Bank Loan Application Checklist
Courtesy to exemplary advancements in the Indian Fintech ecosystem. Lending is much easier than ever before. Growing and expanding up business in India is now no more a hassle prone task. Business loans are the financial products intended to fulfill the funding needs of a business. These can be used for meeting working capital requirements, inventory and equipment purchase, and for other business-specific growth purposes. According to the Income Tax Act, 1961, receiving capital through loaning isn’t the same as earning revenue for the business. Thus, the interest levied on a business loan is considered to be tax-deductible as a business expense.