BUSINESS LOANS
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BUSINESS LOAN
Financial Flow is the life blood of any successful organisation. Most businesses will need a large amount of working capital to start up a new business or enable the rapid growth of an existing business. Scaling up always requires a influx of finances. Which is why, we go to all lengths to ensure that we can disburse a loan that can help you take your business to the next level. Business loans are very special to Andromeda and we have been helping our customers scale to new heights of success by helping them finance their dreams for their enterprises. While a personal is given on a personal capacity and income, a business loan is given based on company’s income and capacity and is given in the company’s name.
Eligibility Criteria :
Most banks will disburse business loans to individuals aged between 24 to 65 years.
Banks will prefer that your business has been showing stable signs of growth at least for the last 3 years. If you can show sustained billing and revenues and top it off with profit, getting a business loan should not be a problem for you. Some banks give a loan amount up to 60 to 80% of your median annual profits.
A bank will prefer if you have been engaged in sustainable business for atleast 5 years to consider giving you a loan. Your diversity in terms of business experience and so on along with good results will help you acquire your business loan.