Term Loan Service

Elegiblity Crieteria
To apply for a term loan, you will need to submit the following financial documents:

  1. Last 2-3 years of Income Tax Returns (ITR) with computation of income
    Audited Financial Statements (Balance Sheet, Profit & Loss Account) for the past 2-3 years
  2. Bank Statements for the last 6 to 12 months
  3. GST Returns (if applicable) for the last 1 year
  4. Business Proof – such as registration certificate, trade license, or GST certificate
  5. Current Loan Repayment Track Record (if any existing loans are running)
  6. Projected Financial Statements – in case of loan amounts above a certain threshold
  7. KYC Documents – PAN Card, Aadhaar Card, Address Proof of applicant and business entity
Loan Tenure
Interest Rates (Range) %
1-3 Years
10.5-15.5
3-5 Years
10-14.5
5-7 Years
9.5-13.5
7-10 Years
9-13

How is the repayment of a term loan structured?

The repayment of a term loan is usually done through monthly installments over a fixed period. The installments consist of both principal and interest, with the amount fixed throughout the tenure, making it easier to budget.

Can a term loan be used for business expansion?

Yes, a term loan is commonly used for business expansion, including purchasing new equipment, upgrading infrastructure, or increasing working capital. It provides the necessary funds for growth without diluting ownership or equity.

How long does it take for a term loan to be approved?

The approval time for a term loan typically ranges from a few days to a couple of weeks, depending on the lender’s processing time and the completeness of the applicant's documentation.

Can I apply for a term loan if I have an existing loan?

Yes, you can apply for a term loan even if you have an existing loan. However, the approval will depend on your current financial situation, repayment history, and credit score. Lenders typically assess your debt-to-income ratio before approving additional loans.

Can a startup qualify for a term loan?

Yes, startups can qualify for term loans, but eligibility depends on the business’s financial stability, creditworthiness, and sometimes the personal credit history of the founders. Lenders may require a business plan, financial projections, and a track record of at least 1-2 years for a better chance of approval.

Term Loan

What is a Term Loan

A term loan is a lump sum of money borrowed from a bank or lender, repaid over a fixed period with regular installments. It is commonly used by businesses and individuals to finance large purchases, expansion projects, or operational needs. Term loans can have either fixed or variable interest rates, depending on the agreement. The repayment schedule and loan tenure are clearly defined at the time of borrowing. Available in short-term, medium-term, and long-term options, a term loan offers financial flexibility. Whether for business growth or personal investment, a term loan provides structured and reliable financing.

Why Term Loan

Choosing a term loan gives you access to immediate funds while offering the advantage of predictable repayments. With competitive interest rates and flexible repayment periods, term loans are a cost-effective way to meet business or personal financial needs. They help preserve ownership, meaning you don’t have to dilute equity to access capital. Term loans are ideal for managing cash flow, expanding operations, purchasing equipment, or funding long-term projects. If you need a reliable and structured financing option, a term loan is a smart choice to fuel your growth and secure your financial future.

What We Offer For Project Finance

At Bizfin Service, we offer flexible term loan solutions designed to support your business and financial growth. Our term loans come with competitive interest rates, clear repayment structures, and tailored tenures to suit your cash flow. We provide transparent terms, professional consultation, and fast processing to ensure a smooth borrowing experience. Whether you seek financing for expansion, asset acquisition, or working capital, our solutions are built to meet your needs. Trust us to deliver reliable funding with no hidden costs. Empower your ambitions with our trusted term loan offerings. Apply now for a seamless financial journey.

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The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.

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