A Buildup Loan is designed to help entrepreneurs, small business owners, and self-employed individuals finance their business expansion, infrastructure development, or working capital needs. Whether you want to renovate your shop, purchase equipment, or increase your inventory, a buildup loan provides the necessary financial support to grow your business efficiently.
Eligibility Criteria
- Age: Usually between 18-65 years.
- Income: A stable income source is required.
- Credit Score: A good credit score (typically 650+) is preferred.
- Employment Type: Salaried or self-employed individuals can apply.
- Property Location: Some lenders finance only within municipal or approved limits.
Documents Required for a Buildup Loan
1. Identity Proof
- Aadhaar Card
- PAN Card
- Passport
- Voter ID
- Driving License
2. Address Proof
- Utility Bills (Electricity, Water, Gas)
- Rental Agreement
- Passport
- Aadhaar Card
3. Income Proof
For Salaried Applicants:
- Latest Salary Slips (Last 3-6 months)
- Form 16
- Bank Statements (Last 6 months)
For Self-Employed Applicants:
- Income Tax Returns (Last 2-3 years)
- Business Registration Certificate
- Profit & Loss Statements
- Bank Statements (Last 6-12 months)
4. Property Documents
- Sale Agreement
- Title Deed (Ownership Proof)
- Land Tax Receipt
- Encumbrance Certificate
- Approved Layout or Land Use Certificate