Business Loan Eligibility Calculator

Check the loan amount you are eligible to avail. Just enter your monthly income and your existing debt or EMI.

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Final Loan Amount Eligible

Do you want a business loan but not sure if you are eligible?

Our Business Loan Eligibility Calculator is here to simplify the process for you. It's never been this easy to determine if you qualify for a business loan. You can understand your business loan eligibility just by entering your monthly income and existing EMIs.

Read further to gain more clarity and take the next step towards to achieve your business goals!

Business Loan Eligibility Criteria

Knowing the eligibility criteria for business loan will help you to be more proactive in planning your financial goals, ensuring increased approval chances. Refer to the table below to understand the basic eligibility criteria for business loan.

Particulars Eligibility Criteria
Nationality Indian
Age 21 years to 65 years
Employment Self-Employed with at least 3 years of business continuity
Credit Score Minimum 750 and above

How to Use the Business Loan Eligibility Calculator

Buddy Loan not only simplifies your business loan application process but also offers a hassle-free Business Loan Eligibility Calculator for assessing your loan eligibility. Here's a step-by-step guide to how to use a business eligibility calculator provided by Buddy Loan:

Step 1: Access the Business Loan Eligibility Calculator page.

Step 2: Provide details on your monthly income information.

Step 3: Step 3: Enter any existing EMIs or current financial commitments.

Step 4: The calculator will display your estimated eligible loan amount.

Follow these steps to use the business loan eligibility calculators to make the business loan journey with Buddy Loan prompt and seamless.

How is Business Loan Eligibility Calculated?

The calculation of business loan eligibility involves criteria such as the CIBIL score, tax payment history, bank balance, and credit utilization ratio. Hence, in order to improve your eligibility for a larger loan amount, consider:

Timely payment of taxes and EMIs: Consistent and punctual payments positively impact eligibility, potentially qualifying you for a higher loan amount.

Maintain a favorable CIBIL score: Your credit score significantly influences eligibility. A CIBIL score below 700 may affect your chances of securing a business loan*.

Not sure of your credit score? Check it now!

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Banks & other lenders calculate loan eligibility based on their financial calculations and models. One can alos check how much personal loan they can get based on their salary to help you have better financial planning.

Features & Benefits of Business Loan Eligibility Calculator

Apart from providing you an instant understanding of your loan eligibility, there are other major features & benefits of business loan eligibility calculator

User-Friendly Interface: Easy-to-use tool as you can arrive at the results by just inputting basic financial details.

Time-saving: It helps you avoid lengthy paperwork to save your time by swiftly checking your eligibility status.

Accuracy: A calculator accurately predicts loan eligibility based on algorithms and current lending criteria.

Clarity: Helps in gaining easy and quick insights into the potential loan amount and terms you might qualify for.

Strategic Planning: Assist you in planning business strategies effectively by understanding your borrowing capacity.

Accessibility: Accessible 24/7, providing convenience for loan assessment at your convenience.

Tips to Improve Business Loans Eligibility

Here are some tips and strategies can significantly improve your eligibility for a business loan to increase the chances of approval, & securing more favorable terms to support your business endeavors:

Maintain Good Credit History: Regularly check and improve your credit score by paying bills on time and reducing outstanding debts.

Stable Income Proof: Showcase a stable income flow by maintaining accurate financial records and showing consistent earnings.

Reduce Existing Debts: Lower existing debts and manage outstanding payments to improve your debt-to-income ratio.

Business Plan Enhancement: Present a robust and comprehensive business plan highlighting growth potential, market analysis, and clear financial projections.

Collateral and guarantees: Offer collateral or personal guarantees to strengthen loan applications, providing security to lenders.

Regularly Review Financial Health: Keep track of financial health, review reports, and resolve any discrepancies to present a stronger loan application.

Are you in need of a personal loan?

Frequently Asked Questions

Eligibility varies but typically includes individuals or entities with a stable income, excellent credit history, operational business, and the ability to repay the loan.

It's based on factors like credit score, business revenue, debt-to-income ratio, collateral, and loan purpose.

With Buddy loan you can avail business loan starting from ₹50,000 - ₹1,00,00,000/.

Factors such as income, credit score, business turnovers, and other metrics contribute to eligibility assessment.

Yes, sole proprietors can apply for business loans using their personal credit and business financials.

Options include finding lenders specializing in bad credit loans, offering collateral, having a co-applicant, and improving credit before applying.

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