What are the documents required for a Business Growth Loan?

Are you looking to apply for a Business Loan to expand your business? Whether you need funds for cash flow management, upgrading equipment, or general growth, a Business Growth Loan can help your business thrive. At HDFC Bank, we offer both secured and unsecured Business Growth Loans tailored to your financial needs, with flexible tenures, competitive interest rates, and various features to suit your requirements.

To get started, you will need to provide specific documents. This article provides a comprehensive list of the documentation required for a Business Loan.

When applying for a Business Loan, you will generally need to provide the following documents:

1. Application Form: A duly filled and signed application form with accurate details

2. Passport Size Photo: A recent photo to be attached to the application form

3. Identity Proof: Choose from the following:

• PAN Card
• Passport
• Voter ID Card
• Driving License
   

4. Proof of Residence: Provide one of the following:

• Utility bill (electricity or telephone)
• Lease agreement
• Passport copy
• Aadhar card
• Trade license
• Sales tax certificate
   

5. Proof of Age: Any of the following documents:

• PAN Card
• Passport
• Voter ID Card
   

6. Financial Documents: Submit the following:

• Income Tax Returns (last 2 years)
• Current Bank Statements (last 6 months)
• Audited Balance Sheet and Profit & Loss Account (last 2 years)

Depending on your business structure, additional documents may be required:

Self-Employed – Private Limited Companies & Partnership Firms

For the Company:

• Sales Tax Registration
• VAT Filing
• Service Tax Registration
• Excise Registration (if applicable)
• Income Tax Returns (company)
• Utility Bills (water, electricity, or telephone)
• Registration Certificate under the Shops and Establishment Act
• Municipal Tax Bill (original and copy)
• Memorandum of Association (MOA)
• Articles of Association (AOA)
• Certified Copy of Partnership Deed
• List of Partners/Directors

For Authorised Signatories and Directors:

• PAN Card
• Voter ID Card
• Passport
• Driving License

Self-Employed Individuals – Sole Proprietorship

For the Sole Proprietorship Firm:

• PAN Card
• Income Tax Return
• Bank Statement
• Utility Bill

For the Sole Proprietor:

• Passport
• Driving License
• Voter ID Card
• PAN Card

Address Proof:

• Utility Bill
• Passport Copy
• Voter ID Card
• Driving License

Self-Employed Individuals – Non-Professionals

Documents Required:

• Individual Identity Proof
• Address Proof
• Income Tax Returns (last 3 years)
• Sales Tax Returns (last 3 years)
• Bank Statements (last 6 months, authorised by banker or branch manager)
• Detailed Profit & Loss and Balance Sheet statements (last 3 years)

Before applying for a Business Growth Loan, review the required documents thoroughly and ensure you have the necessary paperwork for your specific business category. With this guide, you're well-equipped to proceed with your application.

Apply for a Business Growth Loan with HDFC Bank today to take your business to the next level.

Read more on how to get a Business Loan here.

*Terms and conditions apply. Business Loan approval is at the sole discretion of HDFC Bank Limited. Loan disbursal is subject to documentation and verification per the bank's requirements.