll need to have minimum credit score of 580 to consider it a viable option. And again, nothing about your business will get considered in your application.

6. How much Startup Business Loan cost?

☞ One great thing about personal loans? Their payment structure is easy to understand. No hidden fees, no complicated documents — just you, a lump sum of cash, and a fixed monthly payment.
See if you qualify?

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