Calculate business loan EMI and repayment
Options include term loans (lump sum with fixed repayment), working capital loans, equipment financing, invoice financing, overdraft facilities, and government-backed MSME loans like MUDRA. Each suits different business needs.
Typically required: business registration documents, 2-3 years of financial statements, ITR, bank statements (6-12 months), GST returns, business plan (for new ventures), and identity/address proof of promoters.
Most lenders require 1-3 years of business operation. Startups can access government schemes like MUDRA (up to ₹10 lakh) or Startup India loans. Some NBFCs lend to 6-month-old businesses with higher interest rates.
Lenders assess: annual turnover, profitability, cash flow, existing debt, credit score, business vintage, and industry risk. Debt-Service Coverage Ratio (DSCR) should be above 1.5x for healthy approval chances.
It's challenging but possible through NBFCs, microfinance institutions, or government schemes. Expect higher interest rates (18-30%). Offering collateral or showing strong cash flow helps improve approval chances.
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