What is Business Loan ?
- Business loan is used for business purposes only. No one can be enrolled for personal or other kind of loans in business loan category. In other words only registered businesses can apply for business loans and no one else.
Key Features of Business Loan from Dogma:-
- The time limit to clear out sanctioned loan amount is from 12 months to 36 months though you can clear the loan in 3 months from that date of receiving the loan.
- The rate of interest for the loan is 14 to 24 %( flat/reducible).
- The loan amount is from 50,000/- to 50, 000, 00/- INR.
- No need of mortgage to apply for business loan.
- 1% of the loan amount is given to franchisee as a commission if he/she applies for loan for any of his/her customer/client( from 2nd application only)
Requirements for business loan application:-
- Applicant should not be defaulter with any banking agency.
- The business for which loan is being applied should be registered at least 6 months from the date of application.
- Annual credit amount according to bank passbook must be at least 3, 00,000/-.
File Charges for Business Loan:-
- File charges for the loan is 500/- INR only.