Loan eligibility is dependent on primarily the following factors.

• The credit score of the entity and/or the partner/director/proprietor of the borrowing entity as reflected in your CIBIL or Equifax report or any other credit bureau. Having a good credit score is a necessary but not a sufficient criteria. If the credit score is a border line case then the bank may take a subjective call to limit the loan amount.
• The last 1 year financials of the borrowing entity. Factors like turnover, partner/director salary, depreciation, interest cost, net profit after tax are some of the key parameters that goes into deciding the loan amount.
• Ability to service the EMI for the current loan be requested as depicted by the Debt service coverage ratio (DSCR). Banks generally ask for a DSCR of 1.0 to 1.5 depending on case to case basis.

Generally, the minimum amount loan amount is Rs 10,00000 and maximum amount is Rs 2,00,00,000. Higher loan amounts are dependent on a personal discussion that a bank may want to have with the borrower and then take a call on the loan amount.

Connections will liaise with banks to strive for the approval of your loan within 5-7 working days upon the submission of all necessary documents.

Borrowing entity's PAN card, address proof, last 2 years financials (balance sheet, profit & loss, audit report), last 6 months bank statement, VAT/service tax returns, partnership deed/MOA, existing loans repayment track record. Additionally, the partner/director's PAN Card, KYC, own house proof, ITRs etc. On case to case basis additional documents may be required.