4. Qualified Professional

If you are a qualified professional, you have a better chance of getting the loan easily. Banks and financial institutions may consider the kind of clients you deal with to ascertain your steady income.

Your credit history and income tax records will be playing an important role, therefore make sure that you have a good credit record in the market. You can also check with the bank if you need to submit the registration certificate for deduction of profession tax and the certificate of practice.

5. If You Own a Proprietary Concern

Make sure that you have your registration certificate under Shop and Establishment Act and Factories Act. Same is applicable for the income statement and tax returns statement. The other documents that the bank might ask for the profit & loss and balance sheet statements, a list of your important and reputed clients, a concrete picture of your net worth will also count.

6. If You into Partnership

In case you are part of a partnership, do not forget to have updated documents that justify your deed of partnership. In such cases banks will also be asking for the indentify proof of your concerned partners. Again all the above mentioned documents like income statement and tax returns statement will be required.

Also Read:

What Your Bank Is Hiding From You

5 Unusual Ways You Can Borrow Money for Your Business