Regarding business loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 May 2016
Dear Sir,
This is kranthi . Am going to apply for a Business loan of Rs 15,00,000/- but the banker is asking income tax returns and balance sheet and profit and loss account , If i want Business loan Rs 15,00,000/- how much turnover i want to show in my profit and loss account and how they will calculate the loan amount based on the turnover and please provide the calculation procedure and my business is small business. thank you
Read more at: https://www.caclubindia.com/experts/ask_query.asp
This is kranthi . Am going to apply for a Business loan of Rs 15,00,000/- but the banker is asking income tax returns and balance sheet and profit and loss account , If i want Business loan Rs 15,00,000/- how much turnover i want to show in my profit and loss account and how they will calculate the loan amount based on the turnover and please provide the calculation procedure and my business is small business. thank you
Read more at: https://www.caclubindia.com/experts/ask_query.asp
31 May 2016
you are taking cash credit limit then banks normally give loan on sale 10% to 15% of the sales and also take the stock value of 50% to 70% for c/c limit. and form term loan depend on the machinery you are buying .
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