What are the documents required for a Working Capital Loan
Are you looking to apply for a Working Capital Loan for your day to day business needs? There are a multitude of options available with competitive interest rates and flexible tenures. However, before you proceed with a Working Capital Loan application process, it is imperative to know the exact documents required for Working Capital Loan from Bank. At HDFC Bank, we strive to offer you a seamless and effortless banking experience. We have curated a generic guide for the requisite documents when you apply for a Working Capital Loan.
Working Capital Loan Documents:
Depending on the lender’s statutory requirements, you may need to furnish either one or all of the below documents under the respective segments.
Application Form: duly filled and signed application form with all the requisite and correct details.
Passport size photos of all borrower(s): to be attached to the application form
Valid Identity Proof of Borrower :
- Pan Card
- Aadhar Card
- Voters Id Card
- Driving License
- Identity Proof of the Business:
It would vary on the type of business: sole proprietorship, partnership, private limited company or public company.
- Copy of Sales Tax
- Copy of VAT filing
- Copy of Service Tax
- Copy of Excise Registration, applicable in some instances
- Income Tax Return of the company
- Utility Bills of water, electricity or telephone
- Registration Certificate under Shops and Establishment Act
- Pan ID
- Municipal Tax Bill in original and copy in the name of the company
- Memorandum of Association ( MOA)
- Articles of Association ( AOA)
- Certified Copy of Partnership Deed
- List of Partners/ Directors
- Valid Address Proof of Business
- Utility Bill – Telephone or Electricity bill not more than 3 months old
- Ration Card
- Trade License
- Lease Agreement
- Sales Tax Certificate
- Valid Proof of Residence of borrowers: Utility bill could be electricity or telephone bill, passport copy, Aadhar card, bank statement.
Income Proof: Bank statement or passbook of the last 2 years.
Financial Proof: Income Tax Return of the last 2 years and the computation of Balance Sheet, Income and Profit & Loss A/c. Together with the previous 3 years audited financials—previous 6 months bank statement. Last 2 years audited Balance Sheet by the CA, GST Challans, and Tax Audit reports.
- Proof of continuation of business
Business Ownership Proof: depending on the type of business you own that is a sole proprietorship, partnership, registered company etc. you will require to submit the requisite documents.
- Proof of Age of Borrowers: Pan Card, Passport Copy or Voters Identity Card.
Documentation of Collateral: This documentation is the entire set of documents per the collateral pledged against the loan. It could vary from securities to assets to the business itself. The type of collateral chosen is ascertained by the borrower and the Bank in tandem.
Term Loan re-payment track record of any previous loan. This is eligible on a case to case basis if the borrower has procured a loan in the past.
Any additional documentation as per the Bank’s statutory stipulation.
Before you commence to apply for Working Capital Loan, do make sure to read our guide for the documents required for Working Capital Loan thoroughly. With an easy to read list of documents required for Working Capital Finance, what are you waiting for? Apply for a Working Capital Loan with HDFC Bank today.
Know more about the Working Capital Loan here.
*Terms and conditions apply. Business Loan at the sole discretion of HDFC Bank limited. Loan disbursal is subject to documentation and verification as per Banks requirement.