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Document Required For SME Loan

Applying for an SME Loan requires specific documentation to establish your business’s credibility and financial stability. We assess these documents to ensure eligibility and repayment capacity. A clear understanding of the required paperwork makes the application process seamless and increases the chances of approval. Accurate and valid SME Loan documents also help speed up your loan approval.

Documents for Applying for SME Loans

Here are the list of Documents required for SME Loan

1. KYC Documents

Firm / Company: PAN Card | Address Proof | GST Registration Certificate (if applicable) and other applicable registrations

Proprietor / Partner / Director: PAN Card | Aadhaar Card | Electricity Bill | Rent Agreement | Index II

2. Income Documents

Income Tax Returns along with computation for latest 2 years (wherever applicable)

Profit / Loss statement and Balance Sheet for the latest 2 years (wherever applicable)

GST Returns (wherever applicable)

3. Bank Account Statement

Operative Bank Account Statement for Latest 12 months

FAQs & Support

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Does an MSME need to be registered to be eligible for an MSME Loan?

Yes, registration is required to qualify for MSME-specific loan benefits.

How much loan can an MSME/SME get?

SMEs and MSMEs can get a loan of up to ₹ 75 Lakh with L&T Finance.

Is there a minimum business age requirement for the documents submitted for an SME Loan?

Generally, businesses must be operational for atleast 3 years, but requirements may differ based on the lender.

Do I have to pay a fee to apply for a loan for my business?

No, there is no application fee but other charges apply.

Why does my monthly EMI vary depending on the loan tenure?

Longer tenures reduce monthly EMIs but increase the total interest payable over the loan period.

What is the maximum loan that an SME can get?

L&T Finance offers loan amounts starting from ₹ 7 Lakh to ₹ 75 Lakh*, depending on your business profile.

Can I apply for an SME Loan without audited financial statements?

Audited financials strengthen your application, but you can apply for an SME Loan without audited financial statements.

Is the EMI calculator the same for all types of SME loans?

Yes, the formula remains the same but the inputs like interest rates and tenures may vary by loan type.

Are taxes applicable to the SME Loan’s charges?

Yes, applicable taxes like GST may be added to processing fees and other charges.

Are tax returns required for all types of SME Loans?

Yes, most lenders require ITRs to assess financial stability. However, specific requirements may vary by lender.