How to get a business loan without ITR in 2021?


what is a Commercial loan?

A Commercial loan is a loan taken out to start a new business or develop a business.

An individual / company can take advantage of a secured loan which is obtained against a guarantee or unsecured business loan which is a unsecured loan.

Collateral is essentially an asset against which the loan is borrowed from the lender (the bank or the financial institution).

New commercial loans

Starting and running a business in this world of increasingly competitive prices has become very difficult and it is proving more difficult, especially for new start-ups or new businesses. Many start-ups have to close their businesses mid-term due to a lack of funds or a lack of steady flow of income.

Funds are essential for the emergence of a new business and also for the operation and expansion of already existing businesses, as funds are required to cover the initial capital investment, working capital and daily expenses of the company. the company.

Hence, there is a need for business loans / new business loans.

How to get a business loan:

Usually to request a Commercial loan a person / business must present an ITR or guarantee along with other documents required by the lender.

The ITR is proof of income that serves as a guarantee for the lender to get at least the interest.

How to get a business loan without ITR:

Individuals or start-ups face difficulty in applying for a business loan due to the unavailability of RTI. And for their rescue, currently there are various institutions present in the market offering business loans without RTI.

Business loan requirements to enjoy the commercial loan without ITR that an individual must provide may vary from institution to institution, but they are almost the same and are as follows:

  • A good credit rating – this is mandatory for all business loans (Acredit ratingis nothing but the credit history of the applicant as to the amount of credit taken by the applicant, repayment history, etc. It helps the lenders decide on the loan amount to be granted and also provides them with a clue on the loan repayment capacity of the applicant. Higher the credit score, the higher the loan amount granted.)
  • Proof of identity
  • Proof of address
  • A detailed, well-designed and well-documented business plan
  • Copy of business registration
  • A copy of the rental agreement
  • A copy of the bank statement
  • Passport-size photographs

Commercial loan without ITR becomes much easier if it can be applied against a warranty, but again, it is not necessary to have a warranty.


Individuals / companies when they decide to request a commercial loan without ITR should duly note the following:

  • The interest rate would be much higher than the regular rate Commercial loan.
  • The loan repayment period would be comparatively shorter.
  • The bank account should have an above average monthly balance showing adequate savings.
  • The general conditions, the interest rate and the repayment of the loan the period being offered by several lenders to compare before making a choice.

Commercial loan faqs:

Who can apply for a business loan without ITR?

Anyone can request a commercial loan without ITR of Ziploan, as an individual, a corporation (whether it is a limited liability company, a limited liability partnership, a partnership or a sole proprietorship), d ” a trust, a non-governmental organization, etc.

Is collateral required to get a business loan without ITR?

No. Collateral generally provides insurance to the financial lender if the borrower is unable to repay the loan.

Is a business plan necessary to obtain a business loan without ITR?

Yes, if a properly documented and presented business plan is provided to a lender, there is a good chance of getting the business loan.

What is the minimum and maximum age to apply for a business loan?

A person must be at least 18 years old and at most 65 years old (at loan maturity) to apply for the business loan.

What is an instant business loan?

Usually a Commercial loan is a tedious and time-consuming process while a Ziploan Instant Business Loan is a loan which is offered in the shortest possible time and the process is also very simple and quick.

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